If you would like to earn permanent residence in Canada through an investor visa, you have come to the right page. Unfortunately, the federal Immigrant Investor Program is permanently closed so receiving permanent residence through sheer investment is not as easy as it used to be.
Thankfully, some of the Provincial Nominee Programs (PNPs) still have investor categories available to you. The following two provinces have investor visa programs:
• Ontario Immigrant Nominee Program (OINP) Business Category - Corporate Stream;
• Manitoba Business Investor Stream
Find out if you qualify for them below!
Ontario Corporate Stream:
If you have a business activity that will help grow Ontario’s economy, the Ontario Corporate stream could be perfect for you. The great thing about this stream is that your key staff will also be allowed to apply for a work permit if your proposal is approved by the OINP.
There is a long list of requirements you, your corporation and investment must meet to be considered for the program.
• Your corporation must have been established at least 36 months from the time you submitted your application
• The following corporate structures are eligible for the program:
• Public corporations
• Sole proprietorship
• A minimum of $5 million must be invested by your corporation to expand into Ontario or purchase an existing business in the province.
• The investment must be made up of legally obtained funds.
• The investment activity must be able to make a significant benefit to Ontario’s economy.
Job Creation Requirements:
• For every key staff applicant, the corporation must create five permanent, full-time jobs for Canadian citizens or permanent residents.
• They must be paid jobs with wage rates that are in line with industry standards for the particular jobs.
There are some general requirements your corporation must meet in addition to the criteria above.
Your corporation must meet the following criteria:
• There must be a clear link between the parent corporation and the new business you intend to start in Ontario.
• The new business must have the intention to make a profit through the sale of goods or rendering of services.
• The primary income of the business must come from earned (active) income.
• The new business must be in line with all the relevant Canadian legal practices and authorization and licensing. If you intend to buy an existing business, that business must be incorporated in Ontario.
• The new business must follow all the relevant Ontario labour laws.
• The new business must be considered as a permanent business.
• Any third party investors must be an institutional investor or a Schedule I or Schedule II bank.
• No immigration schemes or immigration-linked schemes will be accepted as a proposed business.
• You must submit a business plan.
Manitoba Business Investor Stream:
The Manitoba Business Investor Stream has two pathways to receiving an investor visa, the Entrepreneur Pathway and Farm Investor Pathway. As the name implies the second pathway relates to individuals who want to start and manage a farm in rural manitoba and the first pathway is for those of you who would like to start, purchase or co-own a business in the province.
The Business Investor Stream was designed with the intent that individuals will start businesses in Manitoba and create jobs for permanent residents and citizens to further the economy of the province.
The Entrepreneur pathway empowers the province to nominate and recruit business people who possess the skills and experience to start, manage or buy an existing business in the province. Individuals must have the intent and ability to settle themselves and their dependents in the province.
The minimum requirements of the Entrepreneur Pathway are as follows:
You must have at least three years of experience as a full-time business owner or senior manager of a successful business in the past five years. Business owners are favoured over managers and they must own at least a third of the business.
• You must score at least a CLB/NCLC 5.
• The only education you need is the equivalent of a Canadian high school certificate.
• There is no age limit; however, you will get ranking points if you are between the ages of 25 and 49.
• If the business is located in the Manitoba Capital region, your investment must be $250,000 otherwise you only need to invest $150,000.
• Your business investment must be made in an eligible business as defined by the Manitoba Provincial Nominee Program (MPNP).
• The new business must create or at least maintain a minimum of one job for a Canadian citizen or permanent resident of Manitoba.
• You must submit a business plan as part of your application. This is normally drawn up after conducting extensive research during a business research visit no more than a year before you submit your expression of interest to the MPNP.
• Extra points will be allocated to you if you are able to easily apart to the living in the province. Factors like moving with your family, your employment history in Manitoba and your ability to speak either French or English will be looked at.
• You must have a personal net worth of at least $500,000.
• Once your application has been approved, you must sign a Business Performance Agreement (BPA) before the MPNP issues you a letter of support for applying for a work permit.
Farm Investor Pathway:
The Farm Investor Pathway (FIP) is for those of you who have proven farm business experience, enough capital to invest and the intent to start and run a farm operation in rural Manitoba.
The MPNP expects that those who are successful with the FIP will produce primary products that are consistent with the current farm industry of the province. The type of operation and investment must be made in consideration of provincial statistics relating to the farm industry of Manitoba.
The minimum requirements of the Farm Investor Pathway are as follows:
• You must have at least three years of experience as a farm owner and operator.
• The FIP recognizes your language ability in either French or English.
• You must make a minimum investment of at least $300,000 and you are expected to start a farming business in rural Manitoba.
• The investment must be in qualifying tangible assets as defined by the MPNP.
• You must submit a farm business plan after conducting a Farm Business Research Visit to Canada.
• It is required of you to live on the farm and have active, hands-on participation in the management of the farm on an ongoing basis.
• The farm must be economically viable and in active primary agriculture production.
• The farm must have ongoing and recurring business activities in rural Manitoba.
• You must be able to demonstrate that your farming skills and experience can be adapted and transferred directly to Manitoba’s current primary farm production industry.
• You must have a personal net worth of at least $500,000.
Immigrant Investor Program (Permanently Closed):
The Federal Immigrant Investor Program is no longer in operation. On June 19, 2014, this immigration program has ended and all applications that were left in the backlog have also been terminated.
To Be Eligible and Considered for Qualification as an Investor, an Individual Must Have:
• A net worth of at least $1.6 million
• Managerial experience
• Must be willing to make a government-secured investment of $800,000
• Financing of this investment is available through Canadian financial institutions
As an immigrant investor, you and your immediate family can obtain Canadian Immigration (Permanent Resident) Visas by investing $800,000 for a minimum of five years under the Federal Program. This is for applicants intending to reside anywhere in Canada, except for Quebec. The program is government guaranteed, which means that your $800,000 will be reimbursed in full without interest at the end of the five years.
The applicant must have experience in management in an international agency, farming, commercial, industrial or professional business.
If you are interested in starting a business or buying an existing business in Canada, there are several immigration programs available to you, including the Federal Start-up Visa Program and some Provincial Nominee Programs.
If you are looking to invest and or move to Canada, our professional RCICs and immigration consultants will ensure that your visa documentation is submitted correctly and on time. Our consultants will also advise you on the visa options best suited to your individual profile. Contact us today to begin your application process.