Starting a business in Canada is getting easier as the Canadian government encourages new businesses to pick Canada for their base of operations. This program is designed to boost Canada’s economy by attracting innovative entrepreneurs and enabling them to establish themselves in Canada.
This is a unique program – the first of its kind anywhere in the world – it creates a connection between entrepreneurs and private sector organizations which specialize in assisting startups become established.
Why start a business in Canada?
- Booming economy
- Low taxes as well as low business costs
- Cutting-edge innovations and top level research.
- Quality of life among the highest in the world
This program fast-tracks candidates on their way to the Canadian citizenship. The Visa process takes only 2 weeks and an approved candidate ultimately receives Permanent Resident status – a status which can lead up to a full citizenship.
This program is great for candidates who failed to get a resident status in the US.
How is this program different?
Unlike other immigration programs, this program mandates the support of a venture capital fund or a designated angel investor group. Your supporting firm or investor will have to be designated by the Canadian government as qualified to participate in the Start-up visa program.
Your first step should be to enlist a designated venture capital fund or an investor to back your cause and deem it worthy of sponsorship.
Some firms will demand a fully developed business plan prior to deciding if they agree to back your application.
Determine your eligibility
What will you need to be eligible?
- As previously mentioned – you will require the support of a designated venture capital fund or angel investor. You will need to produce a letter detailing information about the supporting organization and include an indication of the organization’s commitment to the funding of your business. This commitment must include a minimum of 200,000 CAD from a venture capital fund, or a minimum of 75,000 CAD from an angel investor group.
- You will need a sufficient English/French exam score in order to communicate on a professional level as well as operate a business.
- You will need to produce your education certificates, diplomas, transcripts and degrees in order to verify your level of education and meet the education requirements of the program. The minimal level is at least 1 year of post-secondary education.
- You will need to prove you have a sufficient budget for you and your family to settle in Canada.