Intention to start a business on one’s ideas is very tantalizing. However, there might be many reasons why the business cannot be started in one’s own country. One of the reasons could be that the business idea itself is not local and needs global attention and hence, the need to start the business in a new country. For all it matters and more, Canada has come up with a program to satisfy this requirement of having to start a business in a new country through their Canada Start-up Visa program.
Canada Start-up Visa program is designed for all those independent thinkers who intend to make their mark in the international market. One of the main requirements to qualify for this program is that the applicant has a solid business idea which is scalable and viable in nature. This program was started in the year 2013 and since has invited numerous qualified immigrants into the country who have been able to successfully start their business and run it. This program can be applied in a group, with the group being limited to 5. Each of them will be applying independent of each other, although they might be belonging to the same corporation.
To be eligible for this program you need to obtain a letter of Support from designated organizations. These organizations fall under three categories, each of which helps varying degrees of institutions and organizations.
This program doesn’t demand too much of monetary contribution from the applicant’s side. It is way different from the other Canada Business Immigration programs.
The designated Angel Investor groups are those who will help those business ideas which would need a minimum of CAD $75000 as investment while designated venture capital funds group support those business ideas which would need a minimum investment of CAD $200,000. The third type of organization is labeled designated business incubators who are more into incubating business entrepreneurs into the Canada business field. Depending on the type of business idea one has, they will need to approach these organizations, convince them and get a letter of support from them.
The applicant for this program, need not worry about the investment part. However, his business idea should bring in the required returns and generate enough jobs for the locals. Canada provides Permanent residency to all the qualified applicants through this program. Foreign individuals who intend to relocate to Canada in search of better prospects can do so through their many immigration pathways for skilled professionals. One of which is the Provincial Nominee program which was created to help provinces choose the right immigrant to fit into the province.
Canada is a rich country and has all possible infrastructures to support a business. This is one of the major reasons why Canada draws a lot of attention from entrepreneurs intending to start a business in Canada.
Canada’s economy is both strong and stable. Many cities are well-built and provide top notch conditions and market access for one to build business there. Toronto is one of the top business hubs in the world and is also the economy capital of Canada.
The living conditions in Canada are one of the best. It comes as no surprise that the country has been chosen for providing the best living experience in the world. It is one of the best places for children to grow up as it is safe, secure and also provides free primary education to children. The country’s health insurance is something to rave about. Canada promotes clean air and clean living.
Canada has been able to combat Covid-19 pandemic by balancing a lot of factors which include sanitized usage of public properties, balanced recovery of economy and job market among others.
All said and done, it is however, important to approach this program through the right immigration firm which is both experienced and knowledgeable in the field along with having the right team supporting the cause. It is imperative that the individual works with an immigration firm which is registered with the ICCRC.