Canada is among the best countries to consider if you are looking for a new home to launch a business. It is rich in natural resources, has a stable government, and an immensely skilled labor force. Best of all, it offers several visa options, including the provincial-specific nominee program.
Upon the approval of your Canada investor visa, you and your family can move to the country with your family and business venture.
Canada is looking for expats who have the talent, entrepreneurial experience, and innovation to buy or start a business in the country.With investments open to newcomers, including UAE residents, Canada can guarantee the sustained success of its economy through development and diversification.
Here’s a closer look at the available Canada residency by investment programs, along with some important facts about becoming one of the country’s new residents.
Canada’s Start-up Visa Program is a general investor visa or business immigration option that permits you to move to the country by launching a business.
To ensure success with your application, you and your business must meet a set number of requirements. For instance, your business should be able to compete internationally, innovate, and create jobs for Canadians. While waiting for your visa, you can get a temporary work permit.
Canada’s Provincial Nominee Program allows every province to invite newcomers to live within their territoryif they possess the right work experience and skills.
New Brunswick is known for the Bay of Fundy, which has the highest tides in the world. It also offers a backdrop of clear lakes, beautiful beaches, majestic mountains, and lush forests to your business. Moreover, it has the fastest Internet in the country, highest graduation rate, lowest operating costs, and a skilled labor force, which makes it an excellent spot for business.
If you are a qualified applicant, you must initially deposit CAD $100,000 in escrow fundswith the province’s government.
Once the deposit has been made, you need to run a business worth a minimum investment of CAD $250,000.You should alsodemonstrate your intention and plan for how you will be involved with the business’ daily management.
You can receive a refund of the escrow deposit and permanent residency once all the terms and conditions of the Business Performance Agreement are fulfilled.
The perks of the New Brunswick Entrepreneurial Program include:
Prince Edward Island (PEI) may be a small Canadian province but it has a huge potential for economic and business growth. With its increasing aging workforce, the province has turned to foreign investors and entrepreneurs to sustain its growing economy.
If you are a qualified applicant, you can invest a minimum of CAD $150,000 in starting a business on PEI. You must operate the business for at least a year before becoming eligible for a permanent residency nomination.
A slight change from past program requirements entails applicants to apply for a work permit first. Once terms and conditions are fulfilled, you can be eligible to be granted permanent residency.
Unlike New Brunswick, PEI doesn’t require an escrow deposit. However, you need to have at least three years out of the previous five years of business ownership or transferable management experience, which includes managing a minimum of three employees.
Benefits of residing in PEI include:
As you prepare to live and start a business in Canada, you must embrace the fact that you may be living differently from what you are used to.
Here are some things you must know to increase your chances of success in Canada.
When relocating to Canada, you must know what rights you have upon arrival and during your stay.
The country’s Charter of Rights and Freedoms promises specific political rights to citizens and civil rights to every person in its territory. These include actions and policies of all levels and areas of the government. This Charter is a must-read for all newcomers because it is considered the core of Canadian civil, political, and social society.
You can avoid the harsh welcome to Canada by being aware of the basic cost of living in your chosen province before you relocate.
Doing research is essential. While most downtown areas are relatively expensive, provinces like PEI and New Brunswick offer a lower cost of living.
Most of the examinations or tests completed in your home country might be invalid in Canada. Some may even require paperwork for it to be converted.
Driving licenses in Canada can be a problem for expats for the following reasons:
The key is to check the rulebooks for international license-holders in your chosen Canadian territory and abide by these rules, and get all the necessary documentation done before your move.
Generations of expats have experienced a warm welcome to Canada, probably because multiculturalism is a huge part of the country’s ethos and national policy. So, expect to encounter myriad cultures, religions, and languages here.
This means you don’t have to let go of your values or cultures upon arrival to the country. However, you must be flexible so you can easily adjust and have the best chance of business growth and life success. Having an open mind will also benefit you.
If you have that risk-taking spirit and are searching for a savvy investment opportunity, Canada’s investor visa options may be the answer you’re looking for.
If you are unsure of the visa application process or need assistance, work with reliable and experienced agencies who can help you take advantage of your chosen residency program. They can also provide you with all the details you need to ensure the success of your new business venture in Canada.