Canada has long been a popular destination for business immigration. The country provides ample opportunities for business owners to run their commercial endeavours, and continues to witness a steady influx of foreign entrepreneurs launching ventures in each of its provinces.
Fortunately for these individuals and their families, the Canadian Government views the growth of business immigration as a valuable asset for its local and national economies, and has worked hard to attract highly qualified, entrepreneurial-minded business owners to this end.
The top 4 reasons why Canada entices foreign business entrepreneurs to immigrate into the country:
1. Help building the economy
The revenue generated from companies operated by foreign talent is a key motivating factor for the government to encourage business immigration, but the economic returns go beyond business owners’ immediate income streams. Substantial domestic skill gaps exist in many of Canada’s major metropolitan regions, gaps that can be filled by talent from abroad. In particular, valuable skill sets in the healthcare, IT, and tech communication sectors are increasingly being provided by foreign entrepreneurs who offer diverse, highly in-demand talent. These individuals in turn help create local jobs. As of May 2019, the Federal Start-up Visa Program has helped launch roughly 200 startups, thus providing much-needed jobs for a growing Canadian workforce.
2. Bring in technology advancement and skill sets to attract companies
The benefits of foreign entrepreneurial talent have a wide-reaching effect on the types of businesses attracted to Canadian labor markets capable of meeting their needs. The key demand these internationally dominant brands have in common is for technology advancement and associated skill sets that can help further the development of these high-tech organizations. Thanks to local startups launched via a successful business immigration platform, Canada has attracted business from tech giants such as Google, Facebook, and Microsoft. Since having these big-name companies in the country help encourage other foreign entrepreneurs to work in Canada, the government considers business immigration a win-win.
3. Stimulate natural resources with innovation
Canada’s economic sustainability goes hand in hand with maintaining the stability of the country’s natural resources. In order to keep its commercial exports (e.g. natural gas, oil, coal, timber, fish, etc.) flowing, the government is always looking for individuals capable of developing innovative tech solutions to properly manage these natural resources and provide long-term sustainability for one of its most crucial industries.
4. Improve global standing
On the global front, Canada certainly has the ability to be an economic powerhouse; its abundance of natural resources alone position the country as a world-renowned trading partner. The government understands the importance of improving international relationships and recognizes the potential for entrepreneurial business immigration to forge economic ties with foreign countries. With the implementation of the Federal Start-up Visa Program, it is clear that the Canadian Government is strongly interested in attracting immigrant professionals who desire to create start-ups capable of competing on a global scale.
Are you a motivated entrepreneur wanting to start a business in Canada? Download a free copy of our Canada Start-Up Visa Program Checklist to learn more about the benefits of getting a Canada investor visa.