Starting a new business in Canada as a foreign investor may open the door for PR opportunities. There are 2 ways for a foreign investor to start the new business:
Opening a new business
Buying a franchise
As your immigration representatives we will help you prepare for you Work Permit and subsequently your PR application.
Other than the usual documents we ask from our clients we ask from our business immigration clients the following business-related documents:
Availability of funds (to purchase the franchise or start a new business)
Market research (for franchise it will be provided by the franchisor)
Feasibility Study (for franchise it will be provided by the franchisor)
Evidence of relevant experience (previous experience or previous business ownership)
Franchise purchase agreement (for franchise business only)
Other business-related documents may be required depending on the type of business you are planning to operate.
When it comes to your immigration application here are some factors that must be taken into consideration for your application
Depending on the program the investment amount may vary but in general you should invest around $250,000 CAD or more to support your PR application and in general your profits in the future.
Owner or Executive
To have a strong PR application you need to be in the executive level of the business. As an owner it will be difficult to define that into your application for PR. so we advise you as the applicant to have an executive role in your own business.
The industry you are looking to operate on must be something you have experience in or transferable skills, in the meaning skills related to that type of industry, this will help improve your immigration application.
Will your business generate profits or is it going to operate on a loss. In this case operating a franchise will have an advantage as your franchisor can provide you with cashflow projections, market research and other estimates and data regarding your business.
While a new business will require you to provide those projections yourself and you will need those projections to be highly convincing.
Number of Employees
What immigration officers care about the most is the number of jobs you are going to create, in other words the number of employees you will have in your business, and what you should work on is to hire at least 3 or more employees.
Book a consultation
Book a consultation with us to so we can answer any questions regarding your business investor application for work permit and PR