Canada is not just a dream destination for skilled professionals seeking a better career, it is a land with unlimited potential for investors too. Yes, Canada immigration policies highly favor immigrants and foreigners desiring to either establish their startup here or planning to purchase or partner in one of Canadian businesses. If you are inclined towards owning a business in Canada, stick with us as we explore the most suitable possibilities for entrepreneurs like you.
What makes Canada a great place to build a new business?
● Canada has been rated as the best country in G-20 nations by Forbes Magazine for economic growth.
● Canadian economy offers a low-cost and low-tax environment to grow your business which is a rare finding.
● With a R&D perspective and world-leading research firms, Canada poses itself as a land of opportunities to innovative startups.
The next obvious question would be, “should I have a Canada PR Visa to start a business in Canada?” You will be glad to know that it is not necessary for an entrepreneur to have a Canada PR Visa to start a business in Canada. To specifically cater to investors and entrepreneurs, Canadian government offers Start-up Visa and immigration visa to self employed individuals.
Start-Up Visa or Entrepreneur Visa:
Canada’s new Start-Up visa is the first of its kind visa in the world which links immigrant entrepreneurs with experienced private sector organizations that have expertise in working with startups. The Start-up visa acts as a pathway for all the innovative entrepreneurs who are seeking a chance to start their own business in Canada. The visa paves the way for the desired applicant to immigrate to Canada without any conditions attached to the success of the business.
Under this visa program, if you are an entrepreneur willing to start a business in Canada, you need to find an angel investor in Canada who is ready to make a commitment to invest in the business. If you are funding your own business, you need to show the required funds. Along with this, the immigrant should meet language proficiency, education and health safety requirements.
Immigrate to Canada as Self Employed Person:
This Canada immigration program lets the applicant start a business in Canada as a self-employed person. To qualify for this, the applicant must have a relevant experience in cultural or athletic activities with an intent to make a significant contribution towards the growth and development of these fields in Canada. Proficiency in English or French remains a vital criteria to qualify for the process.
Invest in Canada through Partnership:
As an investor you can start a business in Canada in the form of partnership or corporation which will not require the candidate to migrate to the country. However, the other party has to be a Canadian resident or must have Canada PR visa.
Canada is a growing economy and the flourishing pro-business ecosystem is definitely a catch. A good business idea coupled with Canada PR visa can take the immigrant to new heights.