Business Immigration – PNP Entrepreneur Visa

Business Immigration – PNP Entrepreneur Visa

The PNP Entrepreneur Visa is a Canadian immigration program aimed at entrepreneurs. The program aims to attract entrepreneurs interested in owning and managing a business in Canada. The program’s objective is to grow the economy of the country and create new job opportunities for Canadian citizens. Business immigrants are foreign entrepreneurs capable of making an investment in Canada. They must also commit to working towards developing the economy of the country.

Terms and Conditions

If you are interested in moving to Canada under the PNP Entrepreneur Visa program, you must fulfill specific terms and conditions.

To qualify for the PNP Entrepreneur Visa program, you must have a net worth of at least CAD 500,000. You must also demonstrate your willingness to establish, make an investment in, or purchase a business in Canada. The business must be able to create or maintain employment in Canada.

Requirements for this program vary depending on the province. Nearly every province in Canada has its own business immigration streams known as Canada PNP Entrepreneur Immigration Streams.

Once approved under the Federal Entrepreneur program, you can apply for a Canadian permanent visa for yourself and your immediate family. You must either establish a new business or acquire at least 33.3 percent equity in an existing and qualified Canadian business. Your business must also be capable of creating at least one new employment position for a Canadian citizen or Canadian permanent resident.

You must have at least three years of experience in running a business. This business must have been acquired during the five years before the date you made the application for the PNP Entrepreneur Visa program. You must play a full-time role in the management of the new business and be responsible for the planning, management, and control of all business areas, including financial and human resources or any specialization processes.

Eligibility Requirements

Your intended destination to start or acquire a business can be in any Canadian province except Quebec. (As mentioned, for starting a business in Quebec, you must refer to the Quebec Entrepreneur Program).

You must have a minimum net worth of CAD 500,000. The net worth must have been legally obtained.

You must have adequate business experience. You must show proof of having previously managed and owned a qualified business

You must have a business plan drafted and ready for presentation to the immigration authorities.

The plan must be comprehensive and cover all crucial areas of business management, including the core concept, marketing plan, staffing, finance management, and others. It must also provide adequate proof of how the business can create jobs for local citizens and help bolster the Canadian economy.

You must have minimum language proficiency of CLB 5.

You and your accompanying family members must not be inadmissible to Canada on any grounds, including ineligibility, medical, or security reasons.

Visa Processing – Time Required and Fees

The processing time for PNP Entrepreneur Visa can be between 12 to 15 months on the current processing time average. It depends on several factors and can vary from one province to another. The fees for each of the PNP immigration programs also vary in every province. For instance, the Manitoba PNP fee is CAD 2500. For Nova Scotia PNP, there is no fee applicable. For British Columbia PNP and Ontario PNP, the fee is CAD 3500. For Prince Edward Island PNP, the fee is CAD 10,000.

Looking for an immigration expert to guide you in your effort to qualify for a PNP Entrepreneur Visa Program? SunnySpire can help because we have the experience and the expertise to guide you in making the right moves at every stage of the long-drawn application process. Contact us to gain from our immense expertise in Canadian immigration processes.

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