Altec’s Insight | Canada Business Immigration: Alternatives to the Startup Visa

Canada has long been a popular destination for entrepreneurs and business owners looking to expand their ventures into North America. While the Startup Visa program has garnered significant attention over the past few years, there are several other business immigration pathways available.

As the Canadian government now limits the number of Startup Visa applicants per designated entity to 10 per year, competition for this program has intensified (along with the costs), prompting investors to seek alternative options.

Fortunately, Canada’s comprehensive immigration framework offers several viable alternatives that can effectively help foreign nationals establish or expand their businesses in this northern nation.

Intra-Company Transfer Work Permit

The Intra-Company Transfer (ICT) program allows foreign companies to transfer key employees or executives to their branches, subsidiaries, or affiliates in Canada. This is an ideal option for expanding Canadian operations by leveraging existing global talent.

Who Can Apply for the Intra-Company Transfer Work Permit?

• Business owners, entrepreneurs, and shareholders of successful companies who currently hold executive positions and intend to work in a similar role in Canada.

• Senior managers and departmental managers currently working for a foreign company and intend to occupy a similar position in Canada.

• Key employees with unique or rare advanced expertise.

Application Requirements:

• The employee must have worked for the foreign company for at least one year in the past three years before applying.

• The employee must be transferred to a similar position in Canada, usually as an executive, senior manager, or specialized knowledge worker.

• The Canadian company must be the parent, subsidiary, or affiliate of the foreign company.

• The parent company must be financially stable to support its operations in Canada.

Benefits:

• No investment threshold.

• No requirement for a Labour Market Impact Assessment (LMIA).

• Processing time is approximately 3 to 6 months (depending on your country’s visa office).

• Possibility of applying for permanent residency.

If you work as a business owner in Canada for at least 12 months and actively engage in your business, you may qualify for permanent residency under the Federal Skilled Worker category through the Express Entry program.

Owning an active company in Canada can also earn you an additional 200 points in the Express Entry system, provided your company meets certain criteria.

C-11 Entrepreneur Work Permit

The Entrepreneur Work Permit designed by Canada is tailored for individuals looking to establish or purchase a business in the country. The main criterion for this program is to present a viable business idea that can significantly benefit the Canadian economy.

Application Requirements:

• Present a viable business plan that offers significant benefits to Canada.

• Own at least 50% of the company in Canada.

• Have sufficient financial resources to establish or purchase the company in Canada.

• Demonstrate relevant business experience and the ability to successfully operate the business.

Benefits:

• No need for a letter of support from a designated entity.

• No requirement for a Labour Market Impact Assessment (LMIA).

• Flexibility in the types of businesses that can be established.

• Processing time is approximately 3 to 6 months (depending on your country’s visa office).

Provincial Nominee Programs

Canada also offers custom pathways for entrepreneurs and business owners to immigrate to specific provinces. Each province and territory operates its own Provincial Nominee Program (PNP), with unique criteria and processes designed to attract business talent that meets local economic needs and priorities.

The diversity of PNPs makes them more complex than standard federal programs. Each province focuses on business sectors, human capital needs, and capital requirements that align with its overall economic plan.

Each province has its own minimum investment amount, minimum net worth threshold, professional and educational standards, and language proficiency requirements.

While PNPs can be challenging to navigate uniformly, breaking down each province’s program can highlight the true flexibility of Canada’s business immigration system. Investors can identify which PNP best suits them and may even submit Expressions of Interest to multiple PNPs but can only apply to one.

PNPs indeed provide a pathway to permanent residency. Once an investor completes a set of agreed-upon processes, each province will “nominate” successful applicants to the federal government for permanent residency. These provincial programs enrich Canada’s business immigration landscape, offering alternatives beyond the Startup Visa.

Active Investment Opportunities Abound

While the Startup Visa program remains a valuable option, its recent restrictions on letters of support have made the competition fiercer and more expensive, creating a niche market for entrepreneurs.

Therefore, exploring alternatives like the Entrepreneur Work Permit, Intra-Company Transfer Work Permit, and Provincial Nominee Programs can offer viable pathways to achieve your business goals in Canada.

These pathways can also provide opportunities for entrepreneurs and their immediate family members (spouses or common-law partners and children under 22) to obtain permanent residency.

It is important to note that Canada does not offer passive investor pathways; the government requires investors to be actively involved in their businesses. Potential applicants must ensure they have the financial capability and commitment to participate in the development of their businesses.

At Altec Global, we are dedicated to helping individuals achieve their Canadian immigration dreams, no matter how challenging the circumstances may seem. If you need immigration assistance, we encourage you to contact our team for a personalized assessment.