If you are an entrepreneur or you’ve got the entrepreneur’s spirit and you are looking to start a business in Canada, you could be making the right decision.
Canada is known to be one of the best countries to migrate to and the country is filled with a lot of opportunities, even for job seekers. It is also often believed that Canada is one of the top 10 countries to easily start a business, as long as you know the right things to do.
I am sure by now, you are very much aware that Canada is rich in natural resources with an immensely skilled labour force, even more, a stable government. Therefore, If you’d like to migrate to Canada to start a business, we’d like to introduce you to the Canada Investment VISA program.
The Canada Investment Visa isn’t the only means for you to possibly migrate to Canada for business purpose. There’s the start-up visa program which technically is same as the investor visa program, entrepreneur program, self employed persons program, and the business provincial Nominee program (PNP).
Let’s talk a little more about these. Shall we?
Canada Start-up VISA Program
The start-up Visa program is designed for Candidates seeking to obtain “investor” VISA to immigrate to Canada by starting a business anywhere in the country.
However, for you and your business to be eligible for this, there are a few requirements to be met. Basically, your business needs to be innovative, create jobs for Canadians and should be able to compete internationally.
Start-up VISA Program Requirements
To quality for the general investor Program, applicants must:
- Hold at least 10% of the voting rights attached to all outstanding shares of the business. Up to 5 people can apply as owners in this case.
- Score the pass mark in both English and French (CBL5).
- Secure a minimum investment of $200,000 from a designated venture venture capital fund. $75,000 if the investment is from a designated Canadian angel investor group, and need to be accepted into a Canadian business incubator program.
- Have enough money to prove that you can settle and take care of yourself and your family in Canada.
Entrepreneurs are usually encouraged to partake in the entrepreneur program because Canada creates employment opportunities and thus, tend to contribute to the Canadian economy. Successful applicants can open businesses in Camada and also gain permanent Residence in Canada. Of course, there are requirements to be met.
To quality, applicants must:
- Have established or purchase substantial investment in a business in Canada within 2 years of being in Canada. This business should have made a significant contribution to the economy.
- Employ at least one Canadian citizen or permanent resident. This should exclude other entrepreneurs or/and dependents.
- Be actively engaged in the management of the business.
Self-Employed Persons Program
This program is for persons who will establish or purchase a business that will make a significant contribution to the economy. Eligibility is also required in this case.
- Have at least 2 years experience in the last 5 years of managing the business
- Meet medical, security and other conditions
- Be willing and be able to be self employed
- Meet the minimum 35 points selection criteria. Selection criteria is based on adaptability, education, experience, age and language abilities.
Business Provincial Nominee Program
This program has to do with provinces and territories in Canada having the power to invite applicants to live within their borders if they have the right skills and work experience. The requirement in this case could vary from provinces to provinces, territories to territories.
Back to why you are here. Let’s answer a few questions and answers (QnAs) regarding Canada investment visa.
Can I Invest My Own Money To Apply Through Start-Up VISA Program?
No. This program doesn’t require that you invest your own money. As a matter of fact, the minimum investment required is one that comes from designated Canadian venture capital fund and Angel investor group.
Canada.ca has a list of designated organisations, Angel investor group and business incubators that you are to get support from before being eligible to apply for the start up investor VISA.
Hope this answers your concerns regarding the investment visa, start up visa program and how to get started?