Top Canada Business Visa Programs for 2023

Canada has positioned itself as an alluring hub for several overseas investors, Entrepreneurs, and Start-ups in 2023. Multiple Canada Business Visa Programs have been launched for catering to an assorted range of overseas investors who seek to migrate to Canada.

A single program cannot be suitable for everyone. Thus there are diverse federal as well as provincial pathways that can be utilized for Canada PR Visa application inclusive of family. Every program has been designed for attracting a particular kind of overseas investment and responding to the specific business needs of immigrants.

You can run your business in Canada on a Work Visa after obtaining approval for a business visa program. Your spouse can get Open Work Permit and Study Visas for your school-aged kids. Later you and your family can qualify for Canada PR Visa in 1 or 2 years based on your Business Visa.

The Best Canadian Business Visa Programs

At present, there are 3 Federal and multiple Provincial Canada Business Visa Programs.

ICT - Intra-Company Transfer Program 

Businesses having current operational overseas business enterprises seeking expansion in Canada are suitable for ICT Program. While the name denotes a ‘transfer’ it is actually an expansion of business in Canada. It is through transfer as an employee from the home nation’s operations to the new operations of your business in Canada.

Start-Up Visa Program 

Owners of reputed Start-up firms with working ideas and little current monetary background are ideal for SUVP - Start-Up Visa Program. It requires obtaining Support Letter or Investment Funds from a designated organization in Canada.

To obtain this, your Start-up must generate revenue already and possess an evident plan for the business, and fulfill other requirements. SUVP is accessible to Start-Ups and a maximum of 5 Founders inclusive of family members who can get Canada PR Visas.

C11 - Entrepreneur Visa

Immigrants seeking to buy or make investments in a current business in Canada are suitable for Entrepreneur Visa. It is also applicable for overseas investors seeking to launch a new firm in Canada. Similar to other Business Visa programs you can qualify for a Canada PR Visa later inclusive of family.

PNPs - Provincial Nominee Program

Immigration Programs for overseas entrepreneurs are also operated by Canadian Provinces. 17 Plus Provincial business immigration programs are available. PNPs are not appropriate for all business migrants. Any one of the above Federal categories can be easier and more efficient for you.

5 Requirements of a Canada Business Visa

Every Business Visa program has unique criteria as it has been created for catering to a particular kind of overseas investment. Nevertheless, there are 5 common requirements for applicants who must:

• Possess CAD 350,000  to 100,000 for launching their business in Canada
• Have the skills, experience, and ability to successfully manage their business
• Possess a successful business currently or be ready to launch or invest in a business in Canada
• Have a well-planned, realistic, and effective business strategy for your business in Canada
• Possess comprehensive knowledge of the immigration policies and framework for immigration to Canada

Canada Business Visa Application Process

The Business Visa Application Process will differ based on the chosen immigration program for business immigration. The general process of application can be categorized into the steps below:

• Step 1: Purchase or launch a company in Canada
• Step 2: Create a plan of business prior to submission of the Work Permit application
• Step 3: Get a job in your firm in Canada
• Step 4: File Work Permit application including suitable applications for your members of the family
• Step 5: Manage your business
• Step 6: Based on your chosen immigration program apply for Canada PR Visa after operating your business for 1 or 2 years
• Step 7: Qualify for citizenship in Canada

Processing Time

Your Business Visa application can be processed in 1 to 8 months largely based on your immigration stream. A few Federal immigration pathways can require on average 3 months while PNPs can take approximately 8 months. It must be noted that processing times here refer to Work Permit applications that authorize managing the company in Canada.  

Costs

The costs for a Business Visa application can range from CAD 4,355 to CAD 2,140. The cost is low if you are immigrating alone and increases with the inclusion of spouses and children in the application. It increases by roughly CAD 230 for each child. The costs are inclusive of only the fees for application determined by the Canadian Government. Extra costs are applicable for various application requirements.