Can You Really Buy Canadian Citizenship in 2024?
If you are wondering if it’s possible to buy Canadian citizenship, then this page is for you. Here, we will discuss the appealing yet mistaken idea of purchasing citizenship in Canada and offer practical and genuine alternatives. We will also explain how you can obtain Canadian citizenship through business immigration and determine whether you are an ideal candidate for this path.
No, you cannot buy Canadian citizenship or a passport under current immigration programs. However, you may be eligible for Canadian permanent residency under specific business immigration programs, which can then lead to gaining citizenship. Essentially, under these investment immigration programs, you:
- Operate your business in Canada under a work permit.
- Gain permanent residency within 1 – 2 years of running your Canadian business.
- Become eligible for Canadian citizenship after being a permanent resident and residing in Canada for at least 3 years.
As you can see, Canada is unlike the other countries where foreign residents can purchase citizenship, as with Cyprus. The concept of buying citizenship, especially the Canadian one, is a common misconception. What many people are referring to when talking about buying Canadian citizenship is, in fact, business immigration.
You can always learn about your immigration options by using our free instant assessment form or booking a 1-hour consultation with our lawyers to find out exactly how you can obtain permanent residency and citizenship in Canada through business.
Alternatives to Buying Canadian Citizenship: Business Programs
As you now know, you cannot outright buy Canadian citizenship, so you must be interested in what alternatives are out there. The closest you will come to buying Canadian citizenship is if you immigrate through one of the investment immigration programs. These programs provide reliable pathways for foreign entrepreneurs and their families to gain permanent Canadian residence and, later, citizenship. The programs are:
- Intra-Company Transfer – this program requires you to expand your existing foreign business to Canada.
- C11 Entrepreneur Visa – this program requires you to invest in an existing Canadian business or start a new one.
- Startup Visa – under this program, you are required to have an innovative startup company that investors back up.
- Provincial Nominee Programs – this program requires you to commit to investing and operating a business in one of the Canadian provinces.
- Quebec Immigrant Investor Program – Foreign investors may be eligible to apply for Canadian permanent residence if they satisfy the program’s requirements.
Minimum Requirements for Buying Canadian Citizenship
The requirements will largely depend on which investment immigration program you are choosing because, as you remember, you cannot buy Canadian citizenship or a passport. In general, you should aim to satisfy the following:
- Invest in an existing business or start a new one in Canada;
- Satisfy work permit requirements for your immigration program;
- Operate your Canadian business;
- Apply for Canadian permanent residency when eligible; and
- Apply for Canadian citizenship when eligible.
It would be best if you remembered that each program is developed to stimulate the growth of the Canadian economy. For this reason, your immigration application will vary drastically depending on your chosen investment program. For example, some programs may require you to clearly and in-depth outline the significant benefit your business will bring, while others will focus on your existing foreign operations.
How Much Does It Cost to Buy Canadian Citizenship?
If you are wondering how much it costs to become a Canadian citizen, it will cost you between CAD $250,000 and $350,000. You must remember that you are not actually buying citizenship. Instead, you are investing in expanding your foreign business to Canada, purchasing a business in Canada or starting a new one. It is crucial to consider the potential additional expenses that may arise when running a business in Canada. Ultimately, the outcome of your business immigration hinges significantly on the prosperity of your business. While managing your business on a work permit for a year can open up the opportunity for permanent residency, the underperformance or failure of your business could pose a risk to your permanent residency status.
Is Immigrating to Canada through Business Ownership for You?
Business immigration is not for everyone, and contrary to popular belief, it is not only for people who are experienced in owning and running their own ventures. Whether you are an experienced business owner or a highly skilled individual who has never owned a business, you could be eligible for immigration to Canada and gain citizenship through investment. Here are some examples of individuals that could be successful in business immigration:
- Senior managers with proven business management and development skills who want to start a new business or a franchise in Canada;
- Experienced entrepreneurs with an established foreign company that want to open a subsidiary in Canada;
- High-net-worth individuals who want to invest in an existing Canadian business and immigrate to Canada;
- Startup founders with an established and innovative foreign company that want to continue scaling it up in Canada or
- A variety of other individuals – if you are unsure if you qualify, you can always use our instant assessment form or schedule a 1-hour meeting with our business immigration lawyers.
What is the Best Business Immigration Program?
The best way for you to gain citizenship through a business immigration program will depend on your situation and your business goals. There isn’t a one-fits-all program that is considered better than others. The best program will be the one that can be perfectly tailored toward your needs and the needs of your business.
Benefits of Canadian Citizenship
For some people, becoming a Canadian is one of the most sought-after goals in their lives! It is quite understandable as there are endless benefits to living in Canada, raising your children here, and running your business in this beautiful country. Let’s take a look at some of the reasons why you’d want to become Canadian:
Family Goals – You may want to immigrate to Canada because you want to build a better life for yourself and your family. Access to free healthcare is particularly important for many as it contributes to social security. Not many countries have a widespread state-supported healthcare network. Suppose you want to attend university or want your children to study at a higher education institution. You are lucky because Canada has one of the world’s best universities and colleges. Free healthcare and excellent education are only a few reasons that may be on your family goals list. Canada has a very high standard of living that attracts many immigrants worldwide.
Business Freedom – Foreign entrepreneurs will find themselves in the perfect business climate when running their ventures in Canada. You see, there is plenty of support and a few unnecessary roadblocks to your business. Grants and incentives given by the government and industry are out there to help your business prosper. Hiring the right employee or finding the right expert to help you grow your business is relatively easy due to a highly educated and experienced workforce. While you may already be setting your eyes on running a successful business in Canada, you must also remember there are a few obstacles to your doing so! Governments at all levels and the industry support new business owners and always attempt to reduce bureaucratic procedures.
Opportunities in New Markets – Growing your business has never been easier for Canadian business owners. When you immigrate to Canada as an entrepreneur, you and your company will benefit from numerous Free Trade Agreements to which Canada is a signatory. These FTAs allow you to conduct business with clients from other countries efficiently. Your company will not be subject to import or export tariffs, benefit from simplified international investment and tax regulations, and have other significant advantages depending on the FTA. As a Canadian business owner, the proximity to the U.S. and CUSMA FTA, in particular, will allow you to gain access to the U.S. market, potential clients, technology, and funding and investment opportunities.
We invite you to book a 1-hour consultation with our lawyers to find out how you can obtain permanent residency and citizenship in Canada through business.
Frequently Asked Questions
Below, you will find answers to the most commonly asked questions:
Can I get PR if I buy property in Canada?
Owning property in Canada does not automatically lead to permanent residency. However, the Canadian government has introduced the Prohibition on the Purchase of Residential Property by Non-Canadians Act, which may impose restrictions on foreign nationals buying residential properties in certain situations. This act is part of broader measures to address housing affordability and availability issues in Canada. You should note that buying property in Canada could show a commitment to settling in the country and might marginally impact the adaptability section of some immigration applications. However, it does not provide any significant advantage in the immigration process. Canadian immigration policies prioritize factors like work experience, education, language skills, and family ties in Canada for permanent residency applications. Owning property in Canada does not change these fundamental requirements for achieving permanent residency.
What are the success rates for obtaining permanent residency through each business immigration program?
In 2023, our firm reported a high success rate in our business immigration services, achieving an overall approval rate of 83.2%. We submitted over 200 business immigration applications and served clients from over 10 countries. Our success varied by program, with specific rates for different streams like Intra-Company Transfers for new companies, Entrepreneur C11 Streams for starting or buying a business, the Startup Visa Class, and Permanent Residence Applications for Entrepreneurs & Business Owners. It’s important to note that past results may not necessarily indicate future outcomes, as each case is unique.
Are there any specific industries in Canada that are favourable for business immigration?
Yes, some of the most profitable businesses in Canada are particularly favourable for business immigration due to their profitability and growth potential. These industries include technology, especially IT and digital media which are thriving sectors with a high demand for innovation and skilled professionals. The real estate market is also prominent, with significant opportunities in both residential and commercial properties. Other key industries are agribusiness, particularly in regions known for agriculture, and the energy sector, which includes renewable energy sources and traditional resources. Additionally, the mining industry remains a cornerstone of Canada’s economy, offering potential for investment and development.
What safeguards are in place to prevent misuse of the business immigration programs intended for gaining permanent residency or citizenship?
Canada’s business immigration programs have specific eligibility criteria to ensure applicants genuinely contribute to the economy and society. These criteria include relevant experience, a viable business plan, language proficiency, and sufficient settlement funds. The programs target different categories of business immigrants, such as self-employed individuals, startup entrepreneurs, and provincial nominee entrepreneurs, each with tailored requirements. The focus on these factors helps to prevent misuse of the programs.
