Canada has emerged as a preferred country for Indians to immigrate owing to its growing economy and high living standards. From the time you land in Canada to the journey of settling down in Canada, you will feel welcomed by this wonderful country and its people. Besides a fulfilling Canadian life, Canada offers a lot of options to immigrants who want to establish their own business and startups in the country. It provides you with a plethora of opportunities to succeed and grow your business in Canada. Moreover, it is not necessary for an entrepreneur to have a Canada PR Visa to start a business in Canada as specific visa options are provided to encourage foreign businessmen.
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.
Canada is on a continuous lookout for entrepreneurs and self-employed people with an innovative idea. If you are an immigrant and want to set up your own business in Canada, it can be done by either applying for a Start-up Visa or by Immigrating to Canada as a self-employed person.
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.
To qualify for a Start-up visa, the immigrant needs to find an angel investor in Canada who is ready to make a commitment to invest in the business.
Upon having a commitment, the immigrant can approach IRCC to immigrate through this program. For this kind of Canada immigration, there are some standard health and security criteria that need to be met along with demonstrating the ability to fluently communicate in either English or French. The candidate must have completed at least one year of post-secondary education and needs to show enough funds to run their business.
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 vital criteria to qualify for the process.
One can also 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.