Canada’s immigration department has launched a Start-up Visa Program for young, skillful, qualified and ambitious entrepreneurs with a will and desire to set up base for their businesses in Canada and settle down over a period of time.
Entrepreneurs should be willing and able to do the following.
- Create new employment opportunities for the Canadian public.
- Set up a business that meets international standards and is globally competent.
- Break away from the tried and tested. Come up with an innovative and unique business plan.
Canada is just about the best destination for any start-up. The following reasons would clear any lingering doubts.
- Tax rates are lower than in most countries and the country scores high on account of corporate tax stability
- Canada ranks among the top 10 countries in most living standard indices
- Canada is a cost efficient country for businesses
- The country is one of the strongest economies in the world and ranks 10thin GDP terms
Eligibility Criteria for Start-up Visa Program
Applicants must ensure the following eligibility requirements are met before putting up an application for this visa category.
The Business Idea must be supported by a Designated Organization in Canada
It is essential to secure a Letter of Support from a designated organization and the same must be attached as a part of the application failing which the application may be refused.