Pathways to Canadian Permanent Residency through Business Immigration: The Start-Up Visa and Express Entry Programs
Canada’s immigration system offers several pathways to Canadian permanent residency for talented entrepreneurs
who can boost the Canadian economy. Economic, or Business Immigration, really shines in this area.
What is Spousal Sponsorship?
Canada Spousal sponsorship is a vital pathway amongst Canadian immigration programs, allowing Canadian citizens and permanent residents to bring their spouse, common-law partner, or conjugal partner to Canada as a permanent resident. It’s all about keeping families together and giving loved ones the chance to build their lives in Canada.
Meet Your Canadian Business Immigration Specialists
At Tabula Rasa Immigration Services, we’re experts in the Start-Up Visa (SUV) Program and the Express Entry Program—two major pathways to Canadian permanent residency through business immigration. While these programs have different focuses and criteria, they offer practical ways for entrepreneurs and skilled business professionals to make Canada their new home.
Thinking About Canadian Permanent Residency Through Business Immigration?
If that’s you, then you’ve come to the right place.
We’re here to guide foreign nationals through the best business immigration programs. Moreover, we help them achieve permanent residency by either investing in or starting a business in Canada.
As a team of licensed Regulated Canadian Immigration Consultants (RCICs), we have vast experience and successful track record in helping people to navigate these programs with confidence. Moreover, we’ll take the time to understand your goals and walk you through every requirement and step necessary for a successful application.
Ready to Move Forward?
Speed up your Start-Up Visa or Express Entry application by contacting the professionals at Tabula Rasa Immigration Services. Book a consultation and learn how to apply for Canadian permanent residency.
The Start-Up Visa (SUV) Program
The Start-Up Visa (SUV) Program is a path for innovators and entrepreneurs who have the potential to build businesses in Canada that can compete globally. The program aims to attract entrepreneurs with the skills and drive to launch high-growth businesses that create jobs for Canadians and thrive internationally.
Do You Qualify for The Start-Up Visa Program?
To qualify for the SUV Program, you need to meet a few key requirements:
Qualifying Business: Each applicant must hold 10% or more of the total voting rights,
and applicants and the designated organization together must own more than 50% of the total voting rights.
Letter of Support (LOS) from a Designated Organization: You’ll need a commitment from a designated organization—like a venture capital fund, angel investor, or business incubator—approved by the Canadian government. This Letter of Support (LOS) is crucial for your application.
Language Proficiency: You must prove proficient in English or French at the Canadian Language Benchmark level 5 in speaking, reading, listening, and writing.
Settlement Funds: After arriving in Canada, you’ll need to show you have enough money to support yourself and any dependents. The amount depends on how many family members are coming with you.
Admissibility: Like all Canadian immigration programs, you must pass security and medical exams to ensure you pose no risk to Canadian society.
The Start-Up Visa Application Process
Applying for the Start-Up Visa Program involves a few steps:
Secure a Commitment: Pitch your business idea to a designated organization and get their support. This step is critical, as the success of your application depends on this endorsement.
Prepare and Submit Your Application: Once you have your Letter of Support, you can send your permanent residency application to Immigration, Refugees, and Citizenship Canada (IRCC). Be sure to include all required documents, such as proof of language ability, settlement funds, and your Letter of Support.
Processing and Approval: After you send your application, the IRCC will review it. If everything checks out, you and your family will be granted permanent residency.
What Are the Benefits of Canadian Permanent Residency?
The Start-Up Visa Program offers several advantages:
Permanent Residency: You and your family will receive PR status, allowing you to live, work, and study in Canada.
Pathway to Citizenship: Permanent residency can lead to Canadian citizenship once you meet the residency requirements.
Support for Business Growth: You’ll gain access to Canadian markets and support from experienced business organizations, boosting your chances of success.
FAQs About the Start-Up Visa Program:
- What types of businesses qualify?
The SUV Program suits innovative, scalable businesses with high growth potential that can create jobs for Canadians. Traditional retail stores or restaurants might only be eligible with a unique, scalable business model. - How long does the application process take?
The timeline averages about 18 to 36 months, depending on the time it takes to secure your Letter of Support from a designated business organization. Preparing and submitting a complete application, including all documentation, will expedite the process. - Can more than one person apply as a founder?
Yes, up to five people can apply as owners of a single business. However, each must meet the ownership requirements and play a significant role in the business operations. - What if my business fails after I get permanent residency?
The good news is that your permanent residency isn’t tied to your business’s success. Once you have PR status, it’s yours to keep. - Do I need to live in the same province as my designated organization?
No, you can live and work anywhere in Canada. However, settling in the province where you plan to start your business is often a good idea, as it can provide you with local support and resources. - Can I include family members in my application?
Yes, you can include family members, including dependent children. - Are there any industry restrictions?
While there are no specific restrictions, the program favours businesses in high-growth sectors like technology, biotechnology, and other innovative industries.
Express Entry Permanent Residency
As a points-based system, permanent residence through Express Entry is designed to process applications for permanent residency under three federal economic immigration categories:
1. The Federal Skilled Worker Program
2. The Federal Skilled Trades Program
3. The Canadian Experience Class
Although it’s not exclusively a business immigration program, skilled entrepreneurs and business professionals can still use it to gain permanent residency by meeting certain criteria.
Who's Eligible for Express Entry?
Eligibility depends on which category you’re applying under. The most relevant categories for
business professionals are the Federal Skilled Worker Program and the Canadian Experience
Class. Key criteria include:
- Work Experience: You’ll need relevant work experience. For the Federal Skilled Worker Program, that’s at least one year of ongoing or equivalent part-time paid work experience in a skilled occupation within the last ten years. For the Canadian Experience. Class, you need at least one year of Canadian work experience in a skilled occupation.
- Language Proficiency: You must prove your language ability in English or French through recognized tests like IELTS or TEF. The required CLB level depends on the specific category.
- Education: You need at least a secondary education. Additional points are gained for Canadian education credentials or recognized foreign credentials.
- Comprehensive Ranking System (CRS) Score: Applicants are ranked using the CRS, which awards points based on age, education, work experience, language ability, and adaptability. Applicants with the highest scores can apply for permanent residency through regular draws.
The Express Entry Process
The Express Entry process is streamlined and involves a few main steps:
- Create an Online Profile: Enter details related to your skills, work-based experience, language capability, education, and additional relevant factors. Your profile will then be entered into the Express Entry pool upon submission.
- Invitation to Apply (ITA): If you score high enough on the CRS, there’s a good chance that you’ll receive an ITA for permanent residency.
- Send a Complete Application: After receiving an ITA, you will have sixty days to submit a complete permanent residency application, including all necessary documents.
- Processing and Approval: The IRCC will process your application, and if approved, you’ll receive confirmation of your permanent residency.
Why Choose Express Entry?
Express Entry offers several benefits for business professionals:
- Speed: The Express Entry system is known for quick processing times, often taking less than six months from application to approval.
- Flexibility: The points-based system allows skilled professionals to qualify based on a combination of factors, ensuring that it is accessible to various applicants.
- Provincial Nomination: You can boost your CRS score by securing a provincial nomination, especially if you’re just below the cut-off score in federal draws.
FAQs About the Express Entry Program:
- Can I apply as an entrepreneur or self-employed person?
If you meet all the eligibility criteria, you are encouraged to apply either under the Federal Skilled Worker (FSW) Program or Canadian Experience Class (CEC) Program. - How often are Express Entry draws held?
Draws usually happen every two weeks, but the frequency and size can vary depending on Canada’s immigration goals. - What’s the minimum CRS score needed for an ITA?
The minimum score varies with each draw. Factors like the number of candidates in the pool and Canada’s immigration targets can influence it. You can increase your CRS score by improving your language test results, gaining more work experience or education, or securing a provincial nomination. - Can my spouse or partner be included in my application?
Absolutely. A spouse or common-law partner qualifies, and their skills, education, and work experience can contribute to your overall CRS score. - What if I don’t receive an ITA after entering the pool?
Your profile stays in the pool for up to twelve months, so you’ll still have a chance infuture draws.
In short, Canada’s business immigration pathways offer great opportunities for business professionals and entrepreneurs aiming for permanent residency. The Start-Up Visa Program is perfect for those with innovative business ideas backed by Canadian investors.
At the same time, the Express Entry Program is ideal for skilled business professionals with relevant experience and strong language skills.
Both programs play a vital role in Canada’s economic growth by attracting talented individuals who can create jobs, innovate, and strengthen Canada’s economy.
To fast-track your Start-Up Visa or Express Entry application, contact the experts at Tabula Rasa Immigration Services Inc. Book a Consultation and Learn How to Get Canadian Permanent Residency through Business Immigration. Take the First Step Towards Your Canadian Dream. You’ll be glad you did!
Visit the official IRCC website for additional details on attaining Permanent Residency by Business Immigration Programs and other immigration pathways.
