The Canadian government started specific new immigration programs to attract entrepreneurs worldwide. Individuals who Immigrate with a start-up visa will be given funding and the support needed to thrive in their businesses. In return, Canada banks on these businesses to grow, add value to the overall economy and create more jobs for Canadians.
99.8% of Canadian businesses are small or medium-sized companies with less than 500 employees, employing more than 8.3 million people. Small businesses contribute almost 38.4% of Canada’s Gross Domestic Product (GDP). Best Business Opportunities in Canada, proving that it is the ideal and one of the most lucrative options for those considering business immigration to Canada.
Canada celebrates entrepreneurship, allowing start-ups to flourish, particularly immigrant and women-owned businesses, which make up a third of Canada’s small to medium-sized companies. According to Statistics Canada, immigrant-owned businesses tend to create more jobs in Canada, even more so than businesses owned by Canadian-born owners.
An immigrant can start almost any kind of business in Canada, depending on their skills. There are a wide range of Business Opportunities in Canada for Indians. However, a few types of companies especially seem to fit immigrants well.
There are several business opportunities in Canada for immigrants. Here is a list of a few:
1. Agriculture Sector
Canada's agricultural and agri-food sector is one of Canada's largest and most lucrative industries, accounting for $49 billion of Canada's GDP. What makes it such a viable option for business immigration to Canada is that there are so many options available for those wanting to immigrate to Canada due to the high demand for workers in certain occupations.
This makes it easier to find qualified and skilled workers in professions such as Farmworkers, truck drivers, and meal processing jobs such as butchers. Popular provinces for agricultural business opportunities in Canada for immigrants include Ontario, Saskatchewan, Alberta, Manitoba, and British Columbia.
2. Professional, Scientific and Technical Sectors
Canada's professional, scientific, and technical sectors are a steady source of revenue and an excellent option for those looking for lucrative business investments or business immigration options to Canada. Provinces to consider setting up shop include Alberta and Ontario, which have shown considerable growth over the past couple of years.
These sectors are growing at such a rate that certain provinces such as British Columbia and Ontario have dedicated immigration streams specifically for tech professionals to help fill the demand for an ever-growing market.
3. Construction Sector
Construction has been a steady investment for business investors and those considering business immigration to Canada. With the increase of new development projects nationwide, more construction companies are needed to help carry the load and meet Canada's specific local and territory needs. Areas that have seen substantial growth are those in the commercial rather than the residential sector.
There has been an exceptionally high demand in Ontario. The province actively seeks international skilled workers to fill the labour demand in occupations such as project directors, construction managers, and general construction labourers interested in immigrating to Canada through its construction industry.
4. Accommodation and Food Sectors
Canada's accommodation and food services are a booming sector. Despite the current hold imposed due to the COVID-19 lockdown, the industry is expected to bounce back once lifted restrictions. Once again, various occupations are in demand in the tourism and hospitality industry, making it easy to find staff with the experience and skills in fields such as food and beverage servers that you will need to make your business a resounding success.
When considering business immigration to Canada, provinces to look at include British Columbia, Alberta, Saskatchewan, Manitoba, Prince Edward Island, New Brunswick, Newfoundland and Labrador, and Nova Scotia.
5. Wholesale and Retail Sectors
There is a massive increase in wholesale and retail areas such as general merchandise, gasoline stations, and motor vehicle and parts dealerships. Retail has also been an enormous surge in the need for medical supplies as the Coronavirus pandemic increases the demand worldwide.
Research shows that you may want to consider provinces such as Alberta, Saskatchewan, Alberta, and British Columbia when weighing up your options for business immigration to Canada, as they have shown considerable growth in previous years.
Other Options for Entrepreneurial Immigrants
Those who have specific skills may want to purchase a business for sale that matches up with those skills. An immigrant who has training as a medical professional could look to buy medical practice, jumping into a business that already has a client base.
One final way immigrants start a business in Canada is by migrating a business they have in their home country into Canada. Some people may decide to continue operating the company in the home country, opening an additional location in Canada, while others may completely move the business to Canada. This may be the best option for those who are already entrepreneurs when immigrating to Canada.
Business Immigration to Canada
A good Canada Immigration Consultant will guide efficiently with the visa processing and other suggestions regarding occupation.
1. Start-Up Visa
The most famous avenue to take when considering your business immigration to Canada is the Start-up or Investor Visa Program. This immigration program aims to create new jobs and bring fresh, innovative business ideas to Canada.
There are basic business requirements that need to be met to qualify, including having a letter of support from a designated organization, meeting language requirements, and having sufficient settlement funds. Visit our website by clicking the link above to see if you qualify.
2. Provincial Nominee Program (PNP) - Entrepreneur Streams
If the start-up visa option does not suit your individual business needs, you may want to consider specific provincial nominee streams. Almost all provinces and territories have at least one or more business or entrepreneur streams. They aim to address the need for innovative business ventures that can help boost the Canadian economy and create new jobs for Canadian and international talent alike.
Navigating the Canadian immigration system can be tedious, with a copious amount of forms and documents to complete and strict submission dates.
3. Self-Employed Persons Program:
If the applicant is looking to work in a self-employed person program, Canada has several federal and provincial regulations for immigrants to follow. The federal laws require that you have experience from somewhere else in the world in the type of work you want to do.
Immigrants may need to go through a medical exam and have a certain amount of money available, depending on the size of the family who will be immigrating. If you are applying alone, one will need at least $12,960 in Canadian dollars. This is money for your initial living expenses, not for governmental fees. Federal authorities will examine the application before issuing approval or denial.
Legal Requirements for an Immigrant to Start a Canadian Business
One of the most challenging aspects of starting a business for immigrants is dealing with the legal process. Depending on the type of business, one may have to undertake several steps to be a legal business to meet federal regulations. Here are the steps:
1. Holding a physical address for the business
2. Registering a business name (to protect the name)
3. Undergoing incorporation, if needed
4. Applying for a business number
5. Applying for business permits and licenses
6. Paying any governmental fees associated with the business
Make sure to get started on this journey and brainstorm a modus operandi as soon as possible to make this shift an effective and smooth one.
While making your shift make sure to make a perfect plan to kick start your business journey. With the right services and good skills your business shift could be one of the most exciting and thrilling experiences!
