HIGHLIGHTS:
Buying a Franchise in Canada can be both attractive and risky option at the same time. For a foreign entrepreneur or business owners it seems an interesting pathway to immigrate to Canada and get a permanent residency (PR) status. Starting a whole new venture can be difficult and risky for a business immigrant due to lack of experience in the new market. Although, investing your funds in buying a franchise allows you to build on a brand that is already well-known and profit making business in the track records that gives you ultimate success in Canada.
In this blog let’s learn more about how to buy a profitable franchise and what are the pros and cons of buying a franchise. We will also be sharing some tips for choosing a right franchise option.
Recent reports showed Canada is facing shortage of labour in healthcare sector due to extensive demand and less number of health care workers. With time it is now becoming a subject of public concern.
Recent data showed that there are 958,800 Job vacancies in Canada having 152,000 specifically in field of healthcare as of August 2022. This led some hospitals to close their emergencies room temporarily due to shortage of staff.
Canada held its latest all-program express entry draw on November 9.
Immigration, Refugees and Citizenship Canada (IRCC) invited 4,750 candidates to apply for permanent residency of Canada with the minimum CRS (Comprehensive Ranking System) score of 494. The eligible candidates were invited from the Canadian Experience Class (CEC), Federal skilled worker program (FSWP), and Federal Skilled trades program (FSTP); all operates under the category of Express Entry system.
British Columbia is the third largest and westernmost province of Canada. It offers vast opportunities for immigration pathways under Provincial Nomination Program (PNP). It helps many entrepreneurs to enter into the country via BC PNP Entrepreneur Stream. Among them one such program is BC PNP’S EI Base Category. This EI (Entrepreneur Immigration) Base Category allows entrepreneurs having a strong intent to establish new business or buy an existing business in British Columbia by securing a minimum investment and initiate a path towards their PR journey.
WHO IS ELIGIBLE TO APPLY?
| ELIGIBILITY CATEGORIES | MINIMUM REQUIREMENTS |
|---|---|
| Experience | More than 3 years of experience as a business owner, or 4+ years of experience as senior manager or combined 1 year of experience as business owner & 2+ years of experience as senior manager |
| Net Worth | CAD 600,000 |
| Education | Post-Secondary Certification (Degree, Diploma, Certificate) or at least 3 years of experience as business owner in last 5 years |
| Investment | CAD 200,000 |
| Ownership Percentage % | At least one-third (33.33%) |
| Language Requirement | Basic of English or French proficiency with CLB 4 |
| Hiring for Job | Must recruit at least one Canadian Citizen or Permanent residence for full-time equivalent job. |
The Saskatchewan Immigrant Nominee Program (SINP) carried out an Entrepreneur draw on the 3rd of November. The draw on November 3 issued invitations to 55 candidates including the Expression of Interest (EOI) scores ranging between 85 and 120.
