STEP 1: APPLICATION ASSESSMENT

• The candidate must be the owner of the business or hold 10-100% of the business shares

• The business must be operating and generating profits, with full tax compliance
• English language proficiency: CLB5
• Good health condition
• No criminal record
• Not applicable for candidates intending to settle in Quebec
• Must receive a support letter or commitment certificate from a designated organization approved by the Canadian government
• Must have sufficient financial resources to support their family for the first 6 months of living in Canada

STEP 2: WORKING WITH A DESIGNATED ORGANIZATION

A designated organization is an agency or organization appointed by the Canadian government to invest in and assist investors (candidates) in managing their businesses in Canada.

There are three types of designated organizations, namely: 

• “Venture Capital Funds”- Investment funds for high-risk startups
• “Angel Investor Groups”- Groups of angel investors
• “Business Incubators”- Organizations that provide support and advice but do not invest in the project

STEP 3: APPLY FOR PERMANENT RESIDENCE (PR) AND TEMPORARY WORK PERMIT

PR Application: The processing time for PR application is usually 12-16 months on average.

Temporary work permit application

• Applicants can apply for a temporary work permit while waiting for their PR application to be processed. The work permit is valid for one year.
• Spouses and children can accompany the applicant to Canada, provided they apply for a work permit or study permit.
• This step is not mandatory, and applicants can choose to wait for their PR application to be approved in Vietnam before starting their business in Canada

STEP 4: ARRIVING IN CANADA (AFTER RECEIVING PERMANENT RESIDENCE)

Upon arrival in Canada, the applicant must have:

• A valid passport
• A visa for permanent residence in Canada and a Confirmation of Permanent Residence (COPR)
• Proof of financial support
• Customs officers may ask the applicant a few questions to ensure they still meet the requirements for Canadian permanent residency. These questions will be similar to those answered during the application process.

STEP 5: ESTABLISHING A BUSINESS IN CANADA

• Applicants carry out business activities as planned.
• Manage business operations in Canada.
• Establish and start business activities in Canada.

STEP 6: BECOMING A CANADA CITIZEN

After becoming a permanent resident of Canada and living in Canada for 1095 days, you can apply for Canadian citizenship. To become a Canadian citizen, you must meet the following requirements:

• Have lived in Canada for 1095 days in the past 5 years
• Have filed your income tax returns for the past 3 years
• Pass a basic test on your rights, responsibilities, and knowledge of Canada
• Demonstrate basic language skills