What’s the Startup Visa Canada? The Startup Visa Canada is basically a scheme for non-immigrant entrepreneurs who want to immigrate to the country and start a new company or expand an existing company. The applicant must open or purchase a startup company that is based in Canada that provides a positively impactful business to the Canadian economy and benefits the development of both the country and the entrepreneur.
There are several requirements that must be fulfilled for the Startup Visa. The applicant must have a proven business plan and the business must provide a clear path to achieving the desired end goal. The entrepreneur must also demonstrate that he has the capacity to manage his own business and that he will be financially prepared for at least two years of operation. Once he meets these requirements, he can apply for the visa.
The Startup Visa was established in 2020 with a view to attract entrepreneurs who have a proven track record in the field. In Canada, there is no need to spend money to immigrate. The only requirement is that the immigrant must be self-employed. There are three types of Startup Visa: Business, Professional, and Student.
The Startup Visa Business category gives priority to those entrepreneurs who have been in business for at least one year. The applicant needs to present proof of having at least five years of experience in business and must be ready to present financial documentation as well. The entrepreneur also needs to show that his or her investment will not exceed ten thousand dollars, or if the entrepreneur intends to invest in the startup of a business, that he or she will buy a property from the entrepreneur before the start-up of the business is completed.
The Startup Visa Professional category gives priority to those entrepreneurs who are planning to establish a small business. The application form is quite lengthy and requires more details about the business. The entrepreneur is required to prove that he or she is at least eighteen years of age, and has a degree from an accredited institution of higher learning. The investor also needs to provide evidence that he or she has enough resources to begin and sustain the operation of the business.
The Startup visa Student category gives priority to those entrepreneurs who are currently attending school. The student must prove that he or she is studying full time and is intending to continue studies while starting or continuing on a full-time program. In addition to that, he or she needs to prove that the planned course will help him or her become eligible for permanent residency. If the student plans to return to school after completing his studies, he or she must show that the course will be beneficial to him or her in starting and/or continuing a business. In addition to that, the student must prove that the study will be conducted in a country other than Canada.
Canada investor visa program is available to people from countries outside Canada. The only requirement is that the entrepreneur must be at least eighteen years of age or have the consent of a parent or guardian.
The startup visa Canada also allows an entrepreneur to stay in Canada for a period of up to three years after he or she applies for the Startup visa. If the entrepreneur intends to reside in the country permanently, he or she needs to leave the country for more than three years. At this point, the entrepreneur can apply for a green card. The application process for the green card is considerably less difficult and can be done in person or online.