Can you secure your green card before arriving in the US as an investor or professional entrepreneur? Is this option available in Canada as well?
If your country of citizenship doesn’t have an E-2/E-1 treaty with the US, which third country provides the best path to obtain E-2 treaty status for your US ambitions if you’re not willing to risk US$800,000 for a conditional green card?
We’ll compare the main programs and explain why Canada could be a promising third-country option for your US aspirations. Which country offers the most practical Startup Visa program? Entrepreneur or Intra-Company Transfer program? We’ll assess them all in this article, providing straightforward insights, just like in our other articles.
The US excels in passive investment programs like the EB-5, where you invest your money and hope the project succeeds, potentially leading to a green card.
While Canadian immigration is often considered more accessible and straightforward for obtaining permanent residency, they lack significant passive investment programs like the US, except for the Quebec Immigrant Investor Program, which recently faced criticism for requiring French language proficiency before processing PR applications.
Let’s compare key programs and determine the best options for reaching the US and Canada. We’ll identify which country offers the easiest, quickest, and most cost-effective programs for direct permanent residency or green card acquisition.
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Process for Canadian Investor Visa
Canada does provide provincial Entrepreneur programs, which serve as work permit pathways to permanent residency. The process involves several steps, is somewhat slow, and no longer offers direct PR before your arrival (or at least not since 2020, as these programs were discontinued). Currently, entrepreneurs or professionals must submit an EOI (Expression of Interest), undergo a net worth audit conducted by a third-party CPA/CA firm, participate in an interview, and then apply for a work permit to operate the business for 6 to 20 months, depending on the province, before being nominated for PR. Therefore, this entire process may take 1.5 to 3 years, and most provinces require minimum language proficiency, net worth, management, and work experience—although Saskatchewan is the sole province where proof of language proficiency is not mandatory.
Learn more about the leading PNP Investor Programs for Canada by watching our YouTube video.
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Process of EB5 Visa
In the United States, the sole entrepreneur program that allows you to invest and obtain your green card as part of a permanent immigration program is the EB-5 program. You might wonder why we’re not mentioning the E-2/E-1 or L-1A visas. This is because they are temporary programs and do not directly lead to a green card unless you file a special petition.
The EB-5 program mandates the creation of 10 jobs in the US through a commercial project. Interestingly, you cannot even secure a work permit to enter the US to initiate such a business; it must all be done remotely or through a partner. Hence, nearly all applicants opt for EB-5 projects facilitated by third-party entities, resulting in a significant market and profit for major US developers and regional centers.
The USA EB-5 investor program necessitates a minimum investment of USD$800,000 in one installment for areas with higher unemployment, which can increase to a maximum of USD$1.05m. One advantage of the US program is that you receive a conditional green card while overseas, and these conditions are lifted once your project successfully generates the required jobs. There are no language, education, or work experience prerequisites. The only requirement is to provide evidence of the source of funds and how they were accumulated. Processing times for the EB-5 program to obtain your conditional green card can vary from 1 year to 6 years, depending on your nationality and whether you’re investing in a rural project in the US or one of the major metropolitan centers.
Intra-Company Transfer Programs
Nearly all Western countries offer an intra-company transfer program akin to those in the US and Canada. In the US, it’s referred to as the L-1A visa, allowing for the establishment of branches, offices, or the transfer of existing employees between overseas branches. In Canada, it’s known as the Intra-Company Transfer program, utilizing exemption codes 61, 62, or 63 for similar purposes such as setting up branches, offices, subsidiaries, or relocating staff between existing operations overseas and within Canada.
The primary distinctions lie in the ease of approval depending on your nationality. Obtaining approval is typically easier in the US compared to Canada. Canada tends to have higher refusal rates, especially for smaller branches or businesses lacking a clear plan for significant benefit to the country, unless they are situated in rural regions or present an impressive business proposal. While the intra-company transfer (L1-A) in the US is not a permanent immigration program, the same applies in Canada. However, with proper design and planning, it can be integrated with provincial or Federal programs to transition to permanent residency. Additionally, in Canada, it’s feasible to switch to other programs after entering the country on another specific immigration program.
To learn more about the ITC program in Canada, watch our YouTube video.
If you’re considering immigrating to Canada through the ICT program and need guidance and support, you’re in the right place! At SINKA, we are licensed and have successfully assisted applicants from over 50 nationalities. Receive a FREE email assessment by clicking here.
Which country offers the most affordable access to the E-2/E-1 treaty program with the US?
As many of you may already be aware, or perhaps not, the US E-2/E-1 visa enables professionals and entrepreneurs to establish or manage a business. It’s a temporary immigration program and not permanent, as it does not directly lead to a green card. However, to apply for this program, you must be a citizen of a country that has an E-2/E-1 treaty with the US. This program boasts high approval rates for applicants, with over 80 countries qualifying for the USA E-2/E-1 treaty, allowing professionals and investors to establish or manage businesses.
For individuals not from these countries, the next viable option may be to pursue citizenship in a country that holds E-2 treaty status. Examples include Grenada, through its citizenship investment program, or Canada. Obtaining permanent residency in Grenada can cost over USD$200,000, whereas eventual citizenship in Canada may cost around USD$100,000.
It’s important to note that Canada also maintains bilateral agreements with numerous countries, including those in Europe, Mexico, the USA, Colombia, Chile, and South Korea, among others. These agreements are equivalent to the E-1/E-2 treaty in the US, facilitating easy access and approval for nationals or residents of these listed countries.
USA or Canada: Which Offers a Better Startup Visa Option?
The Startup Visa program in the US mandates an investment of over US$500,000 or substantial existing revenues, along with a stringent set of criteria that must be met for approval. They exercise great selectivity in determining who qualifies for application and approval. On the other hand, Canada’s Startup Visa program imposes no educational, work experience, minimum investment, or other prerequisites like those in the US. Permanent residency can be processed within 2 years in Canada, with the option of obtaining a work permit. While there are some challenges associated with the Canadian Startup Visa program, especially for individuals lacking documented work experience or sufficient funds to support themselves or their business, it offers greater flexibility compared to its US counterpart and boasts higher approval rates.
We often view the Canadian program as a stepping stone to the more rigorous US program. Moreover, the Canadian Startup Visa program allows 1-5 co-founders to apply together for direct permanent residency from overseas, including siblings, friends, work colleagues, or other eligible individuals. The primary eligibility criteria include language proficiency and a letter of support, both of which are relatively straightforward requirements that most individuals can fulfill.
To delve deeper into how IRCC handles Startup Visa (SUV) applications for Canadian permanent residency, check out our latest YouTube video.
We’ve provided you with a comprehensive comparison of the US and Canadian programs. While both countries offer reasonable options for investors seeking immigration or business setup opportunities, Canada can serve as a smoother transition point in certain cases for moving to the US. Additionally, in some instances where available funds and language exams are not a concern, the US’s EB-5 investor program may also be a suitable option.
Whether you’re considering the US EB-5 program, the Canadian Startup Visa, Intra-Company Transfer programs, or provincial Entrepreneur streams, feel free to reach out to us for a personalized 1-on-1 consultation.
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