Despite covid-19, the popularity of Startup Visa Canada is not falling down an inch. Many foreign talents and business people believe that the startup visa is the best pathway to attain a quick Canada Permanent Residency. For more business expansion, small and medium-sized businesses in Canada are looking to spend more on technology. It is speculated that the technology sector in Canada to witness a drastic boom in the coming years. The startup ecosystems in Canada, such as Toronto, Vancouver, Montreal, and Calgary, see a surge in foreign direct investment and business talents opportunities.
Some facts about the Canada Startup Visa
- The startup visa commenced as a three-year pilot program, but soon it became an integral part of Canada’s immigration system in March 2018.
- Every year the approval rate for the program and permanent resident admissions have gone up.
- Last year, the Start-up visa program approved 510 applications which was more than doubled from the previous year’s 250 approval.
- Canada has seen a stable rise in the number of new permanent residents via the Startup Program, and in the future, it will cross many Canada Business Visa
- Around 40% of Canada’s SMEs aims to invest in the technology sector in 2021
- The technology sector has anticipated growth by 2.2% in 2021.
Measures taken by Canadian Government
- The Canadian Government has propelled a widespread distribution of Covid-19 vaccines to protect Canadians against outbreaks and support the economy.
- The Business Development Bank of Canada is forecasting GDP growth of 4.5 percent for Canada in 2021.
- PM Justin Trudeau’s Government’s policies, Covid action plans, and economic packages helped the people and their businesses during the pandemic.
- Those programs helped to rebound the economy, recoup the lost jobs early in the pandemic, and empowered the people to survive the worst global pandemic and economic debacle.
Startup Visa Canada in a nutshell
The Canadian Government is focusing more on the Business Visa pathways rather than skilled immigration. The administration believes the Foreign Investments and Foreign Talents will help the Canadian economy to flourish. With the startup visa Canada, the applicants can migrate to Canada with their families permanently. The program requires the applicant to have a solid unique business idea to establish a successful business in Canada that will generate employment and contribute to the economy. There is no direct investment requirement and no minimum net-worth obligation. For the English language, the applicant needs a minimum of 5 CLB and minimum academic higher secondary education. There is no business experience requirement; therefore, a Skilled Professional can also apply for the program.
After you develop a business idea, you need to acquire letter of support and investment from any one of the below three investment bodies in Canada:
- Venture capital fund – Acquire CAD 75,000
- Angel investor – Acquire CAD 75,000
- Business incubator – Acquire Letter of Support only
If you wish to set up a business in Canada and enjoy permanent residency, you can opt for free counseling and guidance on Canada Startup Visa. For more details, reach us @ 8595338595 or on [email protected].