Are you an entrepreneur planning to settle in Canada? If yes, then a Canada Startup visa is all you need to make your dream true. The government of Canada launched the startup visa to attract foreign entrepreneurs worldwide and provide them with the necessary funding to establish their unique business ideas in Canada. In exchange, Canadian banks will support these businesses while adding value to the country’s economy and generating employment opportunities for Canadians.
The applications submitted under the startup visa are generally processed faster. The majority of eligible applications get approved within weeks. The startup visa provides permanent residency status to the visa holder, leading to citizenship.
Eligibility for Canada Startup visa
Before applying for the startup visa program, a candidate must fulfill four eligibility requirements. They are:
- They must have a qualifying business;
- Obtain a letter of commitment or support from any designated organization in Canada
- Have sufficient unencumbered, available, and transferable settlement funds
- Demonstrate sufficient proficiency in English or French language
- Show that you have enough money to support yourself and any dependents once you arrive in Canada.
Designated Organizations for Startup Visa in Canada
To prove your eligibility for a Canada investor visa, you must submit a Commitment Certificate and a Letter of Support stating that a designated organization in Canada supports your business idea. The document will cover all relevant details related to your business and other arrangements with one or multiple organizations. Unlike federal and investor visa programs, where applicants invest their own money, the startup visa has no minimum investment requirements.
Instead, those fulfilling the eligibility must secure at least $75,000 from a Canadian angel investor or a minimum of $200,000 from a Canadian venture capital fund. If your application is accepted into a Canadian business incubator, no investment is needed.
Five applicants can apply for permanent residence under the Canada entrepreneur visa program. However, some candidates may be designated essential to the business. If any crucial applicants withdraw their application or get a refusal, all other applicants will also have to face termination.
Benefits of Canada Startup Visa
- No age limit
- Live, work, and study in Canada with no limitations.
- The investor and their family members can move freely anywhere in Canada.
- It takes around 12-18 months to get a PR visa in Canada.
- Universal healthcare, social benefits, and free education for children up to a specific age
- Safe and secure environment
- Easy access to the USA and other global markets
- Loans at cheaper interests to support business operations.
Are you interested in applying? Don’t wait. Visit us for a free evaluation, and let’s together begin your life-long journey to Canada. You can call us at 8595338595 or [email protected]. To know more about Immigration visit www.abhinav.com.