The Canadian government has set up a number of ways to make it easier for people from other countries to move to Canada. One of these ways is through the business and investment route. By getting a Canadian business visa, you can move from your home country or country of origin to Canada.
Through various Canada business immigration pathways, it is now possible to move to Canada by just meeting some easy-to-get criteria of the business and investment programs, which guarantees a business visa. You must know, though, that a business visitor visa and a business visa are not the same. Their statuses and requirements are different.
Who in Canada is a business visitor?
A business visitor is someone who wants to do international business but doesn’t want to join the Canadian labor market. holds a temporary visitor status in order to look for ways to grow his business, invest, or improve business relationships. People who come to Canada for business can stay for a few days, a few weeks, or up to 6 months.
For a business visitor, all they need to get into Canada is a visitor’s visa or an electronic travel authorization (ETA). If they want a visitor visa, they may also need to give more information, fingerprints, and a photo for biometrics.
What is a visa for business?
A business visa is a type of Canadian business visa. These visas are made to attract and bring into Canada powerful and experienced business people and entrepreneurs who can create businesses and jobs for the Canadian labor market through their investments.
In the category of business visas for Canada, the following are:
• Start-up visa: The start-up visa is for people who are already business owners or co-owners and who have the skills to start-up, own, and run a business in Canada. This means that they can create jobs and bring more money into the Canadian economy. To get this visa, however, your business must be backed and listed by a body or organization on Canada’s list of designated organizations for start-up visas.
• Self-employed immigrant visa: This type of visa is for athletes, artists, farmers, and other skilled professionals who can work for themselves in Canada.
• Immigrant investor venture capital visa: This is a special type of visa for wealthy people who have a net worth of at least 10 million Canadian dollars and are willing to invest at least 2 million Canadian dollars in the Canada immigrant investor venture capital fund. This type of visa, on the other hand, has been put on hold for now.
• The provincial nominee program is a different kind of program that is run by the provinces and territories in Canada. It gives them the freedom to invite foreigners who meet their skills and requirements to move to their provinces. Some of these PNPs also have programs for immigrants who want to start a business in Canada. These programs are for entrepreneurs or investors.
This type of visa allowed close to 9,000 people to move to Canada before the end of 2013. It has been going on since then, making it possible for high-net-worth, skilled business owners and self-employed people with the assets they need to get into Canada’s booming economy.
Time it takes to get a business visa for Canada
The time it takes to get a business visa is usually between 1 and 6 weeks. This is usually based on how busy the Canadian embassy is at the time.
Do you need IELTS to get a business visa?
A proof of language is needed to get a business visa to Canada. This could be in English or French, depending on how well you can communicate. The IELTS general test is the official test for immigration to Canada. It is also the test that most people take.
Costs of applying for a business visa in Canada
It costs $100 to apply for a Canadian business visa, plus $85 for biometric information.
Under the business visa category, there are two main types of visas: self-employed visa and start-up visa
How do you qualify to move to Canada if you work for yourself?
To be a candidate for the self-employment program, you must be able to show that you have excellent cultural, artistic, or athletic skills that have allowed you to be self-sufficient and work in your country of residence or origin. You must also be able to show relevant and reasonable experience in your chosen field to show how you might be able to contribute to that field in Canada.
The category of self-employment, or field of endeavor, is split into two main areas: cultural and athletic/sporting. Cultural skills include things like dancing, writing, journalism, painting, design, music, fashion, sculpting, and so on.
Athletic/sporting skills include being an athlete, a coach, a referee, a program leader, or an organizer, among other things.
Some, but not all, of the basic requirements for a successful application are:
• You must have at least two years of relevant experience and be able to show proof of that. You must also be willing and able to work for yourself in Canada.
• You must get at least 35 points on the selection grid, which is used to figure out if you can make a big difference in Canada’s economy.
The selection grid is a list of five selection criteria and point systems, with a maximum score of 100 and a pass mark of 35. Candidates are chosen based on;
• The papers they send in • How well they did on each of the five selection criteria
• Be able to meet the definition of a self-employed person. • You may need to meet with a visa officer for other steps.
Some of the things that will be looked at as part of the selection criteria are:
Education is worth 25 points.
• Experience – 35 points
• Age – 10 points
• Able to speak English and/or French – 24 points
• Adaptability – 6 points
All together, that’s 100 points.
Details about the way the point system works can be found on the CIC portal under “Canada Business Visa Requirements.”
How much of a net worth do you need to be self-employed?
For the self-employed program, there is no minimum net worth requirement. However, you must be able to show that you have enough money to live in Canada with your family and pay for the business for which you have been chosen.
Canada Start-up Visa Program
The goal of the Canada Start-up Visa program is to encourage and attract entrepreneurs to move to Canada. To apply for a start-up visa, your business idea or venture must have the support of one or more designated start-up support organizations, such as venture capital funds and angel investor groups. These business incubators are groups that have been given permission to invest in or help start-up businesses and ideas.
Eligibility for a start-up visa program
• Have a business or idea that qualifies; • Have a letter of support from an organization that helps start businesses; • Meet the language requirements.
• Have enough money to move to Canada and live there.
Note: To be chosen to come to Canada, you must also meet the requirements for admissibility. Even if you meet the start-up program requirements, you will not be let in.
How much money do you have to put into your business before you can apply for a start-up program?
• You must have at least $200,000 to get money from a Canadian venture capital fund.
• You must get at least $75,000 from a Canadian angel investor group.
• You must be accepted into a Canadian business investor program in order to get money from a business incubator.
List of investor groups that are approved for a start-up visa
For your business to be eligible for a start-up visa, it must have the support of one or more of the following organizations:
• Venture capital funds
• Groups of angel investors • Places to start a business
These are the groups that the start-up program has given permission to invest in and help. Visit the link above to find out more about the list of designated investor organizations.
How much do you need to start a business in the U.S.?
As the owner of a new business, the amount of money you need to get into Canada depends on how many family members you are bringing with you. There is no set amount, and your investor company may give you some money to cover your living costs. But you can’t use the money from your investments to cover or add to your living costs.
How to turn a business visa into a permanent one
If you have the money, buying a business in Canada is a good way to become a business owner. Under the federal owner-operator rules, wealthy foreign immigrants with temporary work permits can start on a path to becoming permanent residents of Canada. A foreigner can get a work permit if he buys a business from a citizen or someone with legal status, or if the business owner gives him the majority of shares. After getting a work permit, an immigrant can apply for permanent residence through a number of immigration programs, such as the Federal Skilled Worker Program, the Express Entry Program, or a Provincial Nominee Program (PNP) business immigration pool.