The Canadian Entrepreneur
Immigration program offers individuals an opportunity to immigrate to Canada
through business immigration. Canada is offering new start-up visa that is aiming
at linking entrepreneurs with the private sector organizations that are working
with start-ups.
However, while there are other
immigration business programs, this one targets entrepreneurs. The key
objective is to provide individuals who have some business experience as
entrepreneurs to own and run a business in Canada, which aim at creating
employment for Canadian residents. This is expected to contribute positively
towards the Canadian economy.
While it is seeking to boost the
country’s economy, it stands to benefit the entrepreneurs, as their immediate
families tend to gain citizenship in Canada as permanent resident. This program
will settle you in any province in the country except Quebec.
While this program stands to
benefit many, it comes with terms and conditions that must be met. Not just
every individual in an entrepreneurial business can apply and receive citizenship.
What do you require to apply for
the program?
The following are requirements that
qualify you for the program.
- You must demonstrate your business experience showing that you have been able to successfully manage and run a business.
- Already acquired a minimum of $300,000 CDN net worth (legally acquired).
- You must create full time employment to at least one Canadian citizen.
- Meet the selection factors points including education, work experience, age, as well as proficiency in the country’s official languages.
What is the process for
application?
Applying for the Canadian
entrepreneur immigration program is not a complicated process but it is
recommended that you follow each step as required systematically. Before you
can apply, you should secure a commitment from a venture capital fund or a Canadian
angel investor group who will invest into your business concept. To complete
the application:
- Secure a commitment
- Apply for a Start-up Visa
- Apply for Citizenship and Immigration indicating your intention to immigrate through the program.
- You will also have to indicate and prove your ability to communicate in English and/or French. In addition, you must have one-year study at a post-secondary institution.
- Provide results for your medical exam and a police certificate
How long does the Entrepreneur Visa process take?
The time it will take to complete
your process will differ depending on how long the verification process will
take place.
How much does it cost?
There are different variable that
will determine the cost such as number of family members that will be
travelling in addition to the processing fee. In addition, you will have to demonstrate
your ability to financially sustain yourself as you establish your business.
What do you stand to benefit from the
program?
Pros
- There are no conditions attached to how successful your business can be
- You have the support of a strong economic growth in Canada. It is ranked one of the best countries in the G-20 to do business with.
- Its tax rates are among some of the most competitive in the G-7 countries according to KPMG.
Cons
- It is limiting, as it does not just accept every entrepreneur. You must meet the required selection points in the selection factors.
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