The Provincial Nomination Program ( PNP) offers streams for those looking for investment settlement programs in Canada. While there is no federal programs for investment settlement in Canada, the different provincial nomination programs attract the attention of many Vietnamese investors and entrepreneurs because of their competitiveness and their reasonable investment requirements.
Author: An Le, Immigration Program Specialist, Phan Immigration Canada
As we mentioned, there are no investment settlement programs in Canada, but some provinces have attractive programs that allow you to use your assets or investment to start a business in Canada.
The requirements to apply to immigrate to Canada as a business with the PNP vary from one province to another. For example, the investment and assets requirement will vary on where in Canada you will decide to immigrate to Canada as a business.
Let’s take a closer at some of the ways you could immigrate to Canada as a business.
Ontario Entrepreneur stream (OINP)
Ontario is the province in Canada and is a economic and financial center of this country. Therefore, Ontario is suitable for investors to implement their business projects as its benefits from a strong economy and infrastructures.
To participate in the Ontario Entrepreneur Stream, investors must meet the following conditions:
- Have total assets of at least CAD 800,000 for a company operating in Greater Ontario or CAD 400,000 for a company outside of Greater Ontario.
- Investment is about a minimum of CAD 600,000 for a company operating in Greater Ontario or CAD 200,000 for a company outside the Greater Ontario area.
- Have at least 2 years of experience within the last 5 years.
- English: IELTS 4.0.
- Create at least 2 jobs for Canadians if the company operates in Greater Ontario or 1 job for Canadians if the company operates outside of Greater Ontario.
Entrepreneur stream in British Columbia province (BC PNP)
British Columbia (BC) is famous for its mild climate, with average temperatures much warmer than other provinces. Many Vietnamese people have chosen BC as a place to immigrate for the whole family when settling in Canada. The population growth rate in BC is mainly based on international immigration.
Investors must meet the following conditions to participate in the British Columbia Entrepreneur Stream.
- Have total assets of at least 600,000 CAD
- Invest at least 200,000 CAD in a Canadian business
- Have experience in managing or running a business
- English: IELTS 4.0
Entrepreneur stream in Saskatchewan province (SINP)
Saskatchewan is a western province of Canada, and this is the province with the lowest unemployment rate and cost of living in Canada.
Conditions of entrepreneur stream in Saskatchewan Program
- Have a net worth of at least 500,000 CAD
- Have experience as a manager or business owner, about 3 years within the last 10 years
- Education: graduated high school or above.
- Invest at least 200,000 – 300,000 CAD depending on the city in Saskatchewan
- Create at least 1-2 jobs for Canadians depending on the city in Saskatchewan
Work in Canada while you wait for your permanent residence
The Canadian Government supports entrepreneurs who come to contribute to the country’s economy.
Those who choose to immigrate to Canada as a business, under the PNP program, will be allowed to submit a work permit application to work in Canada while waiting for the PR results. Since the work permit is to support the implementation of your business, you won’t be required to include a Labour Market Impact Assessment as part of your application..
To qualify for the work permit to work in Canada through PNP entrepreneur stream, you must meet the following:
- Available passport or travel document.
- Education credential assessment report ( if applicable)
- Language test results ( if applicable)
- Police certificate.
- Medical exam.
- Proof of funds.
Bring your family with you while you work in Canada
Canada also understand the importance of keeping families together. When you qualify to work in Canada under the PNP program, your spouse can qualify for an open work permit for the same duration as your permit and visa. An open work permit will allow your spouse to work in Canada in any job with any employer.
The other important thing, your children also can move to Canada with you under Study Permit with the free tuition fee until the age of 18. You will be proud that your children are studying in one of the best education systems in the world.
Life in Canada
Coming to Canada, coming to a country of cultural diversity, you will never feel lost because the Vietnamese community here is very large and friendly. Canadian Citizen are also available if you need their assistance on your first arrival here.
Worried you will miss your home country when you immigrate to Canada? Don’t worry, there are vibrant Vietnamese communities across Canada where you can find restaurants, specialty stores to get those products or that food you miss and many organizations that can help you and family settle in Canada.
In most of the largest Canadian cities, you can even find Vietnamese traditional Tet festivals and markets that are sure to bring you a sense of home. Read more about Tet in Canada in our blog.
Why choose Phan Immigration Canada as your consultant
This is one of the important steps that greatly affects the outcome of your application. A Reputable Canadian immigration consulting company will assist you throughout the process of making your immigration application.
We help people ignite opportunities to elevate the lives of others. With more than 15 years of immigration experience, we provide transparents, personalized and accountable immigration service to connect our customers with the lives they imagine in Canada.
Phan Immigration, a Regulated Canadian Immigration Consultant specializes in immigration services in Canada. Not simply consulting, we will design an immigration route tailored to each client’s profile.
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