Amongst the numerous Canadian business immigration programs for entrepreneurs, the Significant Benefit Work Permit remains very attractive as:
You should consider this program if:
The law does not define precisely what significant benefit really is which leaves room for interpretation based on the facts of each case. Nonetheless, we can agree that some key benefits Immigration, Refugees and Citizenship Canada will look at would be:
Like any other business immigration program, any applicant to the Significant Benefit Work Permit program should be able to demonstrate prior experience and knowledge of the industry in which you want to do business in Canada. The more accomplished you are in the field, the stronger your immigration application will be.
Prior experience can be demonstrated in several ways, such as:
For detailed breakdown of the program, please refer to the table below:
|PROGRAM||SIGNIFICANT BENEFIT WORK PERMIT|
|GOAL||OPEN A BUSINESS THAT WILL BRING SIGNIFICANT ECONOMIC, SOCIAL OR CULTURAL BENEFITS|
|WHERE||ANYWHERE IN CANADA|
|WHAT YOU GET||2 YEARs WORK PERMIT|
|ACTIVE OR PASSIVE INVESTMENT||ACTIVE|
|MINIMUM INVESTMENT||No minimum investment amount but we do not advise anything less than $150,000.|
|MINIMUM NET WORTH REQUIRED
(can be husband + wife)
|No minimum amount but we advise at least $300,000 to make a stronger case. You need to show that you have the financial capacity to pay the operating costs.
Preferably corporate account, but some countries operate on personal accounts only.
|RENT OR BUY||You can rent or buy.|
After becoming a permanent resident of Canada, you can obtain Canadian citizenship (passport) after 3 years of residency in Canada. These 3 years do not need to be continuous.
some may not apply to your case and some can be replaced/added
|TIME (approximate)||4-6 months.|
|LANGUAGE REQUIREMENTS||NOT NEEDED.|
|MEDICAL COVERAGE IN CANADA (after obtaining a visa)||Yes.|
|OPINION||If you have a business concept that can bring significant economic, social, or cultural benefits to Canada, and have previous success in this field, this is definitively a program to consider.|
We help entrepreneurs set up their business and immigration strategy and execute on it.
We believe immigration is more than just a visa. We accompany our entrepreneurs during their entire immigration journey: from business set up to the first work permit, then permanent residency and finally, citizenship.
To book a consultation with a lawyer and explore your business immigration options, email us.