The Startup Visa Program was created to help the country attract and retain foreign entrepreneurs; the program provides a permanent residence for any immigrant who is willing to start a company that will create at least five jobs.
This visa comes with a set of benefits, including an expedited green card process, as well as access to funding from the E-2 treaty investor visa, here are some reasons why you may want to consider this type of visa.
Why Consider the Startup Visa Program?
The Startup Visa Program is a great way to attract and retain foreign entrepreneurs and in fact, Canada is one of the few nations that have this type of visa however, it is important to remember that the US is the world’s superpower in terms of digital innovation and that it would benefit from attracting more talent.
The US currently ranks 4th on the World Digital Competitiveness Index, while this isn’t bad, it’s not as high as it should be considering how much investment goes into digital innovation each year.
According to The Globe and Mail, there are over 50,000 immigrant entrepreneurs in Canada who create jobs for Canadians every year wherein, this number would likely increase if more people knew about this program and these types of visas also have a history of encouraging investment both domestically and internationally.
Permanent residency through these visas can lead to an expedited green card process for eligible applicants who start a company in the country that creates at least five jobs within two years.
This visa comes with a set of benefits, including access to funding from other sources such as the E-2 treaty investor visa program in addition to an expedited green card application process and more legal support for those seeking asylum or refugee status.
Who Can Apply for This Visa?
The Startup visa program is open to any immigrant who has successfully launched a startup in the U.S. You may be eligible if you are currently living outside the United States, have a valid nonimmigrant visa, and are willing to start a business that will create at least five jobs.
What Are the Requirements?
To qualify for the program in Canada, the entrepreneur must have at least $200,000 in capital to start a company that will create at least five jobs plus they must also have a full-time job offer from an American company or invest $100,000 into a new business.
How Long Does It Take to Get Approved?
To be eligible for the Startup Visa Program, you must create a new business in the US that will employ at least five full-time employees and if you meet this requirement and are approved, it will take about six to nine months to receive your visa.
Conclusion
Want to immigrate to Canada and start a business but you don’t have any connections? Then, the startup visa program in Canada is an excellent opportunity for you to make a life for yourself in a new country and with the right business plan, you can be making a difference in your new country in less than 6 months.
