The Federal Government in Canada, through the citizenship and immigration program have launched new methods to become permanent resident using the start-up visa program. The start up visa helps applicants get permanent residency in Canada. Applicants from all over the world are welcomed.
Start Up Visa Program:
This program is a Temporary residence permit run mainly by entrepreneurs who raise outside funding and if certain conditions are not met, a visa which is converted to permanent residency is given to them.In other words, it is used to create visa for entrepreneurs who raised capital from qualified American investors.
For one to be eligible or to qualify for the start up visa program, you must
1) Have enough money which will sustain you pending on when your business will start yielding.
2) You must have a support letter from a designated organization.
3) You must meet the language requirements
4) you must have a qualifying business. This is to say that your business must meet certain conditions which include.,
- You must hold atleast 10% of voting right.
- The individual and the organization must hold atleast 50% of the total voting right
- You must make sure that the essential part of the business take place in Canada. This means that the support must come from an organization that has already been approved to invest in. However, you will need to convince the organization that your business idea is worth the risk
To meet the language requirements means you must be able to communicate fluently in English or French. a test is taken here to see if you meet up with the Canadian language benchmark which includes speaking, listening, reading and writing.
Advantages of Canada Start-up visa
1) The entrepreneur can get valid advice from the designated organization which can take the business to its success level.
2) The entrepreneur can get a permanent residence.This is after meeting up with the necessary requirements.
3) The entrepreneur can work in a very conducive environment.