One of the best ways to immigrate to Canada as an Entrepreneur is through a mechanism called the Significant Benefit Work Permit. Check out below for more information on advantages, who can qualify, and a full breakdown of the program.
Amongst the numerous Canadian business immigration programs for entrepreneurs, the Significant Benefit Work Permit remains very attractive as:
- What brings significant benefits can be widely interpreted
- This is a federal program so there is no need to obtain the approval of a province hence saving lots of time
- There is no minimum investment requirement. The amount of investment depends on the type and needs of the business
- You can open the business anywhere in Canada
- You can rent instead of buying
WHO CAN QUALIFY?
You should consider this program if:
- You want to own and manage a business in Canada
- You have the financial capacity to operate such business
- Have a unique service or product or process
- That can bring significant economic, social and/or cultural benefits to Canada
WHAT CAN BE A SIGNIFICANT BENEFIT?
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:
- Job creation
- Knowledge transfer to Canadians
- Culturally inclined products
- Business geared towards exportation
- Business located in a more rural region which will boost that region’s economy and diversity
PREVIOUS EXPERIENCE IN THE INDUSTRY
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:
- Articles you wrote about you and your projects
- Employment contracts
- Business license and balance sheets if you owned a similar business in the past
For a detailed breakdown of the program, please refer to the table below:
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