It looks like Alberta immigration services are following the footsteps of Japan wholeheartedly. They are introducing new programs for international graduates, whereby they can launch a business in the province.
The all-new International Graduate Entrepreneur Immigration Stream has kickstarted from October 26, 2020. Again, a new Foreign Graduate Start-Up Visa Stream will open in January 2021 for the international graduates.
There is yet another program that Alberta is introducing for giving an impetus to the economic recovery post coronavirus pandemic. The name of the program is the Alberta Immigrant Nominee Program. The Alberta province is hopeful that the new programs will boost investments and jobs.
Let us first discuss the International Graduate Entrepreneur Immigration Stream. This program has already begun for the Expressions of Interest. It is for the international graduates in Alberta who dream of setting up a business and running it in the province.
Candidates who have graduated from the Alberta post-secondary institutions can apply for this program only after setting up a business and operating it for a year. They have to be on the work permit and do the business in Alberta. Candidates can apply for permanent residence after meeting the eligibility criteria of the Business Performance Agreement.
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How to apply for the permanent residence
Here are a few steps to apply for permanent residence.
1. Submit the EOIS: Candidates have to submit the Expression of Interest(EIOS) when they fulfill all the requirements. The authority will review their submissions and give them a score within 30 days of submission. Candidates with the highest rank can submit the Business Application.
2. Submit Business application: When the Expression of Interest (EIOS) documents of the applicants are approved, they can apply for the Business Application within three months. They have to pay a non-refundable $3500 application fee for this.
3. Set up business in the province: Once the business application gets approved, candidates will get a signed Business Performance Agreement (BPA). It is a legal document that both the Alberta government and candidates have to sign and submit within two weeks. Once it is done, candidates will get the Business Application Approval Letter.
Candidates can start living in Alberta without any worry after receiving the business application approval letter. They can set up a business and run it for a year with thirty-four percent ownership.
4. Submit the final report to AINP: When the candidates have met all the terms and conditions of the business performance, they can submit the final report for nomination to the AINP. They will forward the nomination certificate to immigration Refugees and Citizenship Canada (IRCC). The candidate will receive the nomination letter and then apply for permanent citizenship to IRCC.
What are the other requirements that candidates have to meet?
There are a few requirements that candidates have to meet to qualify for the streams. Let us discuss them one by one.
1. Candidates should have at least six months of full-time work experience. The work experience can be of running a business or owning a business, or both.
2. Candidates must have completed two years of full-time higher education courses in the Alberta province. They should show a degree or diploma from a recognized University or college in Alberta. The course should allow students to be eligible for the post-graduation work permit.
3. Candidates have to show the Post-Graduation Work Permit (PGWP). The permit must be valid for two years when the candidates are submitting the Expression of Interest (EOI).
4. Candidates must show that they have achieved the Canadian Language Benchmark (CLB) – level seven. They should have the language proficiency to speak, listen, understand, write, and read.
5. Candidates have to prove that they have set up a new business or have bought an existing business with around 34% ownership. The business must be legal. Candidates should check the list of legal businesses in the Alberta province before buying or launching a business. For example, payday loan businesses are not legal in Alberta. So, candidates should avoid setting up a business on payday loans. Again, a business on sexual products or pornography is banned here. So, candidates should stay away from this business also.
What other factors can help candidates to qualify for streams?
Certain factors can help to increase the chances to qualify for the streams, and they are as follows:
Candidates can increase their chances to qualify for the streams by fulfilling the following factors:
- Promoting economic development through the creation of jobs.
- Working on the economic sector of Alberta.
- Setting up a business in a proper location.
- Making adequate and qualified business investments.
- Developing intellectual property.
- Leading to business succession.
- Getting adequate support from venture capitalists or angel investors or business incubators.
A few other factors that candidates have to consider:
- The age of candidates must be between 21 and 49 years.
- The candidate’s spouse has a year or full-time job in Alberta.
- The candidate’s spouse has done a full-time two-year study at the post-secondary education institution in Alberta.
- The candidate’s spouse has at least CLB 5 in English or NCLC 5 in French. He or she should have proficiency in writing, reading, listening, and speaking the language.
- The candidate or his/her spouse must have one or more than one relatives in the province. They should be living in the province full-time. For example, mother, father, step-father, step-mother, child, sister, brother, step-brother, or step-sister.
The maximum score that any candidate can get is 125. Candidates can get around a 75 score in the business establishment sector. They can get a maximum of 25 points in the adaptability sector. Again, they can get almost 25 points in the human capital sector.
Canada and Japan are taking constructive steps for a quick economic recovery post the COVID-19 massacre. Japan has also introduced new visa rules where eligible candidates will have an opportunity to stay in the country to set up a business. Alberta has presented a clear and well-defined program to encourage international graduates to turn their entrepreneurial dreams into a reality in the province. They can do business, gain work experience, and lead enriching financial lives in the province.