Issuance of Startup visa to Canada

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The Canadian Startup Visa program, introduced in 2013 (in 2018, the visa quota was increased from 2,750 to 700 thousand), is aimed at attracting active foreign entrepreneurs capable of creating innovative projects to the country. Issuance of visas to young talents from different countries is connected with the intention of the government to develop high technologies in the country, accelerate economic development, provide local citizens with new jobs and compete with the famous American Silicon Valley.

Startup Visa (Canada) gives an opportunity to immigrate to the country, to get permanent residence not only to "generators of ideas", but also to their families.

Features of the program "Startup Visa Canada"

A business idea must necessarily be:

• innovative;
• competitive;
• that will create jobs for Canadians;
• commercial (not scientific, research, but aimed solely at generating revenue).

If the project meets these conditions, you can count on the support of sponsors:

• business incubators;
• venture capital funds;
• private investors (business angel groups).

The minimum investment from a venture capital fund is $200 thousand, from private investors - $75 thousand. The amounts are relevant even if the project is supported by several investors at the same time. If the business is accepted into the incubator program, there are no requirements for the amount.

It is not necessary to invest your own funds, but if the startup is unsuccessful, the entrepreneur will lose the right to long-term residence in the country.

What gives a business visa to Canada

1. The ability to reside in any region of the state.
2. Obtain permanent residence, and after 5 years - citizenship.
3. Reduction of taxes due to deductions of the entrepreneur for food, education, payment for housing (rent or mortgage), paid medical services.

Requirements to the applicant for Startup visa to Canada

1. Receipt of investment or acceptance into a business incubator program.
2. Knowledge of English or French at an above average level.
3. Availability of sufficient finances to live in the state. In 2020, the amount for one person is 12,960, for two people 16,135, for three people 19,836 Canadian dollars per year.

In addition, the applicant needs to confirm the absence of health problems, the absence of a criminal record for himself personally and family members. Education and age of the entrepreneur do not have special significance.

When applying to the embassy, applications are made for all family members who are planning business emigration.

For assistance in preparing and analyzing a business plan, applying for a business incubator, collecting documents, and applying for a startup visa to Canada, please contact the migration lawyers of Legal Solutions.

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