Before we dive in to get the details of a smart investor visa, let us clarify something that there is no inverter visa at all. The old investor scheme allowed foreign businessmen and women to invest up to $3million into Canadian investment immigration and avail a permanent residential address in return. These schemes have now been discontinued to pave the way for a more progressive entrepreneurial program. These new programs will help foreign entrepreneurs to own and run their businesses in Canada.
What is Business immigration?
Business immigration is the process of immigrating to Canada for the purpose of opening/ buying or starting a business to support yourself and your family.
More about Canadian Investor Visa
We will discuss the different ways to apply for a Canadian investor visa by revealing various options on how to start your Canadian business plan and how you can manage to become a permanent resident in the journey.
Business Immigration to Canada
This can happen in various ways. It simply depends on your business and business experience. Several programs can make you eligible to apply for a permanent resident in Canada.
Options for Entrepreneurs in Canada
- Buying a pre-established business– you can opt to buy a pre-existing business in Canada. Though there are rules for that, but they vary from province to province. An important things to take care of in this case is for the working staff in the company to stay even after the transition.
- Establishing a business from scratch– Foreign entrepreneurs often choose to open their own business in Canada. Hence, distinct provinces will have different rules for the minimum investment amount and many other categories. But most importantly, you need to create a whole new staff for your business and make them stay with you. Moreover, you need to create permanent employment for at least one permanent resident of Canada who is not your immediate family.
- Finding an Investor for your business– To start a new business or to carry on an old one, you need to have enough finances to run it with all your employees. Especially for immigrant entrepreneurs with intentions to start a business in Canada, plans for securing funding from a reputed organization in Canada are very important.
- Buying an existing Farmland– Apart from other business options, buying existing farmland or even starting a new farm can turn into a profitable farm in Canada. All you need to show before entering into the farm business is some experience for the same. Do not worry; the communities and the markets are very supportive and stable in Canada. Ranchers and Farmers in Canada live happy and prosperous life. They have to work a bit harder during the summer months and enjoy enough time off when snow strikes the country.
Also Read: Prolonging Your Visit In Canada
Canadian Investor Visa Program
The investor visa is for the start-up visa programs. It is a basic immigration scheme that offers immigrant entrepreneurs unique, innovative ideas to start a business in Canada. You will need to apply for a Canadian work visa application. While inspection, you will need to demonstrate and prove your skills and knowledge to execute your idea effectively.
Steps for Canadian investment immigration
The various steps for Canadian investment immigration are mentioned below-
Step 1: Secure proper reliable funding for your business from some designated organization that has its approval to invest in or support start-ups under this scheme.
Step 2: then, these designated organizations review your business proposal and decide whether to invest in it or not. Some organizations ask for detailed plans of your business, whereas some ask for an outline of your business. Every organization has its format for this purpose.
Step 3: You might be asked to give a presentation of your idea and plans to understand the scope of your business.
Step 4: If you are able to pass the first round, your idea will be assessed in-depth for its potential and profit estimations in the Canadian Market.
Step 5: once your project is chosen to be funded, you will be given a letter of support. And now, you have all the finance to start your business.
Eligibility for the Canada work visa application
To be eligible for a Canada work visa application and permanent residency, you must ensure the following criteria:
- you must have a qualifying business-
- When you get your permanent address, you must provide an active and ongoing role in some daily management business in Canada.
- After getting the support of a designated organization, you must hold at least 10 percent of the voting rights attached to all the shares in the corporation and applicants, together with the supporting company holding at least 50 percent of the voting rights.
- The business must be set up and ongoing in Canada.
- You should have a letter of support from some designated supporting organization for your business.
- You should meet the language requirements –
- You should be fluent in either French or English to maintain communication with the people of Canada to run your business.
- You need to qualify for a Canadian Language Benchmark (CLB) test and score equal to or higher than 5 in all categories of reading, writing, speaking, and listening.
- You need to show proof that you have enough money to settle in Canada and run your business.
- You will not have any support from the Canadian government for your start-up programs as a start-up visa applicant.
- It would be best to show that you have the minimum required amount to carry on your life and take care of your family in Canada.
Various immigration and visa consultants in chennai help you manage your start visa for various countries. CroyezImmigration is one such Consultancy service. It is the best immigration consulting company delivering seamless end-to-end guidance using a standardized approach to aspiring clients for visa services. Going through all this can be very hectic and time-consuming, but you need to have a lot of patience. With strict rules, deadlines, procedures, and requirements, it is necessary to be careful and active during the entire process.