Know About Canada Start Up Visa Eligibility Criteria
The concept of startup has been doing the rounds globally, and many emerging enterprises are capitalizing upon the possibilities and benefitting in the best way. The best advantage of startups is the low cost incurred to start them and employment generation that they harbor in the long run.
Most of the economies are on the quest to look for investors and when they are getting the best ones through visa programmes, in a way they are attracting investments in their economy. These small startup programmes are free from all hassles and governments globally strives the hardest to make sure that they happen to be a part of their economy.
In a bid to attract majority of the investments, Canada has envisaged a new visa known as Start Up Visa for Canada. Under the new Start Up Visa Programme, entrepreneurs from across the world would be invited to invest in the specific visa programme and help the economy to meet with its economic goals.
Start Up Visa Programme of Canada–A Quick Sneak Peek
The programme has been primarily created to target the immigrant entrepreneurs who are willing to take investments and generate better revenue from them. Considering the standard of living in the nation and ready demand for goods and services, many of the entrepreneurs have started observing this place as their area of investment.
For most, there is the capitalistic approach towards generating a huge scale of profit, but there are some who are willing to use the programme to gain Permanent Residency (PR).
Now, many would think that why has been the Maple Leaf Country emerging as a hotspot for undertaking the business investments and meeting with the expansionist pursuits. Well, in that case, one would like to go through these facts:
- A strong economy ensures stability and security of investment. The most important thing that any investor would like to consider as the top priority in their evaluation.
- Most of the taxes that are imposed on Canadian business are based on regressive scale. So, with the expansion of the business the tax reduces. This benefits the investors in the long run and they are always willing to make the most from such benefits.
- The huge amount of investments provided at the hands of the government for research and innovation has made entrepreneurs and business class the ultimate winners. With cutting-edge technology, state-of-the-art infrastructure, the investors and entrepreneurs are always on a profitable scale.
- Last and not the least is the ready demand. If you are producing goods and services, you would always like them to be consumed by the customers. The better living standards, better pay enhances the purchasing power of the people in the overseas hotspot, and thereby the demand of your business increases and so does the profit.
You must be eligible to take up the business in Canada and the best way would be through the respective sponsorship or recognition. The Start Up Visa to Canada will only work when the respective organization allows the startup business to be sponsored and run in the country. In a way, the bottom-line is that an existing business in the nation would be willing to support you. The documents cementing the probabilities of movement would be Letter of Support. In case, if you are not able to provide the Letter of Support, you application would stand rejected.
It is important that the business has overall five person in the managing department. It is crucial that every member in the business has 10% voting rights; thereby the total voting rights of 5 members would be 50%.
At the same time, the designated organization or the business sponsoring would hold another 50% of the voting rights. This way the visa should function, and every entrepreneur applying for this kind of visa has to keep all these things in their mind.
You cannot overlook the language requirement and one must meet with the basic proficiency level in English and French. With all these things in the head, you will definitely do great towards making the business a grand experience.