Provincial Nomination for business applicants is based on your managerial business skills and planned business activity in the province or territory of your choice.
It is of the essence to understand that Provincial Nomination programs were designed to attract individuals who have a sincere intent to co-habit and take up work in the province that has nominated them.
A Canadian province or territory may nominate you as a business person if you meet the criteria set forth by said province or territory for business persons. Every Province has its own criteria and standards for evaluating an applicant’s Business Experience with regards to business ownership and/or business management and legally accumulated Net Worth. Those factors are the basic two criterion for all Business Provincial Nomination programs.
Every Province has its own criteria and standards for evaluating an applicant’s Business Experience with regards to business ownership and/or business management and legally accumulated Net Worth. Those factors are the basic two criterion for all Business Provincial Nomination programs.
(i) Business Experience
Provinces or territories have various definitions of Business Experience: some provinces request that you demonstrate a minimum number of years of experience in a management position before you present your case. This will assists in proving your level of success in managing and/or operating a business.
(ii) Net Worth
Net worth can be defined as the fair market value of the assets that have been legally acquired by you or by your spouse/ common law partner.
Net worth can be cash, real-estate and/or publicly traded stocks. Shares that you own in your company may be taken into account when your Net Worth is calculated.
Provinces and/or territories have various requirements with regards to net worth; some provinces require a fixed amount of Net Worth; others require that you simply demonstrate to the officer that you have adequate net worth to establish yourself in the province and actually perform the proposed business activity.
Some provinces start their nomination process by granting a letter of support for a work permit (provinces do not issue immigration status, the Immigration, Refugees and Citizenship Canada (IRCC)has the sole responsibility of granting foreign nationals immigration (temporary or permanent) to foreign nationals). Once the foreign national has travelled to the province on a work permit, started his /her business and met the conditions set forth in the Provincial Nominee programme guidelines, the foreign national may then be nominated for Permanent Residence status.
Nominated individuals are expected to enjoy expedited processing of their applications for Permanent residence status. Notwithstanding all the aforementioned, nomination by a province or territory does not guarantee the issuance of permanent residence status. Every person wishing to become a permanent resident must undergo the admissibility screening for criminality issues or health problems which is performed by the Immigration, Refugees and Citizenship Canada (IRCC) .
