Canada consists of 10 provinces and 3 territories. It is an immigrant-friendly immigration destination. Due to the presence of a large number of immigrants, it is often referred as immigrants’ paradise.
Canada–also known as the ‘Land of Milk and Honey’ and the ‘Maple Leaf Country’–is the fourth largest country in the world. It is a well developed nation that has a robust economy and it shares bilateral relations with many countries. Hence, it enjoys the status of being the friendliest and welcoming country in the continent.
The nation is unable to meet the demand of its labor market. While it has few skilled workers, the job openings are many. Federal Government has introduced many immigration programmes, yet several of its provinces and territories have their specific Provincial Nominee Programmes (PNPs).
Certain provinces–after mutual agreement with the Immigration, Refugees and Citizenship Canada (IRCC)–have introduced their own PNPs. The main aim: attract businessmen and investors who intend to start a new business venture, partner or manage the existing one, or simply invest in the province.
The main objective of the PNP is to encourage Foreign Direct Investment (FDI) and create new job opportunities for its citizens. Foreign businessmen and investors are likely to bring capital with them, and provinces and territories use this capital to boost their economy. In return, migrants get the liberty to live and work in the respected province/territory permanently.
Preference is given to those who have the ability and innovative business proposal to join the province’s/territory’s economy immediately. Thus, their application is fast processed. While businessmen with medium capital are considered, investors must be ready to shed extra capital.
- 1 Minimum capital required is CAD$ 350,000, condition. It must be legally acquired.
- 2 Investment should be made not less than CAD$150,000
- 3 The aspirant must have an innovative business plan.
- 4 He must agree to deposit good faith amount of $100,000 which is refundable at zero interest rate.
- 5 He must agree to participate in day-to-day business activities.
- 1 Minimum capital required is CAD$500,000
- 2 If the applicant wishes to invest in Saskatoon or Regina, then the capital required is CAD$300,000. And if he wants to invest in any other community, then the capital is reduced to CAD$200,000.
- 3 Applicant must have a strong business proposal along with three years of experience in the relevant field.
- 4 The category does not require a government deposit.
- 1 Applicant is required to have a legally obtained net worth of CAD$3,000,000.
- 2 He must agree to make an investment of CAD$1,000,000.
- 3 Neither government deposit is required nor is there a need of an exploratory visit.
- 4 A well researched, strong business plan is required.
- 5 Experience in the relevant field is must.
- 6 Through the business, the applicant must be able to create at least five new opportunities for Canadian Permanent Residents or citizens.
Besides many other provinces–like Northern Territories, Prince Edward Island, Yukon, British Columbia (BC)–Quebec also has its Canada PNP-Businessmen and Investors Programmes.