Canada Start Up Visa
(Residency By Investment)
Canada Start-Up Visa - Residency by Investment
If you are an individual or a group with an innovative business idea, you may be qualified for a Canada Start-Up Visa. It remains a priority for Canada to welcome entrepreneurs with creative ideas and to assist them with setting up long-term residences.
The Canada Start-Up Visa is a Permanent Residency Program that allows an individual or a group of up to five people to live permanently in Canada and create a planned innovative enterprise.
The Canadian Permanent Residency Visa is valid for five years. In those five years, a candidate must either spend 1095 days in Canada to apply for a Canadian passport or spend at least 730 days in Canada to renew their Permanent Residency. These days can be spent in segments for five years.
A Few Of The Benefits Of Canadian PR Are:
- Family Education and Health Care Benefits
- Benefits of Retirement
- Excellent living conditions and one of the top infrastructures
- Potential for Business Expansion
- Citizenship in three years (among the top five passports in the world*)
The flow of the Process:
- Eligibility Verification
- Registration with the appropriate organization and preparation of documentation
- Requesting a Letter of Support (LOS)
- Application for PR (After LOS)
- Arriving in Canada and establishing a business (After PR or before on Work Permit
Canada’s Start-up Visa Program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that:
- Are innovative
- Can create jobs for Canadians
- Can compete on a global scale
It depends on which designated organization is accepting your application and whether or not they will be investing in your business. However, the usual range can be from CAD 100,000 – CAD 200,000.
An Individual/Group with minimum age of 22 and having an innovative idea.
The first step to apply for Canada Start Up Visa is to assess the eligibility and approaching the right organization/incubators/venture capitals for the same.
Yes, it requires a basic IELTS of CLB 5 to make sure that you are able to communicate (at least basic) in order to successfully establish your business.
For Start Up Visa, a candidate has to contact business consultants in Dubai to apply for Letter of Support from one of the following designated organizations. These are authorized bodies which assesses a business idea.
- Venture Capital
- Angel Investors
- Business Incubators