Immigrating to Canada from Singapore: Business Immigration.

Entrepreneurs, business owners, and self-employed individuals have many options when it comes to immigrating to Canada from Singapore. In this article, you will learn about the most effective business immigration options for Singaporeans to immigrate to Canada. We will also provide you with immigration tips on how to improve your application based on our experience in helping Singaporean clients.

The application process for Canada PR involves meeting specific eligibility requirements, such as having a valid job offer or sufficient work experience, and offers numerous benefits including access to healthcare and education. Understanding the different routes to achieve Canada PR, the costs involved, and the need for proper documentation and legal guidance is crucial for Singaporean entrepreneurs.

Overview of Canadian Immigration

Navigating the Canadian immigration process can be complex, but it offers numerous pathways for skilled workers, entrepreneurs, and family members to make Canada their new home. The Canadian government has implemented a points-based system to evaluate applicants’ eligibility for permanent residency. This system assesses various factors, including language proficiency, education, work experience, age, and adaptability. Among the most popular immigration pathways are Express Entry, Provincial Nominee Program, and Family Sponsorship, each designed to attract individuals who can contribute to Canada’s economy and society.

Business Immigration Options to Move to Canada from Singapore for Canadian Permanent Residency

When considering Canada, business owners and entrepreneurs from Singapore can explore several business immigration options. Through each Canadian immigration program, applicants can bring their family members and become eligible for permanent residency. Achieving Canadian permanent residency is a key goal for entrepreneurs using these business immigration options.

• Intra-Company Transfer (ICT) – This program is best suited for Singaporean entrepreneurs who already have a business and want to establish a related business in Canada. Using this program, you can also move key members of your company to Canada.

• Entrepreneur Work Permits – This pathway is ideal for high-net-worth individuals, experienced entrepreneurs, and investors from Singapore. Eligible individuals can start their own business in Canada or invest in an existing one. Singaporean entrepreneurs could become eligible for permanent residency after one year of operating their business in Canada.

• Provincial Nominee Programs (PNP) – many Canadian provinces offer programs for entrepreneurs to invest, establish, and work in a specific region of Canada. The most popular provincial programs for Singaporeans to settle in Canada are Ontario PNP (currently paused) and British Columbia PNP. Alberta PNP and Nova Scotia PNP programs for such entrepreneurs also present great opportunities.

• Owner-Operator LMIA Program – Singaporeans used this program for many years until it was substantially changed in April 2021. Now, Singaporean entrepreneurs can apply via the standard LMIA program. However, for many, the Entrepreneur Work Permit offers a more suitable business immigration solution.

Eligibility Criteria for Business Immigration

For those considering business immigration, meeting specific eligibility criteria is crucial. Applicants must demonstrate a minimum net worth, relevant business experience, and a viable business plan. The Canadian government offers two primary business immigration programs: the Start-up Visa Program and the Self-Employed Persons Program. The Start-up Visa Program targets entrepreneurs with innovative and viable business plans, while the Self-Employed Persons Program is tailored for individuals with relevant experience in their field and a solid business plan. Both programs aim to attract individuals who can contribute to Canada’s economic growth and innovation landscape.

Pro Tips for Application Preparation in Singapore

Here are some tips that we have for entrepreneurs from Singapore submitting business immigration applications to the Canadian Embassy in Singapore or within Canada: A thorough visa application process is crucial, and consulting immigration experts can help ensure a smooth and successful application experience.

Include Extensive Financial Documentation

Singapore Visa Office officers are particularly attentive when it comes to evaluating the financial capacity of entrepreneurs and business owners. Therefore, to increase the chances of success, you must include evidence of sufficient liquid funds available to you to finance your business enterprise in Canada. Financial capability can be demonstrated with personal and/or business bank statements, including investment statements that you hold or any evidence which shows available funds for investment in Canada. Efficiently managing finances and receiving payments from a Canadian employer is also crucial for individuals relocating to Canada.

In many cases, the Visa Officers often would also like to see that business owners have set aside some additional funds to cover operations costs or unexpected expenses, at least for the first year. For example, suppose you are buying a business for $150,000. In that case, it is recommended to show evidence of holding at least $250,000. It is highly recommended that you provide evidence of personal and non-liquid assets with your business immigration application.

Include Evidence About Relevant Experience

It is common practice for Visa Officers to assess whether Singapore entrepreneur has enough experience to succeed in their new Canadian business. Therefore, you must be prepared to provide concrete evidence of relevant work experience and education. By providing relevant evidence, you will demonstrate that your business has a higher chance of succeeding in Canada. We recommend that you include reference letters, certificates of training courses, and evidence of operating a business to strengthen your application. All of that will make it evident to Visa Officers that you possess enough transferable skills to operate your business in Canada successfully. Additionally, the Federal Skilled Trades Program serves as an alternative pathway for individuals with relevant trade skills and experience.

Include Evidence of Commitment

Foreign entrepreneurs and investors often do not want to put capital in a potential Canadian business without knowing whether they will be granted immigration approval. As business immigration lawyers, we entirely understand such thinking. To be successful in business immigration, you must demonstrate your dedication to your Canadian business plan. After all, you must convince the Visa Officers that you are not only planning on pursuing a business venture in Canada but that you are actually taking steps to accomplish your goals.

There must be evidence that you have placed your money at risk and are taking action to carry out your business plan. You can demonstrate your dedication by purchasing a business, signing a commercial lease arrangement, hiring staff, purchasing equipment, etc. This would demonstrate to the Visa Officer that you are committed to executing your business plan.

Top Sectors That Use Business Immigration Programs from Singapore to Canada

Numerous successful entrepreneurs from Singapore have established thriving businesses in Canada. Singapore’s well-developed IT, Trade, and Professional Services sectors make it ideal for expanding to Canada. Additionally, Canada’s world-class education system offers significant benefits for entrepreneurs and their families, providing enhanced educational opportunities and a better quality of life.

Informational Technology

Canada has a strong domestic IT sector, which has over 43,200 registered companies. The sector is ever-growing and has not shown any signs of slowing down. Many Singaporean companies see Canada’s IT sector as an ideal expansion destination and a perfect way into the North American market.

Professional Services

From accountancy to financial consulting, there are plenty of business opportunities in the Canadian professional sector. As the Canadian economy grows, so will the industries that support the overall business operations. Considering the recent start-up boom in Canada, we can say that there will be a high demand for professional services to support new Canadian businesses. Numerous Singapore professional companies have expanded to Canada to capitalize on the tech revolution.

Trade

Canada and Singapore have been collaborating well in business for so many years. This has led to a total of $3.07 billion in 2018. From 2015 to 2017, Canada’s main imports from Singapore were:

• Electronic machinery and equipment – $296 million

• Pharmaceuticals – $207 million

• Chemicals and plastics – $163 million.

Permanent residents play a significant role in facilitating trade between Canada and Singapore.

Express Entry Program

The Express Entry Program is a highly sought-after immigration pathway for skilled workers. This online system manages applications for permanent residence under three federal immigration programs: Federal Skilled Worker, Federal Skilled Trades, and Canadian Experience Class. To qualify for Express Entry, applicants must meet specific requirements, including language proficiency, education, and work experience. The program uses a points-based system to rank candidates, with the highest-ranking individuals receiving invitations to apply for permanent residency. This streamlined process ensures that Canada attracts top talent from around the world.

Cost of Living in Canada

The cost of living in Canada can vary significantly depending on the province and city you choose to settle in. Generally, Canada boasts a high standard of living, which comes with relatively high living expenses compared to other countries. Key expenses include housing, food, transportation, and healthcare. On average, you can expect to pay between $1,500 and $2,500 CAD per month for rent, $500 to $1,000 CAD per month for food, $100 to $300 CAD per month for transportation, and $100 to $300 CAD per month for healthcare. It’s essential to research the cost of living in your specific destination to plan your finances effectively and ensure a smooth transition to your new life in Canada.

Our Experience and Statistics for SMEs and Investors Entering Canada

Throughout our business immigration practice, we have helped many Singaporean business owners, companies, entrepreneurs, investors, and start-ups. Below is a quick summary of our experience in working with Singapore to Canada business immigration clients. Achieving Canadian permanent residency is crucial for business success as it provides stability and access to various economic opportunities.

• Average Investment Budget: Between $150K – $300K

• Average Approval Rate: 95%

• Most Common Destinations: British Columbia, Ontario, Alberta

• Average Processing Times: 2-3 months

Types of Business:

• Gaming and game development

• Blockchain and cryptocurrency

• Franchised businesses (retail, marketing, food industry and professional services)

• Trade (jewelry, textiles, medical supplies, ethnic food, etc.)

• Food & hospitality (restaurant business)

• Professional services (recruitment and HR consulting, financial services, etc.)

• IT services & consulting

Top reasons for rejection:

• Availability of funds (insufficiency of available funds)

• Viability of business

Facts About Singapore – Canada Relations: Trade and Immigration

Canada and Singapore have enjoyed smooth diplomatic relations since Singapore’s independence from the United Kingdom in 1965. Immediately after its independence, the establishment of the Canadian International School followed. Canadian Prime Minister Stephen Harper further strengthened the relationship when he travelled to Singapore to attend the 21st APEC summit. In 2015, the two countries celebrated 50 years of diplomatic relations. Justin Trudeau, a Canadian prime minister, travelled to Singapore in 2018 to attend the 23rd Association of Southeast Asian Nations summit.

The trade between the two nations has worked due to their good trade relationship, resulting in $2.53 billion in 2018. The leading Canadian exports to Singapore are mechanical, electrical, and equipment. In 2020, the exports of machines between the two countries amounted to $621 million. Precious metals totalled $94.9 million, and medical and pharmaceutical products amounted to $94.3 million.

The Canadian Government makes living in Canada welcoming and accommodating for Singapore immigrants. The Southeast Asian diaspora is well-established in many Canadian cities, such as Vancouver, Toronto, and Ottawa. Throughout the past several decades, many skilled workers and entrepreneurs on business visas have immigrated to Canada and have created vibrant communities of like-minded individuals. Immigration, Refugees and Citizenship Canada (IRCC) plays a crucial role in managing the immigration process and achieving citizenship Canada targets.

Aided by the growth of the economy and the rise in Canadian employment rates, Southeast Asian immigrants found many opportunities for businesses and investments. Ranging from real estate to high-tech to the gaming industry, Singaporean entrepreneurs became successful in many types of businesses in Canada.