Canada Ranks As the Best Country for Immigrant Entrepreneurs

In a recent report released by the Organization for Economic Cooperation and Development (OECD), Canada has emerged as the frontrunner among all 24 OECD countries in terms of attracting immigrant startup founders and entrepreneurs.

This accolade positions Canada as an enticing hub for foreign innovators to establish and grow their businesses, outshining notable contenders like the United States, France, the United Kingdom, Sweden, and Australia.

“Canada is a great place to start a business,” said an economist at the OECD. “It has a strong economy, a skilled workforce, and a supportive government. We believe that Canada will continue to be a top destination for immigrant startup founders and entrepreneurs in the years to come.”

How to Come to Canada as An Entrepreneur

Canada offers a variety of immigration pathways and work permits for entrepreneurs, investors, and self-employed persons. One of the most popular options is the Start-Up Visa program, which grants permanent residence to immigrant entrepreneurs as they become established in Canada.

Paving the Path for Entrepreneurs to Canada

Aspiring entrepreneurs looking to call Canada their business home have a range of pathways to explore:

1. Start-Up Visa Program

This program enables immigrant entrepreneurs to attain permanent residency while contributing to Canada’s economic landscape. Prerequisites include language proficiency, sufficient settlement funds, approval from designated organizations, and compliance with ownership criteria.

2. CUSMA Investor Work Permits

Citizens of the US and Mexico investing in Canadian businesses under the Canada-United States-Mexico Agreement (CUSMA) may qualify for investor work permits. This category mandates job creation and local economic benefits.

3. Intra-Company Transfer Work Permit

Entrepreneurs with established foreign businesses can leverage this permit to expand operations to Canada, fostering multinational collaboration and growth.

4. Entrepreneur/Self-Employed Work Permit

Tailored for owners of Canadian businesses or those planning expansion, this permit requires evidence of significant economic, social, or cultural contributions.

Eligibility

To be eligible for the Start-Up Visa program, applicants must meet the following criteria:

• Meet minimum language requirements in English or French
• Have sufficient funds to settle in Canada
• Plan to settle in a province other than Quebec
• Pass Canadian security and medical clearances
• Prove your business is supported through a designated organization
• Show your business meets ownership requirements

Other Immigration Pathways

In addition to the Start-Up Visa program, Canada also offers other immigration pathways for entrepreneurs, such as the Investor program and the Intra-Company Transfer program.

Conclusion

The OECD’s ranking of Canada as the most attractive country for immigrant startup founders and entrepreneurs is a testament to the country’s strong economy, its welcoming society, and its favourable business environment.

If you are an entrepreneur who is considering immigrating to Canada, there are a variety of pathways available to you.