In recent years, Canada has been experiencing an upswing in business immigration programs for entrepreneurs, business owners, and self-employed individuals. If you are considering immigrating to Canada from Nigeria, then this article is for you. You will learn about official immigration programs for entrepreneurs and companies, which can lead to becoming permanent residents. Nigerians are well positioned to qualify for Canada’s immigration programs due to high English proficiency, education level, and work experience. We rely on our industry experience to provide you with the most up-to-date and exclusive information about business immigration to Canada.
Business Immigration Programs and Options from Nigeria
Nigerian entrepreneurs excited to launch or expand their businesses in Canada have many possible streams they can follow to obtain permanent residence and achieve their immigration goals. Economic immigration accounted for 76% of all Nigerians who came to Canada in 2019.
There are four Canadian immigration programs for Nigerian business owners and entrepreneurs. Each program allows applicants and their family members to become eligible for permanent residency, including those with a job offer. The minimum investment amount needed in business immigration programs leading to permanent residency in Canada can start at $100,000.
Intra-Company Transfer (ICT) -This stream is the best fit for established Nigerian businesses that want to explore expanding to Canada with their teams and companies. Well-established domestic businesses can use this pathway to move key members of their company abroad. Nigerian nationals in Canada on ICT permits become eligible for numerous paths to apply for permanent residency after just one year of employment in Canada.
Entrepreneur Work Permits – This pathway is for relatively small businesses with big ideas! Entrepreneurs, experienced managers, and high-net-worth individuals can start their own business in Canada or invest in an existing one. Nigerian entrepreneurs holding this work permit have the option of transitioning to Canadian permanent residence after 1 year of running their Canadian business. The business must be a qualifying business to meet the program’s requirements.
Provincial Nominee Programs (PNP): Many Nigerian entrepreneurs find that provincial programs best serve their specific needs. Many Canadian provinces and territories offer pathways for entrepreneurs to invest, establish, and work in a specific region. For Nigerians settling in Canada, the most popular provincial pathways have remained the Ontario PNP and Alberta PNP.
Owner-Operator LMIA Program – for many years this pathway was a very popular option for Nigerian business owners, investors, and entrepreneurs hoping to expand to Canada. After the substantial changes to the program made in April of 2021, Nigerian entrepreneurs and skilled workers have been able to apply via the standard LMIA pathway. However, many have switched their sights to the more streamlined Entrepreneur Work Permit program.
Start-Up Visa Program – This program allows entrepreneurs with innovative business ideas to obtain permanent residency. To be eligible, candidates must present a viable business plan that meets the due diligence requirements of government-approved designated entities, such as angel investors, venture capital funds, and business incubators. Investments from these entities must significantly support the qualifying business to facilitate the applicant’s transition to permanent residence. Candidates often require settlement funds starting at around $13,000 CAD to qualify for Canadian immigration.
Pro Tips for Canada Visa Application in Nigeria
Even for the business-savvy, business immigration can be a complicated process. We’ve compiled some tips on how to apply for a Canadian visa in Nigeria and succeed in your business immigration application, starting with a comprehensive business plan :
Include Evidence of Commitment Enter the Express Entry Pool
Entering the express entry pool is a vital step in Canada’s immigration system. Candidates submit their profiles to be ranked based on their skills and qualifications. Meeting the Comprehensive Ranking System (CRS) score requirements is crucial, as it determines your chances of receiving an Invitation to Apply (ITA) for permanent residence. This is especially important for Nigerian professionals looking to compete effectively in the pool, often requiring a labour market impact assessment. IRCC sets a 6-month processing service standard under Express Entry.
Include Extensive Financial Documentation
One of the most important requirements in any business immigration application is to demonstrate your financial capacity. The Canadian embassy in Lagos will very carefully review your application to assess your financial capacity. You must make a considerable effort to showcase sufficient liquid funds and family members’ funds that you can use to support your business in Canada.
You can show that capacity by including the following in your application: personal and corporate bank statements, stock/shares that you hold, savings account statements, tax returns, and much more. Visa officers will look for whether you have set aside enough funds for your business immigration and for any extra funds to cover unexpected expenses or operational costs. You should aim to show an additional CAD $100,000 in addition to your initial business investment. It is also beneficial to show evidence of personal and non-liquid funds.
Include Evidence About Relevant Experience
For your business immigration to have a higher chance of approval, you need to show evidence of relevant experience. Your relevant experience should be able to provide you with transferable skills to make you successful in your Canadian business, addressing the economic and demographic needs. Canadian embassy in Nigeria will look for ample evidence of relevant education, managerial, and industry experience. The IELTS or CELPIP tests are typically required to demonstrate English language proficiency for Canadian immigration.
It is in your best interest to include reference letters, evidence of business ownership, diplomas of additional training or course completion certificates, and any other documentation that would show that you have acquired skills that would help you succeed in Canada.
Include Evidence of Commitment
Foreign entrepreneurs and investors often don’t want to invest funds in their potential Canadian business without knowing whether they will be granted immigration approval. As business immigration lawyers, we completely understand that kind of thinking. However, to succeed in business immigration, you must demonstrate your commitment to your Canadian business plan, especially to immigration authorities.
There must be concrete evidence that you have put your money at risk and have taken serious steps to the completion of your business plan. You can show that by investing in a Canadian business, completing a commercial lease agreement, buying equipment, hiring employees, etc. It would not be enough to only register your business in Canada and submit your business plan. You need to show real evidence that you have reasonably committed to the execution of your business plan.
Best Business in Canada for Immigrants from Nigeria: Start-Up Visa Program
Nigerian businesses have historically been a boon to the Canadian economy and industry sectors. Nigeria has built an international reputation for its work in the sectors of oil and gas, maritime management, automotive and automation work, tech, and healthcare.
As these businesses thrive and expand domestically, many professionals look to industry and manufacturing opportunities in Canada as their future business destination and a site for collaboration and innovation.
In the tech sector, venture capital funds play a crucial role in supporting innovative businesses. Securing investment from these funds can facilitate business growth and immigration, making it easier for entrepreneurs to establish and expand their ventures in Canada.
Petroleum Industry
Nigeria and Canada share high levels of investment in the oil and gas industry. Nigerian companies with expertise in the sector find their acumen and experience warmly welcomed in Canada’s industry-friendly environment. Canada’s Deputy High Commissioner in Nigeria, Ryan Ward, stated that:
“We’re doing a lot of work to promote innovation linkages between our countries and are seeing increasing interest from Nigerian startups looking to grow in Canada…There is significant interest in both Nigeria and Canada in growing our mutual trade and investment relationship. Some of the sectors of greatest potential in Nigeria – particularly around the extractive industries – are areas where Canada has strong experience and leading technology solutions.”
Maritime Management
Nigeria is known for its maritime management sector, and in fact, the Nigerian Maritime Administration and Safety Agency (NIMASA) has been recognized internationally as an industry leader. Maritime trade accounts for 95% of the vehicular means of Nigeria’s international trade. The sector holds a similar significance in Canada, where marine trade dominates as a means of domestic and international trade.
Maritime management and marine industries are experiencing high demand following the COVID-19 pandemic and continued supply chain shortages. This sector has increased financial opportunity and will continue to grow.
Trades
Nigerians and Canadians both benefit from the strong trade relationship shared by these nations. Nigeria is Canada’s second-largest bilateral merchandise trading partner in Sub-Saharan Africa. In 2014, this relationship was further cemented by the creation and signing of a Foreign Investment Protection Agreement (FIPA). It is yet to be ratified. In 2021, Nigerian imports reached CAD$2.1 billion, with primary imports being mineral fuels, oils, and cocoa.
Our Experience & Statistics for SMEs & Investors Entering Canada from Nigeria
Nigerian business owners, companies, entrepreneurs, investors, and startups have been a large part of our practice since the beginning. We have advised a number of Nigerian applicants on Canadian immigration options and the various business opportunities available. Below is a quick summary of facts that we have witnessed throughout the years:
Average Investment Budget: Between CAD $150,000 – CAD $300,000. Federal economic programs can provide additional opportunities for investors.
Average Approval Rate: 94%
Most Common Destinations: British Columbia, Ontario, Alberta. Other federal economic programs can help address labour and demographic needs in specific regions.
Average Processing Times: 2-3 months
Types of business:
Automotive (sales, repairs, import/export, etc.)
Franchised businesses (retail, marketing, food industry and professional services)
Trade (furniture, oil and gas, petroleum, textiles, cocoa, fake hair, medical supplies, ethnic food, etc.)
Tech services & consulting
Top reasons for rejection:
Insufficient funds
The potential success of the business in Canada
Success Stories from Nigeria to Canada
NIGERIAN ENTREPRENEUR BUYS AUTO-MAINTENANCE BUSINESS IN CANADA
John Doe, a Nigerian entrepreneur, recently purchased an auto-maintenance business in Canada. His journey to success is a testament to the opportunities available for immigrants in Canada. John initially moved to Canada through the Express Entry system, which allowed him to leverage his skills and experience in the automotive industry.
Another inspiring story is that of Jane Smith, who immigrated to Canada through the Self-Employed Persons Program. Jane had extensive self-employment experience in cultural activities, specifically as a professional dancer and choreographer. Recognizing the significant impact self-employed individuals can have in cultural sectors, the Self-Employed Persons Program provided her with a pathway to obtain permanent residency in Canada. Since moving, Jane has successfully established a dance academy, contributing to the local arts scene and mentoring young talent.
These success stories highlight the diverse pathways available for Nigerian immigrants to achieve their dreams in Canada. Whether through the Express Entry system or the Self-Employed Persons Program, Canada offers numerous opportunities for skilled and self-employed individuals to thrive.
