Newsonline reports that the Canada start-up visa program is a special immigration program set up by the government to encourage investors, entrepreneurs and venture capital groups to migrate to Canada for the purpose of doing business.
Migrating to Canada as not been more easier than it is now, with a wide array of opportunities provided by the Canadian government for foreign nationals who might want to move to Canada for one reason or the other.
Canada as a destination of choice and ranked high as one of the best countries in the world with a premium living condition is opened to all nationalities with the right skill set, qualification and experience to come and explore the economy, community, culture, lifestyle and privileges Canada is got to offer. Canada as a country is keen on bringing the right kind of people who are able to add or contribute to the growing economy and improve the lifestyle that is already established.
It is with this vision in mind that the business category of visas was created, this is to encourage already established businesses seeking expansion into the Canadian economy easy access as long as they are able to meet the stipulated requirements, it also provides an avenue for business start – ups to gain access into a thriving economy where their business ideas, innovations and small enterprises can fly with ease.
Canada provides all the necessary optimum environment which is able to make your business succeed; vis – a – vis; a stable government with sound economic policies, assistance from business incubators, venture capitalists and angel investors who are designated by government to assist qualified start – ups who meet their required criteria, a business friendly environment, a community of like minded business oriented professionals and enthusiasts. One of such business visa is the start -up visa.
The startup visa program is one of Canada’s primary business immigration pathways created to encourage business persons, entrepreneurs and innovators entry into Canada. This program is meant to boost the local economy in the area where such businesses will be located and to provide employment opportunities to the Canadian labor market.
The start-up visa program gives you the opportunity to migrate to Canada by starting and owing a business in any part of Canada, on qualifying and obtaining the startup visa, the entrepreneur is granted a permanent residence permit.
The program connects entrepreneurs and startups with designated private business investor organizations such as; angels investors, business incubators and venture capitalists whose support enables the startup to kick off smoothly financial wise.
Canada startup visa program focuses on immigrants and foreign nationals who are skilled entrepreneurs and are able to build businesses that will contribute significantly to the Canadian economy. The program focuses on innovation, job creation, and global competitiveness.
If you have innovative ideas and / or a good business startup you can get support from any of these designated investor organizations and fulfill your dreams to move to Canada.
You must get at least one of these groups to agree to invest a minimum of $200,000:
You must get one or more investors connected to these groups to agree to invest a minimum of $75,000:
You must be accepted into one of these programs:
Canada startup visa requirements is segmented into three parts, these are; business requirements, personal requirements and financial requirements. Once any of the designated sponsoring organizations has accepted to work with you, prior to this, you must also meet the eligibility standard. The eligibility requirements are:
| NUMBER OF FAMILY MEMBERS | FUNDS REQUIRED (IN CANADIAN DOLLARS) |
|---|---|
| 1 | $12,960 |
| 2 | $16,135 |
| 3 | $19,836 |
| 4 | $24,083 |
| 5 | $27,315 |
| 6 | $30,806 |
| 7 | $34,299 |
| Each additional family member | $3,492 |
To be eligible to apply and receive the startup Visa, you must be able to show proof that you are capable of financially handle your living expenses and those of any number of dependents that may be accompanying you. the list above shows the amount of funds that is required of you to make this happen as the Canadian government those not offer financial assistance to settling immigrants.
Inclusive in the process is the capturing and filing of biometrics. you must pay for the biometric before you submit your application, otherwise you may experience delays in your processing. The biometric fees covers the cost of collecting your fingerprints and digital photo capture.
Third party fees may also come as part of your requirements depending on certain occasions; these are
To ensure your application is complete and all in order, you must;
Should all these necessary steps not be met; your application will be returned back to you. all errors must be fixed, then you can resubmit.
For any further queries or instructions on how to apply and the steps to follows, visit CIC start-up visa website:
The current processing time for the start up visa is between 12 and 16 months and the processing fees is $2, 075
Entrepreneurs and applicants who already have secured a commitment certificate from a designated investor and who wish to start working before their permanent residence is approved can apply for a temporary work permit with their commitment certificate from the supporting investor organization. To receive a work permit, the entrepreneur or business owner must provide a letter of support from the designated investor and provide evidence of financial sufficiency that he or she is able to meet the needs of the family at least for one year.
To receive a permanent residency however, the following criteria must be met:
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