Canada is a culturally diverse, welcoming nation that offers a high quality of life. To many people, Canada is the ideal location to settle down and enjoy an improved quality of living. Other newcomers to Canada looking for a chance for growth or a second chance at succeeding in business, consider the option of a Canadian investment visa.
The Canadian government has made great relaxation changes to the immigration policies that are geared towards investment.
The best part is that this type of immigration program does not require you to become a permanent resident. All you need to do is make an investment in a designated area or resource sector, and then you can leave the country without ever having any obligations to it.
Since the Canada investment visa program was first enacted, investors from around the world are applying to immigrate to Canada under this visa program. The investor visa is perfect for both permanent and temporary residents. In fact, even those with no intention of becoming permanent residents can benefit from this type of Canadian immigration program.
How Does a Canada Investment Visa Work?
Canada is one of the countries favored by investors due to its attractive and investor-friendly immigration policies. The Canadian government has enacted several procedures that are designed to attract foreign investment while also protecting the homeland from any possible security risks. Since foreign investment is always welcome in Canada, the government has put in place a number of programs to protect investors from unfair treatment and ensure that their business investments benefit both the investor and Canada.
Foreigners considering investing can apply for an investor visa if they agree to invest at least two hundred thousand Canadian dollars, which must be legally obtained funds (subject to verification), into an eligible project or business in Canada. The investment capital must be managed and controlled by the applicant, within a period of time from the date of approval.
Types of Canada Investment Visa
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Start-Up Visa Program
This program is focused on attracting foreign investors who are already established in an eligible business (or wishing to establish a business). The foreign investor will be allowed to apply for a temporary visa that allows him or her to maintain their residence in Canada while they complete their studies and build the business.
The Start-Up Visa is always focused on the creation of new businesses that will benefit Canada. Businesses must focus on innovation, technological development, commercialization, or spin-offs. The foreign investor must be an active member of the business and it usually requires venture capital funds.
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Entrepreneur Visa Program
This program is focused on seed or start-up investment. Entrepreneur visas are utilized to invest in an existing business or to invest in a start-up business. The foreign investor must be actively involved in the management and development of the Canadian business with significant investment capital. Both individuals looking to invest with an existing business, or individuals wanting to invest in a new business can benefit from this type of Canada investment visa program.
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Intra Company Transfer
As an investor, you can transfer your existing business to Canada and expand it using the ICT program. Depending on the type of business you wish to bring over, you will be eligible for permanent residency after a minimum of a year. This program is useful for investors who have an existing company that they would like to develop in Canada, or those simply looking to start a new business.
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LMIA Work Permit Program
LMIA stands for “Labour Market Impact Assessment”, which is a process that allows foreigners to fill a job that is not available in Canada. The process allows foreign workers, including entrepreneurs, investors, and others to apply for permanent residency after two years of employment in Canada. This category of immigration visa is good for those who wish to enter Canada as a temporary worker or with the intention of immigrating sooner rather than later.
Major Requirement to Apply for Canada Investment Visa
- Minimum Capital: The minimum amount of funds that a foreign investor, who is applying to immigrate to Canada, will need to have in his or her possession is $250,000. This money must be legally obtained and the investor must be in full control of the capital.
- Run a Successful Business: To successfully apply for a Canada immigration program, it is necessary to run a successful business or have enough funds to buy or start one in Canada. In order to participate in the investment visa program, foreign investors are required to show that they meet the minimum financial requirement and will be in good standing with their existing business. This money must be legally obtained and the investor must be in full control of the capital.
- Possess Business Skills: The applicant must possess skills needed in the development of business vision and the management of business activities, including skill set development. It is also important to highlight that management skills should include knowledge regarding financial management, marketing, and product development, human resource management, and customer service.
- Relevant Business Experience: The applicant must have relevant business experience in the field in which he or she is planning to enter. In addition, the applicant must have successfully employed people in his or her business and demonstrated that he or she has knowledge regarding labor laws, health and safety laws, product specifications, and licensing regulations. Applicants with managerial experience are preferred over those without such a required skill set in order to be eligible for Canada immigration programs.
Conclusion
In conclusion, Canada offers superior business immigration programs. Investors, entrepreneurs, and individuals with a business idea can benefit from these programs. It is important to note that these programs are mainly geared towards foreign investors in the different sectors with valid investment funds.
Entrepreneurs looking to start a new business or expand an existing one can also benefit from these programs, as they provide great opportunities. If you are a foreigner with money who wants to move out of your country or relocate to Canada with your family members, you will be able to acquire permanent residency if you meet the criteria.
