While business immigration in Canada holds many promising opportunities, it can also bring some confusion. Getting answers to your questions and hiring a Mississauga based Immigration lawyer to ensure you understand and comply with the requirements is in your best interest. Here are some frequently asked questions about this topic.
What are the Eligibility Requirements for the Start-Up Visa Program?
To be eligible for the start-up visa program, you must:
- Have a qualifying business
- Receive a letter of support from a designated organization
- Meet the language requirements
- Be financially stable enough to settle and live in Canada before making money from your business
How Much Money is Required to Cover Living Expenses?
This amount varies depending on how many family members will be accompanying you. Sometimes, the designated organization will provide extra financial support to cover living expenses. Keep in mind that you are not allowed to use the investment money for your start-up business to pay for living expenses.
Who Reviews Applications for the Start-Up Visa Program?
The first step in the application review process is for your designated supporting organization(s) to review the viability of your business proposal. If they support your proposal, it will then be reviewed by the Immigration, Refugees, and Citizenship Canada. If you already have the necessary support to apply and you are eligible to become a permanent resident, it will be approved. From there, it may be put through an independent peer-review process to protect against fraud and ensure your business is in line with industry standards.
What if I Immigrate Via the Start-Up Visa Program and my Business Fails?
The Canadian government recognizes that not every business will find success. This program was crafted to divide the risk between the public and private sectors. If your business is not successful here, it will not impact your permanent resident status.
What is the Minimum Investment Needed for a Startup Visa?
To immigrate to Canada on a start-up visa, you must have a minimum investment from an approved organization of $200,000 or $75,000 from a designated angel investor. However, businesses that are accepted into a business incubator program are not required to secure any investment.
Are Self-Employment Visas Available?
It is quite common for self-employed immigrants to come to Canada. In order to do so, you need a minimum of two years of applicable experience as a farmer, professional athlete, or artisan. If you meet these requirements, you could be granted a self-employment visa.
Work with an Experienced Immigration Lawyer in Mississauga
If you are considering obtaining a visa as an entrepreneur or self-employed individual to enter Canada, you should speak to an experienced lawyer as soon as you can. Schedule a consultation with Nanda & Associate Lawyers by calling (905)-405-0199 or use our online contact form. We assist clients of all nationalities and backgrounds and offer services in 15 different languages, including English, French, Hindi, Punjabi, Gujarati, Bangla, Chinese, Italian, Telugu, and Tamil.
