Canada's Start-up Visa
Canada is one of the few nations offering a Start-up Visa as a direct path to Permanent Resident status. This class of immigration is best suited for business persons who operate enterprises that are verifiably:
- Innovative
- Amenable to scaling
- Likely to create jobs for Canadians
Up to five (5) Owners can apply under one SUV Application as long as each of them owns 10% or more equity.
Initiatives that have an Intellectual Property component seem to have the highest rates of acceptance. Some examples of industries that have had success with the SUV program include:
- Information Technology
- Finance
- SAAS
- Internet of Things
- Bio-technology
- Social Enterprises
One great thing about the SUV program is that participating entrepreneurs enjoy access to many supports. For example, the first step of the process is to apply to a Designated Organization (DO) for a Letter of Support (LOS). DO's are Angel Investor Groups, Venture Capital Funds and/or Business Incubators. No matter the type of DO, they provide a benefit to the applicant upon acceptance:
- Angel Investor Groups - $75,000 CAD
- VC Funds - $200,000 CAD
- Business Incubators - Business Advisory, Connections, Entrepreneurial Training, Access to Funding Sources
In exchange, the companies must meet agreed upon milestones and may be required to pay fees and/or offer equity shares.
The objective is to build companies that make significant contributions to the economy of Canada.
Self-Employed Visa
The Self-Employed category pertains to three types of professionals; namely, those who are engaged in:
- Cultural Activities
- Artistic Endeavors
- Athletics
For each, the level of skill required to qualify is:
- at a world-class level; or,
- at a level of proficiency that has enabled the applicant to be gainfully self-employed.
Duration of employment must meet or exceed two years within the previous five. More points are earned for each year of experience over two.
CUSMA Mobility
The Canada-US-Mexico Agreement has replaced NAFTA. CUSMA allows Visitors and Business Persons visa-free entry. Additionally specific professionals may work without requiring LMIAs.
If the founders of your enterprise are nationals of the United States or Mexico there are serveral immigration classes open to you, such as:
- Traders and Investors
- Intra-Company Transferee Work Permits
- Start-up Intra-Company Transferee Work Permits
- Business Visitors
- Professionals
Free Trade Agreement Mobility
Canada has signed many International Free Trade Agreements (FTA). FTAs allow visa-free travel and LMIA-free work permits for Business Persons and specific Professionals. Some of the most prominent include the CPTPP, Canada-Korea Free Trade Agreement, CETA, Canada-Chile FTA, Canada-Peru FTA, Canada-Colombia FTA, etc.
The first step we take when any professional reaches out to our office is to consult the many favourable trade agreements to which Canada is a party.
Owner-Operator Work Permit
Before April 2021, the Owner-Operator Work permit was the most popular one for Entrepreneurs. It catered to those purchasing a business in Canada and then managing it themselves. There was no Labour Market Impact Assessment required.
Now, foreign owners must search for a Canadian person to fill their position. In essence, owners must prove that they are the best person for the job of running their venture.
Significant Benefit Work Permit
The following professionals may be eligible for a Significant Benefit work permit, provided they can prove that they have the necessary education, expertise, accolades and credentials:
- Entrepreneurs and Self-Employed Workers
- Intra-Company Transferees
- Television and Film Production Workers
- Emergency Repair Personnel
Intra-Company Transferee Work Permit
Are you looking to parachute yourself and/or a few of your key executives into Canada to start a branch company? Well then, the Intra-Company Transferee might be the Work Permit for you ...
