Canada is a popular destination among internationals willing to study, work, and settle in a picturesque country. The country offers several business immigration programs at the territorial/provincial, and federal levels for international entrepreneurs, business visitors, and investors. Out of all the programs, some provide temporary residence, whereas some allow immigrants to enjoy permanent residence.
Coming to the business immigration programs specifically, they are:
- Start up visa program
- Business visitor visa
- Self-employed persons program
- Temporary entry for business persons via the country’s free trade agreements (FTAs)
- PNPs (Provincial Nominee Programs) for businesses
Of all the programs mentioned above, this blog focuses on SUV (Start Up Visa) and Self-Employed Persons programs. Let’s dive in to understand both of these briefly.
Start Up Visa (SUV) Program
The SUV program intends to attract new businesses to the country by allowing international entrepreneurs to move in with their families at the cost of starting a qualifying business. However, it is mandatory to have monetary support from the suitable designated entity before applying since they will bear the funds for establishing the business. Please remember that you will need enough funds to support yourself and your dependents on relocation. The program offers permanent residency, and you can apply for Canadian citizenship after three years of holding a PR.
Application Process
The application requires an online submission unless in exceptional circumstances. It is important to provide necessary documents proving your eligibility along with documents like a medical examination report and police clearance certificate. The usual processing time for a Canada startup visa is anywhere between 12 – 16 months, and based on the business situation and proposal, you may be requested to submit additional documents.
Self-Employed Persons Program
This program serves as a direct route to Canadian permanent residency and is designed specifically for international business people with appropriate experience in cultural or athletic activities. However, it is important to ensure the authorities about you staying self-employed in the country and making a significant contribution to their economy.
Application Process
Like the SUV program, the applications for this program are sent online. The process begins with signing up on the IRCC permanent residence online application portal, wherein you need to fill out certain forms like IMM 0008, IMM 5669, and more. After filling out the relevant application forms, upload the necessary documents on the portal. Lastly, complete the application payment, including RPRF (Right of Permanent Residence Fee), biometric fees, and others to submit the application. Please note that the processing time for this program can be as long as 22 months.
Wrapping Up
The Canadian government offers multiple business immigration programs for international investors and entrepreneurs looking forward to settling in the country. However, it is important to get in touch with a Canada business visa consultant to determine the most suitable and beneficial route for you.
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