Strong economic growth: Forbes magazine rates Canada as the best country in the G-20 with which to do business. Canada has the strongest fiscal position in the G-7 and among the best fiscal prospects in the G-20.
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Low taxes and low business costs: Canada offers a low-cost and low-tax environment so your business can thrive. Canada’s overall tax rate on new business investment is significantly lower than that of other G-7 countries. KPMG ranks Canada as the most tax competitive country in the G-7.
Excellence in research and innovation: Canada offers a winning environment for research and innovation, including world-leading research and development (R&D) infrastructure, scientific talent and innovation incentives. Combined federal and provincial credits can return to foreign investors, on average, up to 30 percent of their R & D investment in Canada.
Top quality of life: Canada’s top quality of life provides a great backdrop for the success of individuals, families and globally engaged companies. According to the World Bank, in 2011 Canadians enjoyed nearly the highest standard of living in the G-20. Canada is home to a highly educated, flexible and multicultural work force.
Eligibility requirements of the program
To be eligible for the Start-up Visa Program, the applicant must:
- Have a qualifying business
- Get a letter of support from a designated organization
- Meet the language requirements
- Bring enough money to settle
- Pass Canadian security and medical clearances
- Plan to settle in a province other than the Province of Quebec
Qualifying Business
A qualifying business means you created a business that meets the following conditions:
- At the time you get a commitment from a designated organization:
- Each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners)
and
- Applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time
- At the time you receive your permanent residence:
- You provide active and ongoing management of this business from within Canada
- An essential part of the operations of the business happens in Canada
- This business is incorporated in Canada
Designated Organization
The applicant must get a letter of support from a designated organization.Designated organizations are business groups (venture capital funds, angel investor groups, and business incubator organizations) that are approved to invest in or support possible start-ups through the Start-up Visa Program. Successful applicants are required to secure a minimum investment for their Canadian start-up. If coming from a designated Canadian venture capital fund, the investment must be at least $200,000 CAD. If coming from an angel investor group, it should be at least $75,000 CAD. Applicants do not need to secure any investment from a business incubator. However, applicants must be accepted into a Canadian business incubator program.
Applicants are not required to invest any of their own money. If their Canadian start-up is unsuccessful, individuals granted permanent residence through this program will retain their permanent resident status.
Language Requirements
The applicant must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all four areas (speaking, reading, listening & writing).
Enough money to settle in Canada
The Government of Canada does not give financial support to new start-up visa immigrants. An applicant is required to give proof that he/she has the sufficient money to support themselves and dependents after their arrival in Canada.
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