People who wish to immigrate to Canada can do so through the investor visas the country offers.
Canada’s Investor and Start-Up visa grants foreign nationals permanent residency after meeting certain mandatory requirements.
This article will discuss Canada’s Investor and Start-Up visa in detail, describing its eligibility criteria, benefits, and investment requirements.
If you want to know more about the programs, stay here and read the article carefully.
Canada’s Investor Visa Programs
The Federal Investor Program (FIP) is currently terminated. This program offered business individuals with high net worth permanent residency, and in exchange, they had to make an investment to contribute to Canada’s economy.
Let’s discuss the Provincial Nominee Programs (PNPs). These programs are designed to attract investment in specific provinces that contribute to regional economic development. Provinces have their own eligibility criteria, investment requirements, and processing periods.
Know about some of the well-known programs:
Quebec Investor Immigration Program (QIIP)
- Investment
This program’s minimum secured investment is $1,200,000 CAD in a government-approved five-year project.
- Eligibility
- Minimum net worth of $2,000,000 CAD
- Minimum two years of management experience in a for-profit business
- Language proficiency is not mandatory but might be beneficial. Knowledge of the French language will be an advantage
- Benefits
- Relatively faster processing than other programs
- Grants Quebec-specific work permit
- It allows a pathway to permanent residency after meeting investment and stay requirements
The Manitoba Provincial Nominee Program (MPNP) – Investor Category
- Investment
There are two investment options available:
- If the business is located within the Manitoba capital region surrounding Winnipeg City, the minimum investment amount should be $250,000 CAD
- If the business is located outside the province, the minimum investment amount should be $150,000 CAD
- Eligibility
- Minimum net worth of $500,000 CAD
- Management experience will be an added advantage
- Language proficiency is English or French
- Benefits
- Affordable investment option
- The entrepreneur-focused option allows for direct investment in a Manitoba business
Saskatchewan Immigrant Nominee Program (SINP) – Investor Category
- Investment
The two investment options are:
- If the business is located within the city of Regina or Saskatoon, the minimum investment amount should be $300,000 CAD
- The minimum investment amount should be $200,000 CAD if the business is located outside the province.
- Eligibility
- Minimum net worth of $500,000 CAD
- No need for management experience
- Language proficiency is beneficial but not mandatory
- Benefits
- Streamlined application process
- It offers lower-risk
Canada Start-Up Visa (SUV) Program
Canada’s Startup Visa (SUV) program is an attractive option for entrepreneurs seeking permanent residency in Canada. The program prioritizes business ideas and fosters job creation.
Eligibility Criteria
Let’s understand the major eligibility requirements to qualify for this program:
- Applicants need a Letter of Support or Investment commitment from the Designated Organization based in Canada.
- Each foreign national must own at least 10% of the shares. Investor and Designated Organization must jointly hold 50% of the total shares.
- The business concept must be innovative, have potential for growth, and create jobs.
- The business must be incorporated in Canada
Designated Organizations
Designated organizations are angel investor groups, incubators, or venture capital funds approved by the Canadian government. These organizations evaluate the viability of the business plan. They provide financial support in exchange for equity in your company.
To proceed with the start-up visa application process, it is crucial to secure a Letter of Support from a designated organization.
Benefits of the SUV program
The visa program provides numerous benefits to the entrepreneurs. Below mentioned are a few of the advantages:
- Path to Permanent Residency: After meeting the program requirements, the SUV program grants a clear path to permanent residency.
- Open to All: It is a global program that is open to all foreign nationals despite their nationalities.
- No Net Worth Requirement: Unlike other programs, there’s no need for a minimum net worth requirement. It focuses on the potential of your business plan.
- Work Permit: While the permanent residency application is processed, individuals are allowed to obtain a work permit to live and work in the country.
- Support for Entrepreneurs: Designated organizations often help entrepreneurs make their businesses successful through mentorship, valuable networks, etc.
For detailed insights about this program and guidance with the application process, consult Global Residence Index (GlobalResidenceIndex.com), a place that helps its clients with all immigration procedures.
Key Considerations for Applying for a Canadian Investor Visa
There are some essential factors to consider when applying for visa programs. Some of the key considerations are listed below.
- Investment Requirements: Most programs have investment requirements that must be met to qualify for the visa. The investment amounts of each program vary depending on the chosen option. Individuals are allowed to choose the investment type.
There is a lock-in period for each investment before which you cannot withdraw or recoup the amount.
- Financial Eligibility: Some programs require a minimum net worth to understand the financial capacity of the applicant to settle in Canada. Individuals must show documents as proof of their funds to demonstrate that they can support themselves and their families in Canada.
- Language Proficiency: Knowledge of languages like English and French is beneficial. To demonstrate proficiency, try meeting the Canadian Language Benchmarks (CLB) in any of the two languages.
- Business and Management Experience: Some programs require good business experience and management skills. So, relevant experience strengthens your application. Also, demonstrate a well-developed business plan that can create the required number of jobs.
- Processing Times and Costs: Each program’s processing time can vary depending on various factors. There are also various costs associated with the visa application process.
- Residency Requirements: Some programs require mandatory residency requirements for a minimum period to keep the visa active.
Wind-Up
Obtaining permanent residency in Canada provides many benefits. Hope this article was useful and gave you an understanding of the various Investor and Start-Up visa programs the country offers.
Research each program thoroughly before making an investment decision. Review which program aligns with your goals and budget.