Canada is on the lookout for talented entrepreneurs to boost the country's economy and create new jobs for local residents. Every entrepreneur interested in starting their own business abroad can take advantage of the new Canadian visa program. Learn more about the features and procedure for obtaining a Start Up visa in Canada in 2024

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For many years, Canada has been one of the most attractive countries for immigration due to its flexible system. The Start-up Visa Program for business immigrants is particularly popular. Interest in this program is constantly growing, and the number of applications from applicants from all over the world has increased significantly in recent years. The largest number of applications for a Canadian Start-up visa were submitted by citizens of France, the United Kingdom, the United States and India.

The Canadian Start-up Visa Program allows immigrants to establish a new business in Canada. Applicants must demonstrate an original business plan, its potential to create new jobs for Canadians, and its international competitiveness.

Through such programs, entrepreneurs can get the opportunity to relocate to Canada and realize their ideas while receiving support from the country's innovative environment. Canada is committed to attracting talented immigrants, which will help develop the economy and promote the country's cultural diversity.

Features of the Canadian Start Up Visa program

Today, the Start-up Visa program in Canada is actively developing, attracting the most talented entrepreneurs from all over the world, especially those who work in the field of development and application of innovative technologies. This program creates interesting conditions for business development, which helps to maintain Canada's competitiveness and ensure the stability of economic development in the country.

Statistics as of the beginning of this year show that 51 businessmen from around the world were granted permanent resident status under the Start-up Visa program. For entrepreneurs, the government has developed and continues to launch 26 start-ups across the country, including:

1. Sydney and Halifax;

2. Fredericton and Toronto;

3. Mississauga and Waterloo;

3. Thunder Bay and Calgary;

4. Whistler and Vancouver;

5. Victoria.

Among the proposals considered under this program were works from a wide variety of industries, as well as such areas as:

1. Food technology and production;

2. Education sector;

3. Research in the field of medicine;

4. Banking;

5. Advertising;

6. Development and utilization of human resources.

The government sets a quota for the number of visas that can be issued per year for applicants of this program.

The Start-up Visa program is expected to bring significant economic impact to Canada, estimated by experts at more than $800 million over the three to five years of its operation. This proactive step will help create new jobs, support innovation and develop promising sectors of the Canadian economy.

For safe relocation to any country in the world, obtaining citizenship and employment, take the advice of an international lawyer. We help to solve complex and simple issues for your comfort and safety in any part of the world. 

Main stages and requirements for obtaining a Start Up Visa in Canada in 2024

The Start-up Visa program for entrepreneurs has its own peculiarities. The first stage is that an existing enterprise project is submitted for evaluation to a Canadian venture capital fund, investment group or business incubator. Here, the attractiveness of the project and its significance are assessed, and only after that the level of financial support is determined.

The second stage involves obtaining a temporary work permit for the applicant. This permit allows the entrepreneur to work on his or her project in Canada while completing the program.

The third stage is obtaining permanent resident status for the applicant and his/her family. This allows the entrepreneur and his family to legalize and settle in Canada permanently.

To become a participant in this program, you need to find interested investors in your project. The investor can be a Canadian venture capital fund, an investment group, or a business incubator. The amount of investment depends on the project and can range from $75,000 to $200,000 or more in some cases.

Real investment in your project is the basis for participation in this program. In addition, entrepreneurs can receive additional support from various business agents and business incubators to implement their promising projects. This program creates a favorable environment for the development of new innovations and supports entrepreneurs in realizing their business ideas in Canada.

In addition to a suitable business idea and investor support, a candidate for the Start-up Visa program must have several additional characteristics. First of all, they must demonstrate the ability to support themselves and their family on their own means upon arrival in Canada (availability of sufficient financial resources in the account or proof of financial support).

The second requirement is to demonstrate an appropriate level of English or French language proficiency. This is confirmed through a language test approved by Immigration Canada.

You also need to provide official proof of no criminal record and undergo a medical examination.

All the necessary documents and the application are sent for review, which usually takes several months. After a positive review of the application, the applicant can obtain a work permit, and permanent residence is granted within six months.

This program is open not only to sole proprietors, but also to a group of co-founders of a startup. Each of the participants must fulfill the requirements of the program to be able to obtain permanent resident status in Canada.

Benefits of the Start-up Visa Program in Canada 2024

The Start-up Visa program differs from other immigration programs in that it has no additional visa requirements. A visa is granted only on the basis of compliance with the program requirements without the need for interviews. 

Participants who are selected within the quota (the number of places is limited) will receive financial support for their project, as well as a unique opportunity to promote their idea on the global market. 

This approach simplifies the immigration process for businessmen who have promising startups and need financial support for their development. Thanks to this program, participants get unique opportunities to develop their ideas and enter the international market with an already supported project.

Igor Usyk - Head of Legal Department at Visit World

For safe relocation to Canada, obtaining refugee status and employment, use the advice of an international lawyer.

We help to solve complex and simple issues for your comfort and safety in the Canada.

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