How can an Entrepreneur immigrate to Canada?
Experienced business professionals can immigrate to Canada with the aim of starting or managing a business in the country. For this, the start-up visa is the best option that provides the fast track option for Canada Immigration. Also, there are funding and guidance provisions are available for the applicant.
For a businessman who is planning to move to Canada, it is not a far-fetched idea anymore with the option of an entrepreneur visa. This page will update you with the adequate information and all that is there to know concerning the entrepreneur visa for Canada.
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Key Highlights –
- The reasons why Canada is a lucrative option for entrepreneurs
- What is an Entrepreneur Visa program?
- How to qualify under the Start- up Visa program for the entrepreneur entry in Canada?
- Investment details for the Start- up Visa program for the entrepreneur entry
- What are the processing cost and timeline for the Start-up Visa program in Canada?
Canada is very good for entrepreneurs. Modern society, in every term there cannot be a better country for a business professional. It is safe and legally upright where the rights of minorities are as valuable as the rights of an elite. There are efficient operations stable government and well-educated people who support innovation and research. Thus there is a lot of support for entrepreneurs who are looking for Canada Immigration. Further, the tax benefits act as the cherry on the cake but let us look at the advantages of being an entrepreneur in Canada in detail to help you solidify your immigration decision –
The reasons why Canada is a lucrative option for entrepreneurs
The reasons why Canada is a lucrative option for entrepreneurs are as follows:
- Robust Economy– Canada can be rated as one of the best countries for business as per Forbes magazine it is the best country in G 20 with a good financial standing. Further, It has the most influential fiscal position in G 7. Thus, it will be treacherous not to invest in a booming economy like Canada.
- Low tax rates and Low business cost– Canada provides the opportunity for businesses to thrive with low price and low tax environment rates. The overall tax rate is lower than in another G 7 countries. Canada can truly be rated as the most tax competitive country in the world.
- Emphasis on innovation and research– Canada offers world-leading research and development centers and provides incentives for innovative performance. With high-end infrastructure facilities available, there is a lot of emphasis on new developments and research.
- High Standard of living– Against the backdrop of a successful enterprise, there are benefits of living in Canada. As per the World Bank, in 2011, Canada has the highest standard of living in G 20 and is home to one of the most flexible, educated, and multicultural societies in the world.
What is an Entrepreneur Visa program?
The candidate who have experience of business, and they plan to own or manage a Canadian business activity is the candidate for the entrepreneur category for Canada immigration. These candidates can establish a successful business in Canada and make a positive contribution to the economy of Canada and also help in creating employment. It is a start-up visa program where entrepreneurs who qualify will have fast track processing of their application. Here, the candidates can enter Canada within weeks.
There is a personal net worth requirement among others that need to fulfill for the Entrepreneur Visa program. For the business people, there are three prime categories of Immigration to Canada – Business visa, Entrepreneur visa, Investor visa. The entrepreneur visa is the most suited and easy one for most of the applicants. In this program, you need to remember that you will not be allowed to work in Canada, and you cannot seek employment as well. Instead, you should initiate a business activity and contribute to the business environment as an entrepreneur visa holder. Also, the candidates need to remember that the vis granted under this program is a conditional visa, and there are requirements that need to be fulfilled after landing. These requirements can span for a period of three years as well.
How to qualify under the Start- up Visa program for the entrepreneur entry in Canada?
The Startup visa allows the applicant with the right to establish themselves in Canada. The program aims to encourage the applicants to grow business in Canada and make the private sector of Canada profitable. For this, they receive guidance and funding from the government as well.
However, it is mandatory that the eligibility requirements need to be met to get the start-up visa for Canada. The point of these requirements is to ensure that only eligible and capable candidates can relocate and help create new jobs in the country and further economic growth.
The eligibility requirements are –
- Language is a per-requisite in Canada. Thus the applicant should meet the minimum required score in either English or French language which is CLB 5
- Without funds you cannot start a business thus having sufficient funds is essential
- The eligibility rules do not apply to the province of Quebec. Quebec has its criterion
- The applicant should pass the medical test and also the police verification
- proof that a designated organization is supporting your business
- all the ownership requirements of a new business should be met.
- Not more than five people can apply for permanent residency for the same business venture.
Investment details for the the Start- up Visa program for the entrepreneur entry
Canada’s government wants capable people to start a business in Canada to drive economic growth. Thus, the Immigration Refugees and Citizenship Canada (IRCC) has designated a lot of Venture capital funds, Angel investor groups, and business incubators to help the people immigrate through the Start-Up Visa program.
The applicants are asked to procure a minimum investment amount for their Canada Start-up. For this, if they have taken the help of a designated venture capital fund, then the minimum requirement for the investment is $200,000. However, if the investment is from the angel investor group, then the amount changes to $75,000 minimum. For the Start-up visa program, the applicants need not invest their own money. The best aspect of the Start-up visa program for Canada is that the candidate who has acquired permanent residency through the Start-up visa program and his start-up was unsuccessful then also he will retain his PR status.
Venture capital funds
- BDC Venture Capital
- Blackberry Partners Fund II LP (doing business as Relay Ventures Fund II)
- Celtic House Venture Partners
- Celtic House Venture Partners Fund III LP
- Celtic House Venture Partners Fund IV LP
- DRI Capital, Inc.
- Extreme Venture Partners LLP
- Golden Opportunities Fund Inc.
- iNovia Capital, Inc.
- Lumira Capital
- Mobio Technologies Inc.
- New Brunswick Innovation Foundation Inc.
- Oak Mason Investments Inc.
- OMERS Ventures Management Inc.
- Pangaea Ventures Fund III, LP
- PRIVEQ Capital Funds
- PRIVEQ III Limited Partnership
- PRIVEQ IV Limited Partnership
- Quorum Group
- Advantage Growth (No.2) LP
- Ontario SME Capital Corporation
- Quorum Investment Pool Limited Partnership
- Quorum Secured Equity Trust
- Real Ventures
- Rho Canada Ventures
- Rogers Venture Partners, LLC
- Summerhill Venture Partners Management Inc.
- Tandem Expansion Management Inc.
- Top Renergy Inc.
- Vanedge Capital Limited Partnership
- Version One Ventures
- Wellington Financial LP
- Westcap Mgt. Ltd.
- Canadian Accelerator Fund Ltd.
- Yaletown Venture Partners Inc.
Angel investor groups
- Angel One Network Inc.
- Canadian International Angel Investors
- First Angel Network Association
- Golden Triangle Angel Network
- Oak Mason Investments Inc.
- Southwestern Ontario Angel Group
- TenX Angel Investors Inc.
- VANTEC Angel Network Inc.
Business Incubators
- Canada Accelerator Co (d/b/a HIGHLINE)
- Communitech
- Empowered Startups Ltd.
- Extreme Innovations
- INcubes Inc.
- Innovacorp
- Innovate Calgary
- Interactive Niagara Media Cluster o/a Innovate Niagara
- Knowledge Park o/a Planet Hatch
- LaunchPad PEI Inc.
- Real Investment Fund III L.P. o/a FounderFuel
- Ryerson Futures Inc.
- Toronto Business Development Centre
- Waterloo Accelerator Centre
What are the processing cost and timeline for the Start-up Visa program in Canada?
The fee for filing the application for the Start-up Visa Program is CAD $1050 for the primary candidate. For the secondary candidates, the fee of CAD $550 needs to be given along with CAD $150 per dependent child. Apart from this, there is also a CAD $490 right of permanent residence fee to be given for each individual.
Ideally, if everything is good with the application, then the processing of the application should take 12 to 16 months. Rest a lot depends on the credentials of the applicants and also the nature of the start-up idea submitted for approval.
Why should you seek the assistance of Abroad Pathway?
Abroad Pathway has experts who are knowledgeable and experienced with the commitment and dedication that they have shown we have been able to help thousands of applicants immigrate to Canada on a start-up visa without any trouble. There are also many other pathways for relocation, and Abroad Pathway will help you select the pathway as per your requirements. For details contact us at +91-9899146637
