Doing Business in Canada
If you are planning to do business in Canada, you have made a favorable life-changing decision.
Forbes rated Canada, the world’s second-largest country, as the G-20’s best country to do business. With its strong economic growth, low taxes and business costs, and lucrative government incentives, it hardly comes as a surprise that its major cities are home to the booming entrepreneurial ecosystem.
The country, often denominated as the formidable rival of Silicon Valley, has become a hub for budding global entrepreneurs for a host of reasons, including its ease of business registration, brimming tech pool of talent, and access to venture capital.
i-Can Advisory Group will help you leverage all the benefits, understand the economy and culture, and offer unparalleled insights, from financial to legal, crucial to your venture’s feasibility, success, and growth.
Canadian Business Immigration Programs: Get, Set-up, and Go!
There are numerous ways in which a budding immigrant entrepreneur or a seasoned business person can enter Canada. Some of the programs include:
● OINP Entrepreneur Stream (OES)
An immigration stream under the Ontario Immigrant Nominee Program (OINP), OES offers international entrepreneurs an opportunity to settle in Canada by establishing or acquiring an existing business in Ontario. This stream enables the applicant to obtain permanent residency of Canada once the business is established.
To be eligible under this program, you must;
- have a minimum 24-month full-time business experience in the last 60 months.
- have a networth of
○ CA$800,000 for a business within the Greater Toronto Area (GTA).
○ CA$400,000 for a business outside GTA.
- own at least 33 percent and invest at least CA$600,000 in business if it is in GTA (CA$200,000 if the business is outside GTA).
- create two full-time jobs for Canadian citizens or permanent residents if the business is in GTA (one full-time job for a business outside GTA).
- score at least CLB 4 in English/French.
● Manitoba Entrepreneur Pathway
Manitoba Entrepreneur Pathway is developed for experienced individuals globally who wish to establish, acquire a business or become partners in an existing one in Canada. The successful applicants under this program will need a temporary work permit and must meet business requirements within the first 24 months of arrival in Canada.
To be eligible, you must;
- have minimum 3 years of experience in the management of a qualifying business.
- invest CA$150,000 for business outside the Manitoba’s capital region (or CA$250,000 within the Manitoba’s capital region). ● have a net worth of CA$500,000.
- have minimum CLB/NCLC 5 in Language Proficiency Exam.
● Start-Up Visa
Unlike other countries, Canada encourages and embraces the startup community through its ‘No-conditions attached’ Start-Up Visa program. It is explicitly launched to compel budding entrepreneurs to make Canada their home.
The primary benefit of applying through this program is that the successful applicants will enter Canada as permanent residents regardless of their venture’s success.
Eligibility criteria include:
- establishing or acquiring a qualifying business.
- obtaining a letter of support from a designated organization
- meeting the language requirements
- bringing enough money to settle
Our Immigration, Relocation, and Business Advisory Services
At i-Can Advisory Group, we are a team of specialized experts with extensive experience in the business advisory and immigration field. Whether you want to establish a franchise, acquire a business, or expand your existing business, we will be your go-getters.
We advise businesses and budding entrepreneurs on expansion, operational strategy, organizational strategy, and more. Our personalized, unique, and compassionate approach has helped many build their fortune and legacy in Canada successfully.