As a foreigner, can you start your own business in Canada? Or would you like to know how to start a business in Canada as a foreigner? You might require a Canada entrepreneur visa to do so. But, first of all, read the blog below to know it all!
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Can Foreigners Start a Business in Canada?
As a non-resident, if you wish to start your own business in the beautiful country of Canada, then you might want to check what we have got you below!
First, you should immigrate to Canada. To immigrate to Canada for the sake of running a business there, there are two visa programs available to you.
The first one is a Start-Up Visa. This, exceptionally, brilliant visa is for the immigrants who are, also, entrepreneurs and they wish to shift to Canada so that they could start a business there.
Second is the Self-employed Persons Program. This one helps those people who are immigrating to Canada to start a business. Their business needs to relate to fields such as entertainment, arts, and sports. Thus, this program is for specific individuals only.
Steps to Start Your Own Business
1. Acquiring a Multi-Entry Visa:
For those, who still haven’t decided where in Canada they wish to settle their business in, can go for this visa. This visa will, unquestionably, let you enter and depart Canada for around 10 years. And, this too without any worries! What’s more, is that it allows you to explore the country and visit several times before you can make the decision of which place to choose. Furthermore, there are some other visa programs you can look at too.
2. Registering Business:
Some jurisdictions require a company director, who could be a Canadian citizen or even a Canadian PR holder, in order to register the business. However, if you don’t have a Canadian director or maybe you don’t want to hire one, then you, also, have the option to start that business in British Columbia. British Columbia is the only province that lets foreign nationals own the corporation totally.
3. LMIA Application:
You, absolutely, cannot start operating your business if you did not apply for a Labour Market Impact Assessment or an LMIA of your business. LMIA ensures that the foreign operating a business won’t be negatively influencing the labor market of Canada.
4. Applying for a Work Permit:
If your LMIA is positive, then now, you can apply for a work permit. Work permits are different from visas. Furthermore, you need a permit so you could conduct your business in Canada.
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