Many entrepreneurs around the world dream about starting a business in Canada due to its prosperous economy. Those entrepreneurs who want to start a business in Canada will find different immigration options available to them, including the Rural Entrepreneur Stream of Alberta.
Entrepreneurs can now immigrate to Canada by starting or purchasing a business in one of the participating communities in Alberta, bringing innovation, economic growth, and job opportunities to the community. Apart from that, these entrepreneurs will be bestowed with benefits and opportunities for continuous business growth for displaying courageous risk-taking in starting a business.
Entrepreneurs from outside Canada who are interested in applying for the Rural Entrepreneur Stream and starting businesses in Alberta must meet the following eligibility criteria:
A minimum of three years of business ownership or management experience is required.
An Education Credential Assessment (ECA) is required if you hold a high school diploma equivalent to Canada’s educational standard.
Language proficiency levels must be at least 4 in all language skills of Canadian Language Benchmarks (CLB) or Niveaux de compétence linguistique canadiens (NCLC).
- Net worth must be at least $300,000.
- The assets you own must be either your own or owned by your spouse or common-law partner.
An equity investment of a minimum of $200,000 must come from your own and/or your spouse’s or common-law partner’s assets. You will receive more points for your application if your investment is higher.
- Business ownership must be at least 51%.
- Canada-based business partners must be citizens or permanent residents.
- The business you purchase must be owned by you 100%.
- Your business must be eligible to operate.
Newly established businesses must create at least one full-time job for Canadian citizens and permanent residents for at least six months. The more jobs you create, the more points you will receive.
Community Support Letter
A letter of community support from one of the Alberta participating communities is required.
Factors that May Increase Your Chances for Rural Entrepreneurship Stream
The factors listed above are not the only ones that may increase your chances of starting a business in Alberta. More factors to consider include:
You are the successor to a business already in existence and eligible for succession in Alberta.
You are between the ages of 21 and 49.
Spouse or Common-Law Partner
- At least one year of full-time post-secondary education must have been completed by your spouse or common-law partner.
- A minimum level of 4 must be obtained by your spouse or common-law partner in the English skills of the Canadian Language Benchmark (CLB) and/or the French skills of the Niveaux de compétence linguistique canadiens (NCLC).
- The date of your spouse’s or common-law partner’s test result should be no less than two years before the application deadline.
Relatives in Alberta
Relatives in Alberta must be Canadian citizens or permanent residents.
Eligible Businesses for the Rural Entrepreneur Stream
A business owner who plans to establish a business abroad must ensure that their business meets the eligibility requirements of the country. If you want to start a business in Alberta, you must demonstrate that the province will benefit from your venture. Applicants who do not meet these criteria are highly likely to have their applications rejected.
In Alberta, your business should align with these general criteria:
- Selling goods and services must generate active income for your business.
- Depending on the business’s operations, it must follow the applicable federal, provincial, and municipal legal, regulatory, and licensing requirements. Therefore, since you are setting up your business in Alberta, you are subject to its labor laws, such as standards of employment, occupational health, and safety legislation.
- Alberta’s trade certification requirements must be followed.
- There must be a physical store in the communities of Alberta for your business.
- Alberta residency and involvement in your business’ everyday operations are required.
Take your business dreams to the next level and apply for the Rural Entrepreneur Stream in Alberta!
Chitra & Associates can help you start your business and accomplish your business dreams! With our understanding of the Canadian market, we are happy to help you draft a business plan and manage your business needs, from license applications to renting a space.
If you are interested, book a consultation with us!