Considering the vast opportunity to do business in Canada, thousands of foreign nationals deal with Canadian companies because of its strong economy, low taxes, high quality of life and an excellent place for research.
Only knowledgeable business people with ability and intention to contribute towards the economy of Canada are considered suitable applicants for the business visa.
All selected applicants must possess criminal and medical records before entering Canada.
Type of Business Visa
- Start Up Visa Program
- Self Employed Program
Start Up Visa Program
Canada’s Start-up Visa Program is for immigrant entrepreneurs that have the potential to build businesses that are innovative, create jobs for Canadians and are globally competent.
Start-ups need to be supported by designated organizations that already have been approved by Canadian government to invest in such investments.
The designated organization supports a start-up by issuing a Letter of Support, necessary for Start-up Visa application.
Start Up Capital
Applicant must have minimum investment of $200,000 if capital comes from a designated Canadian venture capital.
If investment comes from a designated Canadian angel investor group then minimum investment required is $75,000.
No need to get capital from a business incubator. But that an entrepreneur must be part of Canadian business incubator program.
Start Up Ownership
Maximum 5 people can apply under Start-up Visa Program to be owners of a single business.
They must have minimum 10 percent of the voting rights in the business.
Designated organization and all applicants must jointly hold more than 50 per cent of the voting rights.
Minimum required level of the Canadian Language Benchmark (CLB) is 5 in English or French in all areas of speaking, reading, listening and writing.
Fund
Applicant must show their financial status to support themselves and their dependants.
Depending on the size of an applicant family following funds are required.
| Family Members | Funds (in Canadian dollars) |
|---|---|
| 1 | $12,300 |
| 2 | $15,312 |
| 3 | $18,825 |
| 4 | $22,856 |
| 5 | $25,923 |
| 6 | $29,236 |
| 7 | $32,550 |
For each additional member applicable charges are $ 3,361.
Self-Employed Persons
Self-employed persons are the ones that create their own employment in Canada. They can do so by contributing in the cultural, artistic or athletic affairs of Canada. Like purchase and management of a farm in Canada.
Besides age, education, language ability and adaptability, an applicant must have minimum 2 years business experience prior to making an application to CIC.
He/she must provide proof that business to be developed will benefit the said sectors in Canada.
He/she must create minimum 1 full time position for self in the business.
Although no net assets are required to be shown, but proof of enough funds to support yourself and family is duly required.
Benefit of Business Visitor Visa
- Participate in trade shows and conferences giving them great opportunity to meet prospective customers and do business.
- Entitled to visit family, friends and see Canada’s cultural & other attractions.
- Extend their stay in Canada.
- Selected applicants can easily travel across Canada.
- Explore schools and educational institutions to pursue career courses.