Everything you should know about Getting a Canada Business Visa from India
Canada has always positioned itself as one of the best destinations for immigrant entrepreneurs, business investors, and innovative startup owners. For this reason, the government of Canada has introduced several business visas through which overseas nationals can apply for permanent residency status in Canada. Keep reading this article to learn about all up-to-date information on Canadian business visa pathways, including self-employed visa Canada, eligibility requirements, processing costs, and more.
What is a Business Visa for Canada?
Canada offers numerous business immigration programs to attract foreign investors to do business and settle with their families. There is no one-fit-all program, as there are several business immigration pathways at both federal and provincial levels that open up the opportunity to apply for a PR visa in Canada. Each business visa program is created for a specific type of foreign investor and responds to their business needs.
Once your file gets selected, you can set up your business in Canada on a work permit. While operating your business, you and your family can apply for permanent residence in one to two years.
Types of Business Immigration Programs in Canada
The following business visa programs are the most popular in Canada in 2023. Below is a brief summary of each program:
Intra-company Transfer (ICT) — This type of Canada business visa is designed for businesses with existing operations abroad and who wish to expand to Canada. Don’t get confused with the term “transfer,” as, in reality, you are developing the functions of your existing business in Canada. The applicant can transfer as an employee from their home country’s branch to a new Canadian operation.
Startup Visa- This visa pathway is for individuals with an innovative business idea that can be implemented in Canada. Owners of established startup firms with scalable business concepts and financial backing can apply for this visa stream. However, one must first secure a letter of support from a designated Canadian organization to be eligible. For this reason, your startup idea must be able to generate some revenue in Canada. This program is available for startups and up to five co-founders and their immediate family members. The SUV program also leads to permanent residency in Canada.
Entrepreneur Visa (C11) — This business visa stream is ideal for applicants who want to purchase or invest in an existing business in Canada. The C11 visa Canada is also created for foreign investors who wish to set up a new company in Canada. Your family members can also become permanent residents through this visa.
Canadian Business Visa Requirements
Each business immigration stream in Canada has different eligibility requirements to cater to the different needs of investors and the Canadian economy. However, the below-mentioned are common to most programs:
· You should possess an investment of around CAD $100,000 to CAD $350,000 to set up a business in Canada.
· You must have sufficient skills and business experience to operate your business in Canada.
· You must be genuinely committed to starting your business in Canada.
· Have a solid business plan for your Canadian business.
· You must demonstrate extensive knowledge of business investment and market in Canada.
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