Are you an entrepreneur planning to settle in Canada? If yes, then a Canada Startup visa is all you need to make your dream true. The government of Canada launched the startup visa to attract foreign entrepreneurs worldwide and provide them with the necessary funding to establish their unique business ideas in Canada. In exchange, Canadian banks will support these businesses while adding value to the country’s economy and generating employment opportunities for Canadians.
The applications submitted under the startup visa are generally
processed faster. The majority of eligible applications get approved within
weeks. The startup visa provides permanent residency status to the visa holder,
leading to citizenship.
Eligibility for
Canada Startup visa
Before applying for the startup visa program, a candidate must fulfill
four eligibility requirements. They are:
·
They must have a qualifying business;
·
Obtain a letter of commitment or support from any
designated organization in Canada
·
Have sufficient unencumbered, available, and
transferable settlement funds
·
Demonstrate sufficient proficiency in English or French
language
·
Show that you have enough money to support yourself
and any dependents once you arrive in Canada.
Designated
Organizations for Startup Visa in Canada
To prove your eligibility for a Canada investor visa, you must submit a Commitment
Certificate and a Letter of Support stating that a designated organization in
Canada supports your business idea. The document will cover all relevant
details related to your business and other arrangements with one or multiple
organizations. Unlike federal and investor visa programs, where applicants
invest their own money, the startup visa has no minimum investment
requirements.
Instead, those fulfilling the eligibility must secure at least $75,000 from a Canadian angel investor or a minimum of $200,000 from a Canadian venture capital fund. If your application is accepted into a Canadian business incubator, no investment is needed.
Five applicants can apply for permanent residence under the Canada entrepreneur visa program. However, some candidates may be designated essential to the business. If any crucial applicants withdraw their application or get refusal, all other applicants will also have to face termination.
Benefits of Canada Startup Visa
·
No age limit
·
Live, work, and study in Canada with no limitations.
·
The investor and their family members can move freely
anywhere in Canada.
·
It takes around 12-18 months to get a PR visa in
Canada.
·
Universal healthcare, social benefits, and free
education for children up to a specific age
·
Safe and secure environment
·
Easy access to the USA and other global markets
·
Loans at cheaper interests to support business
operations.
Are you interested in applying? Don’t wait. Visit us for a free evaluation, and let’s together begin your life-long journey to Canada.
