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Which provincial investor programs are the best and which ones are the worst? We’ll cover those in our top 3 and lowest 3 ranking programs across all of Canada. Remember that while we are going through these programs, not everyone’s case is the same and there are certain criteria that could be more important for your case than others. Therefore, it’s always important to do your homework and research which program best suits you and your family for converting to PR in Canada.
We are comparing the best vs the worst Provincial Nominee Entrepreneur investors programs. Not all entrepreneur programs are created equally, we will go over a high-level overview of the worst vs the best here in Canada if you are considering converting to Permanent Residency (PR) as an investor/entrepreneur.
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Let’s start with #3 on our worst list, and you may be surprised. We always promote Nova Scotia and we believe it’s one of the most immigrant-friendly provinces in Canada and has one of the best Skilled Immigration PNPs out there. The provincial office is very supportive and it’s definitely on our list of places to apply, however, the reason it is on our worst provincial Entrepreneur programs today at #3, is due to the following factors:
1: It closed its entrepreneur program for 11 months in 2022, while most provinces kept it open, which gives us a sign that entrepreneurs may not be prioritized in this province.
2: And the main reason for being in the #3 spot today is due to its points-based matrix. Although it has one of the lowest investment options across all provinces, the points-based selection system is skewed in a way that if you do not have any ties to Nova Scotia (i.e. have previously studied or worked, or have a family) you will not obtain enough points to be selected even if you have over $3 million of net worth and want to invest $300,000 or more. The issue is that there is not enough weight given to your investment, net worth, or other factors. Even if you have a perfect profile for an entrepreneur program and apply to be invited to Nova Scotia, your chances are not great due to their not-so-balanced points-based system.
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Number 2 on our list today of the worst Entrepreneur investor programs is the Ontario program for inside the GTA (i.e. within the city of Toronto). The main reason for being # 2 on our worst investor program is that it has the highest investment and net worth requirements of ANY provincial entrepreneur program in Canada. It’s ridiculous with an $800,000 net worth minimum requirement which is the highest of any province, and a $600,000 minimum investment inside Toronto – again being the highest of any province within the entrepreneur programs.
Yes. some applicants can meet these requirements and we have processed cases for this program, but it is not for everyone. And even when you invest that much, you are not fast-tracked. The interesting part is that we still believe that the ‘outside GTA’ program is still one of the better programs out there, but the inside Toronto aspect of this entrepreneur investor program makes our list one of the worst out there, not being an immigrant entrepreneur friendly.
And if you haven’t guessed yet, the worst single program amongst all the provincial entrepreneur investor programs across Canada is the BC base category, which means anyone interested to invest in the greater metropolitan region of Vancouver would have to apply to this program. There are several reasons why we don’t like this program as representatives for entrepreneur applicants although we have processed clients through this stream on a regular basis:
1: It has one of the most difficult approval stages after you are nominated. You would figure that after you are invited to apply from their pool of applicants who had submitted Expressions of Interest, it would be easy sailing. However, it has one of the highest refusal rates after the interview at the BC PNP office in Vancouver.
2: Their program has been made so difficult in terms of gaining enough points and other criteria that the number of people who have applied has dropped to 1/5th of the original intake number since 2019.
3: Less than 21% of all applicants that apply on their EOI system (Expression of Interest) receive an invitation to apply.
Don’t confuse this BC PNP entrepreneur base category with the regional pilot program which is designed outside the Vancouver area for investors, as we move on to our top 3 entrepreneur programs across all of Canada.
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On our list, as # 3, as one of the best entrepreneur investor programs for immigrant investors who want to run a business inside Canada and obtain their Permanent Residency (PR) is Prince Edward Island. It is in our top 3 best entrepreneur PNPs because it has one of the lowest investment amounts at $150,000 and more importantly, it has one of the fastest nomination processing timelines across Canada. This means that after you have run your business inside this small province for a minimum of 12 months and submitted your final report to the PNP (provincial) office, your nomination certificate can be processed within 2-3 months which is the fastest amongst all provinces. Most provinces can take up to 6 months, which you don’t read or hear about on their websites. This is a very crucial part of the PR application process that many people miss in their calculations when selecting a province for their investment, settling with their families, and converting to Canadian PR. It’s officially one of our favorite PNP Entrepreneur streams across Canada.
Let’s move on to #2 on our list of the best entrepreneur investor programs across Canada, the BC PNP Regional Pilot program. Don’t confuse this with the BC PNP base category program, as the Regional Pilot is the BC PNP stream for investors and entrepreneurs which allows you to invest in the participating rural communities with a work permit and to become eligible for a PR nomination after 12 months of running the business inside these small towns. The number one reason it’s on our list is that it has officially the lowest investment requirement of any program across all provinces at $100,000 Canadian dollars and the lowest net worth requirement at $300,000 Canadian dollars. It's not easy to get through to the communities if you don’t have contacts there already in order to obtain a referral from them to be approved to apply to the BC PNP Entrepreneur stream.
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Drum roll….and our #1 provincial nominee Entrepreneur program for immigrant investors is the Manitoba PNP Entrepreneur stream, and there is literally only one reason it’s on our list today which no other province across Canada can claim except Manitoba. You can apply to be nominated by the province after setting up or running your existing business which you purchased inside the province after 6 months, which is half as long as any other province in Canada. You still need $500,000 minimum net worth between you and your spouse in terms of fixed assets, liquid funds, and so forth, but you also have the option of investing a minimum of $250,000 inside Winnipeg (the capital) or $150,000 outside the capital region which also makes it quite competitive. But after 6 months of running the business, unlike the 12 months in most provinces or 20 months in the more popular provinces, you can apply to the Manitoba PNP office to process your nomination. This is the fastest program out there and one of our favorites. Yes, it does become cold in the province, but if you’re planning to immigrate to Canada and are worried about the weather, then we suggest you look to another country.
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