The attraction of business-related immigrants is a top priority for Canada. The goal of the categories of business immigration that are enacted by law is to draw skilled and experienced investors and entrepreneurs who can help boost Canada’s economy and expand job opportunities.
From the viewpoint of the prospective business immigrant, Canada offers an environment that encourages businesses, a strong legal system, a robust economy that has established trade connections across the world, and closeness to United States markets. United States market.
Business Immigration Categories
The immigration process to Canada is permissible in any one of three major categories of immigration for business:
the Immigrant Investor Immigration to this category is accessible to individuals with high net worth and verified business experience. The funds’ source must be proven to be a legal business activity. Prospective immigrants must pay authorities, and the funds are returned after a specified period, without interest. At the time of this writing ( October 2007), the sum worth $800,000.00 Canadian currency must be deposited (either at the Federal government or Canada’s Province of Quebec) to gain permanent residence. Canadian financial institutions provide funding available for both the Federal and Quebec programs. This option allows immigrants interested in holding the majority of their capital to use it at their discretion aftmovingove to Canada.
Wealthy investors from abroad can benefit from significant tax advantages by establishing the trust of an investment company for immigrant investors and then registering it in Canada upon their immigration. According to Canadian laws in force at the date of this article, registering the trust permits the investor to legally avoid the obligation to pay Canadian taxes on income from assets in the trust for five years following the time they become permanent residents of Canada.
Entrepreneurs intending immigrants to the entrepreneur category should have experience in business and, in contrast to applicants for the category of Immigrant, Investors are required to buy and operate the operation of a Canadian company. At first, entrepreneurs are accepted into Canada as employees of their business and receive permanent residence if their business can meet certain criteria. Typically, that is tied to the company’s expansion and opening up employment opportunities for outsiders. A range of provincial Nominee programs is open to entrepreneurs who want to live in a specific Province. These programs are attractive for entrepreneurs who do not meet the Federal selection system criteria. In certain situations, the Provincial program could allow entry into Canada much faster than the comparable Federal program.
Self-employed individuals Farmers who are self-employed or actors, artists, and sports celebrities may be eligible as part of the Federal system following their prior experiences in these fields and if they can demonstrate the desire and capability to contribute a “significant” contribution to the economy, as well as to the artistic or cultural culture or artistic life in Canada. For self-employed farmers, one must show the intent to purchase an agricultural property in Canada. The self-employed classification for immigration is extremely restricted within the Federal system. People who are self-employed but haven’t been in any of the above professions should therefore consider whether they are eligible to immigrate under the Investor program or else in or under the Quebec immigration system that permits other self-employed people to migrate.
In the end, Canada offers many opportunities for successful business individuals can relocate. Entrepreneurs have the opportunity to take note of the possibilities that are increased after a few months: Canadian businesses enjoy preferential access to the United States market and Mexico under the North American Free Trade Agreement (NAFTA). Permanent residents are often qualified to seek Canadian citizenship within three years. When Canadian citizens are granted citizenship, and a Canadian passport is issued, an entrepreneur will have more accessibility to the North American market.