With an investment of only about 4 billion guilders in 2022, the Canadian immigration investment form is one of the most attractive immigration programs available, accompanied by a detailed procedure and many attractive benefits.
Let's take an immediate look at the procedures and benefits of the Canadian Startup Visa Program. About the Start-Up Visa Program
The Startup Visa Program was introduced by Immigration Canada on April 1, 2013 for a pilot period of five years. 2018 saw the announcement of several new regulations and confirmation that the Canada Startup Visa Program is a permanent and official program.
Purpose of the Start-Up Visa Program (SUV)
The program is designed to attract foreign entrepreneurs with new and groundbreaking business ideas to immigrate to Canada. As the program's slogan states, "Canada needs more entrepreneurs," the Canadian government hopes that entrepreneurial programs for immigrant entrepreneurs will create a new "Silicon Valley" in this country, boosting economic growth and creating jobs for Canadians.
Unlike other programs around the world, the Canada Entrepreneurship Visa skips the step of granting "temporary" or "conditional" permanent residency. An approved applicant will have full rights to settle in Canada as a permanent resident.
Investment Procedures in Canada
Documents include. Resume, passport, IELTS test results and business idea to the Entrepreneurship Support Organization.
Interview with the startup support organization.
The startup support organization and the investor agree on the business idea, issue and sign a charter (also called a term sheet).
Prepare work permit (WP) and permanent residency (Permanent Residency) application documents.
Submit the documents as required by Immigration Canada.
Once approved, the applicant will receive a Work Permit (WP). The investor will need to come to Canada to receive the Work Permit.
With regard to opening a business, the investor needs to spend as much time as possible in Canada to develop the business project.
Finally, the investor and his family come to Canada, receive a Permanent Resident Card (PR) and settle down.
Benefits of the Canadian suv immigration consulting program
The profile may include.
- Spouse or common-law partner, but not yet registered as married.
- Dependent and unmarried children under the age of 22.
Approved applicants will be granted permanent residency for the entire family.
The right to apply for Canadian citizenship and retain dual citizenship.
No financial proof is required.
Can live in any province in Canada.
You can start your own company or business.
The opportunity to work for any company in Canada (many jobs are only available to green card holders or Canadian citizens).
Have access to Universal Health Care (UHC). Permanent residents will have most of their health care costs covered by the government, including emergency costs, immunizations, and regular health checks...
Children of permanent residents can study free from elementary to high school, pay university and graduate tuition equivalent to Canadian citizens (about 1/3 the cost of international students), and can apply to the government for study grant scholarships.
Receive social security benefits upon retirement (if working and fulfilling tax obligations to the Canadian government).
Canada Child Tax Benefit. Families with low-income children under the age of 18 will receive tax support from the Government of Canada to cover their monthly expenses.
The ability to own real estate or any property that a Canadian citizen is entitled to own.
Unlimited entry and exit to Canada without a visa.
Canada Investment Program Requirements and Fees
Start-up investment cost: C$224,000 (approximately VND4 billion)
Applicant and family members are in good health and have no criminal record.
Applicants must have completed at least one year of post-secondary education.
Possess English or French language skills (CLB Level 5)
Have sufficient financial means to live in Canada.
Be supported by a designated business start-up support organization (designated business incubator).
Reasons why the Start-Up Visa is currently the most important immigration program in Canada
Fast processing time. The Start-Up Visa is one of the shortest processing times for immigration programs today. It only takes 12-16 months to obtain permanent residency.
No Age Limit: There is no age requirement for applicants in the SUV program as long as the above requirements are met.
Ideal Business Environment. Canada was voted by Forbes magazine as the most favorable business environment in the G20. Currently, Canada's fiscal position is the best among the G7 countries and among the top of the G20.
Taxes and business costs are low. The overall tax rate for investing in new businesses in Canada is significantly lower than in other G7 countries. KPMG, the world's leading audit group, also ranks Canada as one of the G7 countries with the most competitive tax rates.
No proof of capital required. Applicants to the program do not need proof of funds, only that the candidate has sufficient financial means to live in Canada.
Top quality of life. According to the World Bank in 2011, Canada has the highest quality of life among the G20 countries. Canada has a highly educated, dynamic and multicultural workforce that offers excellent opportunities for individuals and businesses to thrive.
Naturalization in Canada is possible. The applicant has resided in Canada for at least 1,095 days in the last five years prior to applying for naturalization. In addition, the applicant is required to file and pay all taxes in accordance with Canadian regulations.
Is it necessary to visit and reside in Canada during the SUV application process?
There are no specific residency requirements for the program. However, since the program requires the principal applicant to demonstrate initiative in managing the business in Canada and a substantial portion of the business operations must be conducted in Canada, the principal applicant may be required to remain in Canada in order to meet these program requirements.
Are there financial requirements for start-up investments and living expenses in Canada?
No. Applicants only need to demonstrate that they have sufficient funds to meet the program requirements. There is no need to prove the source of funds. (Source of funds or pathway)
What are the requirements to maintain permanent residency in Canada?
In order to maintain permanent resident status, applicants need to.
Be in Canada for at least 2 years out of every 5 years.
Have not committed a serious criminal offence and been forcibly removed from Canada.
What are the conditions for obtaining Canadian citizenship?
The basic requirements for Canadian citizenship include
The applicant is a permanent resident of Canada.
The applicant must have lived in Canada for at least 1095 days in the last 5 years prior to applying for naturalization.
Adequately file and pay taxes in accordance with Canadian regulations.
Demonstrate English/French language proficiency, as required.