Are you planning to immigrate to Canada to start a business as an entrepreneur? Canada’s start-up visa program is the way to do it. The start-up visa program targets dynamic entrepreneurs around the world to immigrate to Canada.
The entrepreneur has to be innovative and must have the potential to build a business in Canada. The Canadian government will support them (including funding) to develop their business. So they can compete on a global scale and create jobs for Canadians.
Read to know about start up Visa
How The Start-Up Visa Program Works?
At first, you need support from Canadian venture capital funds, business incubators, and Angel Investor groups to invest in your business. The Canadian government must designate the investor.
To immigrate to Canada through the start-up visa program, you need to convince one of those designated groups or funds. Make them understand that your business idea is worth investing in.
Once you get the letter of support, you are ready to apply for the start-up visa. Before that, make sure you meet the other requirements.
Eligibility for Start-Up Visa Program
To be eligible for this program, you must;
- Have a qualifying business
- Get a letter from a designated organization in Canada
- Meet the language requirements
- Have sufficient money to settle
What Does Qualifying Business Means?
Qualifying business means your business meets the following conditions;
- When you get a commitment from any designated organization,
- Up to five people can be the owner of a business. Each applicant holds 10% or more voting rights to all shares.
- The designated organization and applicant holds more than 50% voting rights in the business.
- When you receive permanent residence,
- You have active and ongoing management of the business in Canada
- A crucial part of operation happens in Canada
- Your business is incorporated in Canada
How to Apply?
Once you meet all the requirements, get the application package from the IRCC website. Check the instruction guide and document checklist. Then follow these steps;
Step 1: Fill Out Application Form
There is Generic Application for Canada available on the IRCC website. Fill out the form carefully and click the “Validate” button on the form. Then print the form and sign it where needed.
Step 2: Gather Documents
Gather all the documents according to the document checklist. Put the identification and supporting documents in a sealed envelope.
Step 3: Pay Your Fees
Now pay the processing fee for you and anyone you have included. Also, the right of permanent residence, biometrics, and third-party payments.
Step 4: Submit Your Application
Once you have filled the form, attach the documents and pay the fees, then you can submit your application. Make sure to check them once more. The visa officer will ask for fingerprints and photos anytime in between.
The economy of Canada is one of the strongest in the World. Canada is the 10th largest GDP by nominal and 16th largest GDP by PPP in the world. It