The Canadian government has always welcomed those who will be a great asset to Canada as investors and entrepreneurs. There are a few Canada investor immigration options available for these individuals through business immigration!
Canada is on the lookout for newcomers who have the entrepreneurial experience, the talent, and the innovation to start, manage, or buy a business in the country. With new foreign investments, Canada can ensure the continued success of its economy through diversification and development. Let’s take a close look at the several Entrepreneur and Investor Visa options available for those who want to immigrate to Canada.
There are four major requirements that entrepreneurial applicants must meet in order to apply for a start-up visa.
To be considered a qualifying business, entrepreneur applicants must have created a business in which each applicant for immigration holds at least 10 percent of the voting rights attached to all shares of the corporation. Up to five newcomers can apply together as owners. As well, the applicants and the designated organization must jointly hold more than 50 percent of the total voting rights.
In order to secure permanent residence through the Start-up Visa Program, applicants must ensure that the business becomes incorporated within Canada with essential activities taking place in Canada through the active management of the foreign entrepreneurs.
Before applying to the Start-up Visa Program, foreign entrepreneurs must secure the commitment of a designated organization that will support the business’ development in Canada.
All applicants for the Start-up Visa Program must demonstrate proficiency in one of Canada’s official languages, either English or French.
To qualify for the program, candidates must show results from an approved language test demonstrating ability at Canadian Language Benchmark (CLB) Level 5 or higher. The test results must be less than two years old at the time of application.
Canadian immigration authorities currently accept English test results from the following test providers:
Test results from either of these two French tests may also be submitted:
Interested applicants must show that they have enough money to support settlement in Canada for themselves and their family members. To do this, applicants have to show that they meet IRCC’s proof of means of financial support
If a foreign entrepreneur meets the eligibility requirements for the Start-up Visa Program, they must prepare and submit an application either online or by mail.
The Start-up Visa Program application requires documentation demonstrating that the applicant meets all four major requirements for the program.
In addition, the application requires significant supporting documentation demonstrating the eligibility of the principal applicant and accompanying family members for immigration to Canada.
This includes medical exams and police certificates, ensuring that an applicant is not medically or criminally inadmissible. Many applicants will also be required to submit biometrics and certified translations of documents that are not presented in English or French.
The application fee for the Start-up Visa Program is CAD $1,575 for the principal plus a $500 right of permanent residence fee, $825 for accompanying spouse/common-law partner plus a $500 right of permanent residence fee, and $225 per dependent child.
All components of the application must be created in hard-copy, compiled in a single envelope, and sent by mail or courier directly to IRCC’s Centralized Intake Office in Sydney, Nova Scotia.
Applications are typically processed within 12 to 16 months. However, applicants can apply for a temporary work permit enabling them to begin working in Canada prior to the approval of their permanent residence application.
Once an application is approved, the principal applicant and all accompanying family members will receive Canadian permanent resident status.
S. Masood Canadian Immigration Services Inc., has been helping people like you achieve their dreams of visiting, studying, working or living in Canada. Shazia Masood Chaudhary is a Regulated Canadian Immigration Consultant (R709418) and member in good standing with the College of Immigration and Citizenship Consultants (CICC) and with the Canadian Association of Professional Immigration Consultants (CAPIC).
