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Relocate Your Business to Canada/Start a New Business in Canada
Are you an entrepreneur who has been thinking about relocating your business to Canada or to start a new business in Canada? Have you wondered if you can bring your family with you to Canada as an entrepreneur?
The International Mobility Program (IMP) exemption code C11 is a way for investors and entrepreneurs to work in Canada and eventually become permanent resident without the need for a Labour Market Impact Assessment (LMIA), which is an authorization that Canadian employers must receive from the federal government before they can hire a foreign worker to work in Canada.
Self-employment
To come to Canada on a work permit under the IMP C11 exemption code, you must prove that you will be self-employed in Canada, which you can do by relocating an existing business to Canada, buy or set up a new business in Canada.
You must provide a viable and robust business plan that clearly articulates the potential benefits (socially, economically or culturally) of your business to Canada. Additionally, you must possess the financial resources necessary to implement your business plan.
Degree of Ownership
IMP C11 work permit applications are only considered if you own a minimum of 50% of the business you establish or buy in Canada. If your stake in the company is smaller, you must apply for a permit as an employee rather than as an entrepreneur or self-employed person. If the business has multiple owners, only one will be eligible for IMP C11 work permit.
Permanent Residence
Acquiring an IMP C11 work permit can lead to permanent residency. Immigration is a two-stage process. The first step is getting your IMP C11 work permit, and the second is applying for permanent residency. To obtain permanent residence through an IMP C11 work permit, you must:
- Manage your business in Canada for a minimum of 12 consecutive months with a valid IMP C11 work permit
- Fulfill the minimum requirements for the Federal Skilled Worker (Express Entry) program
- Receive an ITA (Invitation to Apply) for Express Entry by the IRCC
Once you comply with the conditions of your IMP C11 work permit and run your business for at least 12 months, you will typically receive 200 points towards your Express Entry profile, which in many cases would almost guarantee that you would receive an ITA. Depending on the province where your business is located, you may also be eligible for provincial nomination between 6-12 months of running your business.
In case you are wondering if your business must be profitable to maintain your work permit or to be eligible for permanent residency, that is not the case. The Government of Canada understands that in many instances, it takes a couple of years for new businesses to become profitable.
Initially, an IMP C11 work permit can be issued for a maximum of two years. An extension beyond this period can be granted if an application for permanent residency is being processed or under exceptional circumstances, such as awaiting a provincial nomination certificate or an investment project. You’ll need a letter from the province or territory expressing their support.
For more information, visit crestimmigration.ca or contact David Akinmoluwa on WhatsApp at +1(587)-974-8942 or info@crestimmigration.ca.
