How much should I invest in Canada to get PR?
If you are thinking of getting another passport, Canada deserves your attention. Canada is recognized for being one of the best countries in the world to live, work, and study, and it’s not hard to see why! The country is known for world-class colleges/universities, top-notch healthcare facilities, and a solid and stable economy. Many foreign entrepreneurs choose Canada to expand and ultimately obtain permanent residency status. Canada business visa is a popular choice for foreign investors who wish to become active contributors to the Canadian economy.
Who is a business immigrant?
To put it simply, a business immigrant moves to Canada through investment either in one or more than one business. Business investors help fuel the Canadian economy because most investors come from sound financial backgrounds and get monetary support from their investors in the home country. Business investors are of two types: Startup owners and self-employed.
Why choose Canada as a business location?
- Canada boasts a strong, stable, and consistent banking system
- Many Canadian provinces have relatively low taxes for business investors.
- Get permanent residency in Canada after establishing your business successfully.
- Business operating cost is also relatively low in many provinces.
- You can include your family members in the application
- Canada has an excellent quality of life.
- One of the easiest ways to acquire citizenship in Canada
Canada Startup visa– If you are an entrepreneur with an innovative and competitive business idea in mind, a Canada startup visa is the right option for you. Under this program, the government of Canada invites talented foreign entrepreneurs planning to start a business in Canada while boosting the country’s economy and generating employment for its citizens/residents.
To qualify, an applicant must prove that their business is innovative, create new jobs for Canadians, and compete globally. There is no minimum investment required to apply for the Canadian startup visa. However, you need a unique and scalable idea to garner investments from venture capitals and incubators in Canada.
What are the basic requirements for the Canada startup visa program?
There are four basic requirements that business applicants must fulfill to be eligible for the visa:
- Have a qualifying business
- You must hold at least 10% of the ownership in the company
- With the designated organization, you must hold at least 50% of the company’s ownership.
- Have a letter of support from a designated organization in Canada
- You must submit a letter of support from a venture capital fund, angel investor group, or business incubator
- To get the letter, you must pitch your business idea and convince the organization that it is unique and worth supporting
- Each organization follows a standard procedure for evaluating a business idea
- If the organization finds your idea unique, they will issue you a letter of support, which you must attach to your visa application
- Meet the language requirements
- Show that you meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French.
- Have sufficient financial funds
- You need to demonstrate that you have enough funds to manage your initial expenses in Canada.
Canada self-employed persons program– The pathway allows foreign nationals to settle in Canada as self-employed persons permanently. If you are interested, you must:
- have relevant experience in cultural activities or athletics and
- be willing and able to make a significant contribution to the cultural or athletic life of Canada
If you have an experience that will impact Canada’s cultural or athletic society, then this program is the right option for you.
Quebec Immigrant Investor Program
Quebec holds an extraordinary place in Canada for many reasons. One of those is Quebec immigrant investor program. What makes this program so popular? The reason is simple- the French province lets foreign investors move to Canada based on their net worth. In simple words, if you have plenty of money and some business experience, you have excellent chances to qualify for this program and settle in Canada with your family.
Who is eligible?
You may qualify under Quebec’s immigrant investor program if you:
- Have legally acquired CAD 1.6 million for yourself
- Have at least three years of business experience or worked in a senior manager position in the last five years
- Have at least CAD 800,000 to invest in a business in Quebec
- Genuine intentions and commitment to live in Quebec