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Understanding Canada’s Start Up Visa for Immigrants

Investing is a tricky ride. There are countless things to consider, especially if it involves a huge amount or a large number of employees. More often than not, it takes a risk, careful planning, and long-term vision. It is essential to put your investment in the right places, mainly because if you’ll place it on something that isn’t thoroughly planned out, it might go to waste.

Some share that investing in other countries is also ideal. In one of the articles, it was mentioned that Canada is one of the best places to put your investments in. They are the number one country in the world with the best quality of life. They also offer a start-up Visa which can be put into good use and can help your business to thrive.

Considering Canada’s Start Up Visa

Canada, as a country, continuously thrive. With a stable government system and a thriving economy, it is a dream country for most. They also have a secure banking system and a clean environment. Toronto, the country’s largest city, is tagged as one of the top five tech talent markets. With their thriving economy, they’ve planned to increase the number of immigrants including entrepreneurs. Once you’re eligible, you can stock up on investments and prepare the necessary documents to move in.

It was mentioned that they’ve set-up new federal immigration policies which include a permanent resident program and the like. With the policy in place, it managed to attract investors, entrepreneurs, and citizens from other countries. Without a net worth requirement, you’d be allowed to stay anywhere in the country. One of the requirements is to have a minimum of 5 for IELTS, and being able to speak French is also a plus. Settlement funds are also required, so it is something that you would need to prepare for.

How Does it Work?

Now that you’ve understood Canada’s set-up for entrepreneur immigrants, it is best to get a closer look at how it works before getting a loan to embark on a new journey. There are several options for you to consider. Firstly, it is to be accepted in their business incubation program. Look for one that would best fit your plans. This is one of the most popular options for most investors. It requires applicants to spend ample time in Canada working with a group. It will take around four or even six months to develop.

They also have another option. It is for you to get a government-designated individual to throw in their investments towards your project. It is an easy route, but it can take around $60,000 USD. And lastly, ask for the government’s support in a specific venture capital fund group. It will take around $150,000 USD for them to invest in your project.

Conclusion

If you’d be able to accomplish the needed requirements, you will then be given a commitment certificate of a letter of support from the group that will be sponsoring your access to Canada. It usually takes about a year and a half to process the papers for permanent residency. Once you’re all good, your spouse, and even your children can join you in the near future. You and your family will then be able to enjoy the benefits, just like current citizens, such as free health care, a work permit for your spouse and education for your children.

Before you’d set on a new journey, make sure that you have a positive credit score. Having sufficient funds is also essential for you to be able to explore new heights.

Photo Credits:

Scott Webb /Unsplash

Alex Shutin/ Unsplash

Michelle Spollen/Unsplash

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