If you are an entrepreneur interested in immigrating to Canada and building a successful company we can help you. Canada’s new Start-up Visa pilot program is allowing a limited number of applicants the opportunity to immigrate much faster than normal.
This is a Canadian government program designed to attract entrepreneurs to Canada. Under the program eligible entrepreneurs can expedite their visa application process. Although there is no guarantee of obtaining permanent residency status the program is designed to allow eligible entrepreneurs to achieve permanent residency in less than one year. The fact that this program offers the opportunity for permanent residency makes it significantly more attractive than the American H1B visa which only provides a temporary visa. The permanent residency status that is obtained under this program is not conditional on the business venture being successful.
There are many reasons why Canada is the best place to build your business:
- Strong economic growth: Forbes magazine rates Canada as the best country in the G-20 with which to do business. Canada has the strongest fiscal position in the G-7 and among the best fiscal prospects in the G-20.
- Low taxes and low business costs: Canada offers a low-cost and low-tax environment so your business can thrive. Canada’s overall tax rate on new business investment is significantly lower than that of other G-7 countries.KPMG ranks Canada as the most tax competitive country in the G-7.
- Excellence in research and innovation: Canada offers a winning environment for research and innovation, including world-leading research and development infrastructure, scientific talent and innovation incentives. Combined federal and provincial credits can return to foreign investors, on average, up to 30 percent of their R & D investment in Canada.
- Top quality of life: Canada’s top quality of life provides a great backdrop for the success of individuals, families and globally engaged companies. According to the World Bank, in 2011 Canadians enjoyed nearly the highest standard of living in the G-20. Canada is home to a highly educated, flexible and multicultural work force.
To qualify the applicant needs to secure a minimum co-investment of $200,000 from a designated Canadian venture capital fund. Citizenship and Immigration Canada will decide whether or not permanent residency is granted based on standard procedures .This new initiative has been designed to expedite the process and encourage entrepreneurs to immigrate to Canada. Eligibility Requirements In order to be eligible for the Start-up Visa program a foreign entrepreneur needs to be able to meet the following requirements:
• Prove their business idea is supported by a designated investor organization by securing a minimum investment of $200,000 from a designated Canadian venture capital fund.
• Meet the language requirements – Fluent in English or French at Canadian Language Benchmark 5 level for listening, reading, writing and speaking.
• Meet the Education requirements – Minimum of one year of post-secondary education
• Have sufficient settlement funds – Must show you have sufficient funds to support yourself and your dependents. Currently $11,115 minimum for one person, $13,837 for two people and increasing as the number of dependents increases.