The demand for Canada Visit Visa is on the rise, especially in the last few years. Canada is an attractive destination for all sorts of folks. However, there is another visa program that has become pretty popular recently – Start-up Visa Program. It is a permanent residency permit that grants entrepreneurs to start a business venture in the country. Read on to learn more about the program and what you need to be eligible for it.
What is Start-Up Visa Program?
As mentioned earlier, it is a program that is targeted toward entrepreneurs who are planning to start up their businesses in Canada. The aim of the program is to attract foreign entrepreneurs with innovative ideas & potential to create job-creating opportunities. For folks that are looking at the greener pastures of Canada to set up a business, this program presents an excellent opportunity.
To be eligible for the program, there are certain criteria that one needs to meet. Here are just some of the eligibility requirements for the Start-Up Visa Program:
- The business venture must be based in Canada.
- Your business must have the support of a designated organization, such as a venture capital firm, angel investor, or business incubator. A letter of support is required at the time of applying for Permanent Residency.
- You must own at least 10% of the business.
The designated organization and the applicants must jointly hold more than 50% of the voting rights in the business.
- Proof of financial support
- A clean criminal background is necessary for the approval of the application.
How To Apply For Canada Visa – Step-by-Step Application Process
1.Find a designated organization that can support your business venture. It is a crucial step, as a letter of support would be requested in the later steps.
2.Fill up the permanent residency application with accurate information. Attach the letter of support from the designated organization with the application and submit it to the department handling these affairs.
3.Wait for the review of the application. If there are any additional documents required, submit their copies immediately.
4.If the application is approved, you will get a confirmation of permanent residency. Your permit will be delivered to you in a few weeks.
Maintaining Permanent Residency Status
After you have received your Permanent Residency, it is crucial that you must maintain it as well. Luckily this is something that is quite simple for one to do. One needs to make sure that they are present in the country for at least 730 days in a five-year period. The success or failure of the business does not affect your permanent residency status.
Should one hire Canada visa consultants?
There is no doubt that this Start-Up Visa program is quite popular among entrepreneurs; however, it would be wise for folks to connect with Canada immigration consultants to make sure the whole process goes off without any hitch. The application process might seem like a straightforward one, but one would still want a hassle-free process. With the right help and preparation, you can easily navigate the application process and start your entrepreneurial journey in Canada.
It is pretty obvious that connecting with immigration consultants in Abu Dhabi for your Start-Up investment visa Program would be the best decision you will make today. And if you are looking for such a service provider, then Reach2World might be the partner you need. Reach2World is the leading Canada immigration consultant and would help you with your Start-Up Visa application.