Canadian immigration laws are complex, and choosing the right visa path is crucial for entrepreneurs planning to work and reside in Canada. Canada offers two main visa options for professionals: temporary visas and permanent residency. For applicants seeking quick entry into the Canadian market, applying for a temporary visa may be a preferable option. This article explores three key temporary business visas available to entrepreneurs: the Intra-Company Transfer (ICT), the Start-up Visa, and the Owner/Operator LMIA-based Business Visa. The relevant eligibility requirements, restrictions, and advantages are summarized below.
As the name suggests, a temporary visa/permit is valid for a certain period of time and must be renewed to continue living and working in Canada. Temporary visas are preferred by some professionals. They are generally easier to apply for and tend to be approved more quickly.
A permanent resident visa grants you permanent residency in Canada, allowing you to live and work in Canada long-term. This is a good option for entrepreneurs who plan to settle in Canada long-term and eventually obtain Canadian citizenship. While planning to immigrate to Canada, entrepreneurs can also consider other opportunities, such as purchasing a franchise of a related business in the country, applying for a start-up visa, or applying for a provincial nominee program.
There are several convenient ways for entrepreneurs and investors to operate a business in Canada and potentially settle permanently.
This visa is best suited for entrepreneurs who already have an existing business overseas and wish to establish a related new business in Canada. This visa allows entrepreneurs to immigrate to Canada and establish a new business in Canada. Entrepreneurs seeking an ICT work visa must register their company in Canada, provide proof of business address (this can be a law firm), and submit a detailed business plan including financial projections and personnel recommendations. The existing foreign business must also have been operating continuously in the country for at least 12 months. If these conditions are met, applicants may be granted a one-year work visa.
A key requirement for an ICT visa is that the business must be operating in Canada within one year. While the specific requirements vary by company, this generally means hiring at least one new employee and establishing an office in Canada. Business owners may also be required to demonstrate that the company is fulfilling contract orders, holding inventory, and generating revenue.
Initial investment amount:
This work visa is for business professionals who wish to purchase a business in Canada or establish a new business and assume a management position within it. These entrepreneurs typically aim to immigrate to Canada permanently. Applicants granted this visa will become employees of their Canadian company. This means the company must demonstrate that it can pay the applicant a salary that meets Canadian wage requirements.
The application process is typically a two-step process. First, entrepreneurs must apply to Employment and Skills Development Canada (ESDC) to obtain a positive Labour Market Impact Assessment (LMIA). Once they receive a positive LMIA, they can then apply for a work permit, which is valid for up to two years. Once a work permit is obtained, in most cases, applicants will be able to apply for permanent residence through the Express Entry program.
*This type of work visa increases the chances of business professionals applying for Express Entry permanent immigration to Canada.*
This visa (C-11 visa) is for entrepreneurs with a unique business or specialized business knowledge. Significant interest work visas are also available to artists, athletes, and investors. Applicants must demonstrate that their business or project will contribute to Canada’s social, cultural, or economic well-being.
A key consideration for this type of work visa is the uniqueness and viability of the Canadian business or project. The business or project must demonstrate that it provides a significant contribution to Canada that cannot be provided by existing residents and citizens.
Professionals must provide evidence of past personal business achievements, such as operating a unique business. They will also need to demonstrate public demand for their products/services, the number of offices operated, the number of employees employed, business profits, product sales, etc.
This type of work visa has been used for years by professional athletes, actors, dancers and scientists, but has more recently become a viable option for business people. Applicants should be able to provide evidence of public recognition, such as international interests, media coverage or important clients.
Other questions?
Sobirovs Law Firm specializes in assisting foreign businesses and brands enter Canada and provides comprehensive Canadian immigration services to high net worth individuals, entrepreneurs, and investors.
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