Which Canadian Business Immigration Program is Right for Me?

As the corona situation is prolonged, changes are appearing in many fields. Immigration to Canada is also expected to undergo major changes, and the first predictable part is the prospect that permanent residency programs that can be applied for based on job offers from small and medium-sized businesses may become difficult or reduced.

Under these circumstances, it is necessary to pay attention to Canadian business immigration, which is another major branch of permanent residency in Canada. Business immigration is literally the way to obtain permanent residency through business in Canada, and it is clear that it will be a more viable alternative in the future as it has been. There are more options for business immigration to Canada than most people think.

1. State Business Immigration (PNP-Business)

The method of receiving a nomination (immigration nomination letter) as a result of the state government's practical examination and receiving permanent residency based on this is the same as the state government employment immigration that many people are familiar with. However, the difference is only in the part of obtaining approval from the state based on “business” in the state instead of employment.

Almost all provinces in Canada operate business immigration programs within their respective provincial government programs. Qualifications usually include assets of a certain size, experience, and business investment in Canada, and the business plan plays an important role in the first qualification screening.

Unlike in the past, state business immigration these days is usually done by the state government confirming the applicant's actual business operation, issuing a nomination, and then receiving permanent residency.

2. Federal Self-employed

It is a program run directly by the federal government, and despite its long history, it feels like it is not well known to the general public.

Federal self-employed applicants are identified in two categories. The first is a person with world-class experience in arts and sports and culture and arts activities (athlete), and the second is a person with experience in running a self-employed business (academy, private studio, etc.) in each field.

The fields in which federal self-employment applications can be applied are diverse and widely recognized, including:

Librarian, curator, writer, journalist, broadcaster, translator, composer, singer, dancer, actor, painter, sculptor, crafts expert, photographer, film director, athlete, coach, referee, graphic designer, interior designer, recreation instructor

At least 2 years of active experience within the last 5 years is required, and assets above a certain size and investment in Canadian business are not required. However, the applicant's English proficiency and a convincing business plan that matches his career are important criteria for selection.

3. Intra-Company Transfers

If you establish a branch in Canada and dispatch executives and employees working at the head office, you can receive a work visa that is exempt from LMIA. Incorporation in Canada has relatively simple procedures and requirements. There are no restrictions on the types of businesses to be established, and startup-type establishments will be possible.

The in-house dispatch visa was originally recognized based on the North American Freedom Agreement (NAFTA), but the basis became clearer with the signing of the Korea-Canada Free Trade Agreement (C-K FTA) a few years ago.

Since the employee visa is also a type of work visa, it cannot be a permanent residency program by itself. However, there is a way to smoothly move to the next stage by selecting various permanent residency programs after dispatching (employment) to Canada.

4. Owner/Operator Work Visa

It is a plan to issue an LMIA and a work visa to yourself while becoming an owner through a start-up or business acquisition in Canada. There are no restrictions on industry or size, so a variety of small-scale self-employment is possible.

It is also not a permanent residency program per se, but it can be considered as one of the business immigration programs as you can choose the permanent residency process as the next step after receiving a work visa and starting work. Currently, the most powerful permanent residency connection is through Express Entry.

5. Startup Visa

It is mainly aimed at applicants with business ideas in the IT field. If your idea is evaluated by a startup investment company designated by the Canadian federal government (venture capital, angel investment company, etc.) and you receive a start-up investment application and funding as a result, you can apply for permanent residency.

A special advantage of this program is that the applicant can nominate up to 5 people needed in the process of commercializing a startup idea, and they can also apply for permanent residency.

6. Provincial Government International Student Business Immigration

It is currently being implemented in Nova Scotia and Manitoba, and is expected to be introduced in Alberta soon. It is a system in which the state government issues nominations and supports permanent residency for international students who are graduates of universities in the state and are running a business for a certain period of time.

Rather than getting a job after graduating from a Canadian university, you may prefer to run your own business, even if it is small, or you may want to participate in the business through equity acquisition. In particular, given the current situation in which the number of adult students studying at Canadian universities is increasing, it will be a better choice for them.

For international students graduating from Canadian universities, it is natural that employment is not the only way to secure a future in Canada, including permanent residency, and business immigration can be a better alternative depending on how you use it. So far, not many states are running this program, but we hope to expand it to all of Canada in the future.

Due to the corona crisis, it is possible that permanent residency through employment in Canada will be difficult for a while. If the road through employment is difficult, you can create various business opportunities through small capital start-ups, acquisition of existing businesses, or equity participation. Through this, I think we will be able to prepare an opportunity to turn a crisis into an opportunity. (2020.8.18)