Canada recognizes that ambitious businesspersons play a critical role in economic success. For many adventurous entrepreneurs Canada is an excellent place to start their new business ventures. The Federal Start-Up Visa program has recently been launched to attract and facilitate the permanent residence of such applicants. This program is unique in nature and seeks to attract the brightest and most creative of entrepreneurs wanting to bring their ideas and investments to work in Canada.
This program seeks to foster a significant investment in Canada which will lead to job creation and economic development. This visa favours applicants who have a defined plan for a new business venture in Canada and are willing to obtain the necessary support and funding for their intended venture. These visas allow applicants the opportunity to immigrate and settle themselves and their families in Canada.
Federal Start-Up Visa Basic Requirements
The Federal Start-Up Visa is intended for ambitious business applicants seeking to establish new ventures in Canada which will create jobs and foster economic development. To be eligible an applicant must:
- Have a plan to begin a new venture in Canada;
- Have the necessary net worth to carry out their intended venture;
- Have business experience and education;
- Be able to communicate in English or French; and
- Obtain a Letter of Support from a designated angel or investor group in Canada.
Federal Start-Up Visa Entitlements
Once granted permanent residence, business persons are free to settle in Canada and work, pursue further study or invest in a business. Applicants will have access to Canada’s first rate communication facilities, a highly trained workforce, special taxation incentives for business investment, close geographical access to the wider North American market. Other benefits of holding permanent residence include access to government-subsidized health care, subsidized education and the ability to apply for citizenship once eligible.