All About Business Visa for Canada
Updated: Jul 1
Generally, there are two types of visas- multiple entry visas and single-entry visas. A multiple entry visa is usually valid for up to ten years. The applicant can come and go every six months without having to reapply. A single-entry visa allows you to travel to Canada only once. You must reapply for the visa to travel again to Canada. However, it must be kept in mind that both are valid only for a fixed time. Here is a guide that will give you an idea all about business visa for Canada.
Canada has different categories of immigration programs. A noticeable percentage falls into the business or entrepreneurship category. The goal of these programs is to promote overall economic development and create employment opportunities. They seek to open new opportunities and extend their access to foreign markets. Hence, they are more welcoming to individuals with high net worth as well as managerial or business experience.
ENTREPRENEUR START-UP VISA
The first step to being qualified for this program is to have a solid plan of a particular business that will be created in Canada. Moreover, the most crucial factor is that one must secure funding and support from a designated Canadian investment organization.
IMMIGRANT INVESTOR VENTURE CAPITOL PILOT PROGRAM
This program requires a solid financial asset. The applicant is required to have a net worth of $10 million and make a non-guaranteed investment of $2 million over 15 years. It is invested in Canadian-based innovative start-ups with high growth potential.
SELF-EMPLOYED PERSON PROGRAM
The basic criteria for this program is that the individual must be able and willing to support themselves as well as any other dependents. It must be through self-employed income whether as an athlete, artist, etc.
QUEBEC BUSINESS IMMIGRATION INVESTOR
They give an opportunity to investors to obtain Canadian permanent residence by investing CAD$1,200,000 risk-free by either financing the investment or through a financial intermediary. All applications must be sent through mail or courier service except for those candidates, who possess an advance to intermediate level of French proficiency. It is confirmed through a standardized test and such applicants are given higher priority while processing the applications.
The maximum number of applications that may be received for the upcoming application cycle is set at 1,900.
INVESTMENT- Must sign the agreement to invest the sum of CAD$1,200,000. This can be done either through an approved financial intermediary or by financing the investment.
MINIMUM NET-WORTH- A minimum of CAD$2.0 million is required as legally acquired net- worth. It can be either acquired alone or with the help of the spouse or common-law partner if they are accompanying the applicant. It may even include assets such as bank accounts, property, pension funds, stocks, and shares.
SUCCESSFUL COMPLETE MEDICAL EXAMINATION
SUCCESSFUL SECURITY BACKGROUND CHECK
DESTINATION- The destination must be set in the Province of Quebec in Canada.
PRIOR BUSINESS OR MANAGEMENT EXPERIENCE- It is essential to have a minimum of two years of management experience over a course of five years before the application process. Moreover, the applicant must hold a position defined as full-time in a specific enterprise. The company could be an international agency, department, or government agency but must have a minimum of two full-time employees.
START-UP VISA PROGRAM(SUV) / CANADA START-UP CLASS
The program allows qualified immigrant entrepreneurs to obtain Canadian permanent residence. It mainly aims to link innovative entrepreneurs with private sector investors in Canada who will help them establish their start-up business. They can initially come to Canada on a work permit supported by their investor and later undergo the qualification process once their business is up and running. There are three types of private sector investors. They include- Angel investor, Venture capital fund, and business incubator.
A candidate is required to fulfil the following objectives to apply for the start-up program visa.
A QUALIFYING BUSINESS PLAN
PROFICIENCY IN ENGLISH OR FRENCH AT A MINIMUM OF CANADIAN LANGUAGE BENCHMARK OF FIVE
COMMITMENT CERTIFICATE AND LETTER OF SUPPORT FROM DESIGNATED ENTERPRISE
SUFFICIENT AND TRANSFERABLE SETTLEMENT FUNDS
There are other business ownership requirements as well, for the start-up visa program. In order for the candidate to qualify for a permanent residence, they must meet the following criteria-
The candidate must own at least 10 percent of the voting rights in the corporation.
The intended business should be incorporated and carrying on business in Canada.
No other individual can hold fifty percent or more of the voting rights in the corporation.
VCAN immigration solutions is one of the best business visa consultants in Brampton. We are a Canada-based immigration company with the main motto of representing of families, skilled workers, students, businessmen, and professionals who are deciding to immigrate to Canada. We make ensure that our clients receive accurate advice and adequate guidance. We keep them updated with all the necessary details with regard to their application for immigration to Canada.