Start-Up Visa Program – Get Canada PR Directly
In this blog, we are going to have a detailed discussion on the Start-Up Visa Program offered by Canada. We will also see what makes the Start-Up Visa Program better than other Canadian immigration programs.
Everything You Need To Know About The Canada Start-Up Visa Program
The Canada Start-Up Visa Program is a permanent residency program by the government to fulfill various goals. It aims to maintain a consistent flow of capital into Canada’s economy, boost employment, and promote entrepreneurship. The sole purpose of this program is to help new businesses or startups flourish in Canada without any difficulties. Moreover, the Canadian government seems inclined toward allowing qualified investors to contribute their funds and skills to the success of the business launched by a Start-up Founder.
What’s important to note here is that a Start-up Founder is an individual interested in migrating to Canada through the Start-Up visa program. They may also be experienced entrepreneurs who have had successful start-ups in another country but are now interested in bringing their businesses to Canada. However, there is no restriction that an applicant must be an entrepreneur since those with sufficient skills, experience, and knowledge of their profession are also eligible for this program. Such applicants can join a start-up by using their profile and contributing a minimum amount for investment instead of having to come up with a new business idea.
The total cost of the program is CAD 230000, including the fees and investment. It is safe to say that the Canada Start-up Visa Program competes with some of the world’s best investment and residency immigration programs. Another good thing about this program is that it allows the investor, their spouse, and children below the age of 22 to acquire permanent residency in Canada through a single application. The family can obtain a Canadian passport after spending a minimum of three consecutive years in the country.
Benefits of Canada PR
There are many benefits of obtaining permanent residency in Canada. It allows you to live in the country, seek employment, and pursue education at the best institutes in the world. Plus, permanent residents of Canada also get access to social benefits, including universal free healthcare and social security.
As per immigration advisors, many people prefer the Start-Up Visa Program because it is one of the easiest ways of unlocking the benefits of Canadian permanent residency. This ultimately proves beneficial for the children of applicants in the long run, who get access to the top schools in Canada throughout their student lives.
Most importantly, the Canadian public school system gives free primary, elementary, and secondary education to children with permanent residency. In addition to this, the restrictions of international admissions quotas concerning Canadian universities and graduate programs do not apply to students who are permanent residents of Canada.
Furthermore, those with PR cards have better chances of getting accepted into coveted university programs in comparison to international students. Moreover, people who have looked into international schooling for their children agree that education fees for Canadian residents are often one-fifth of the tuition charges of other countries. Saving a maximum of $200,000 for one child to complete a four-year bachelor program is good enough for a family with Canadian permanent residency. Needless to say, this proves increasingly helpful for families interested in sending multiple children to the US for higher education. Plus, there are various scholarships and government grants available to only Canadian permanent residents.
Universal healthcare is another reason motivating people to choose Canada for permanent immigration. This is a healthcare system funded by the Federal government to ensure that all residents and citizens get the same access to high-quality healthcare facilities. It is safe to say that the Canadian healthcare system is favorable for anyone who wants to move to Canada after retirement or sponsor elderly parents in the future.
Differences Between The Start-Up Visa Program and Provincial Entrepreneur Programs
The Start-Up Visa Program is currently the only federal program in Canada that grants permanent residency directly. While the Provincial Entrepreneur Programs permit applicants to come to Canada by investing in a business, they have a few restrictions. For instance, applicants of Provincial Entrepreneur Programs need to live in Canada for a certain period after acquiring a work permit before they are re-evaluated for permanent residency status. Plus, the investor is supposed to live in the same province as their business. What’s important to note here is that in the majority of cases, the success of an application of these programs is reliant on the success of the business the investor has invested in. Needless to say, such complications add a lot of unpredictability to the path leading to permanent residency. The investor may have to relocate to Canada and live there for years before the re-evaluation takes place.
On the other hand, the Start-Up Visa Program directly grants permanent status to applicants, allowing them and their family members to live and work anywhere in Canada. Moreover, applicants of the Start-Up Visa Program are entitled to the same benefits as the ones enjoyed by others with Canadian permanent residency. In addition to this, applicants are not bound to only work in the companies they have invested in since they are permitted to seek employment in any part of Canada. As a result, the investor or applicant can choose to work anywhere in Canada or launch a new startup. In contrast, an applicant’s work permit under Provincial Entrepreneur Programs gets approved by considering the business they have invested in. As a result, the work permits of such applicants do not allow them to seek employment of their choice in Canada. Provincial Entrepreneur Programs demand an investor to contribute time and skills to their own business. The Start-Up Visa Program does not have such limitations as the Start-Up Founder is responsible for the day-to-day management of the business, and the applicants or investors can participate as business advisors.
Furthermore, the permanent residency status obtained through the Start-Up Visa Program remains unaffected if the business the applicant has invested in fails. It does not depend on the success of the investor’s business. However, applicants under the Provincial Entrepreneur Programs only become eligible for permanent residency if their business becomes successful.
Moreover, the investment and maintenance costs of an applicant’s business under Provincial Entrepreneur Programs often exceed the expenses incurred by an applicant of the Start-Up Visa Program.
Difference Between The Start-Up Visa Program, PNP Programs, And The Express Entry System
The Canada Start-Up Visa Program has dethroned the Canada Express Entry Program as the most favorable way of acquiring permanent residency status directly. It is no secret that the Express Entry Program has been regarded as the most accessible Canadian immigration program for skilled workers around the world. However, the number of applicants under the Express Entry Program increased drastically once Canadian authorities removed the requirement of first obtaining a job offer in Canada from its eligibility criteria.
The inflow of countless new applications added more competitiveness to the program, keeping individuals aged over 30 and those with very little or zero work and educational experience in Canada from getting selected. This adds uncertainty for people who hope to enter Canada through the Express Entry Program since only applicants with the highest points are selected. In addition to this, families are also confused about relocating and the schooling of children. Even highly skilled individuals who have sufficient international work experience and high English language scores are not sure if they would be selected for permanent residency under the Express Entry system’s 12-month pool period.
Moreover, the Provincial Nominee Programs also face a lot of uncertainty since applicants are selected after considering the specific economic requirements of the provinces. Plus, the requirements and the interests of provincial governments are always changing.
Therefore, the Start-Up Visa Program continues to gain popularity with time as more people from different countries, including UAE, keep applying for Canadian immigration through this program.
Dos & Don’ts of Hiring An Immigration Consultancy Firm
Before hiring an immigration consulting firm to help you with your Start-Up Visa Program application, you should learn about its track record and the different consultancy practices it adopts. This is because there are no guarantees that immigration firms have sufficient experience, industry knowledge, and relationships to help you. Plus, they could be indulged in unethical practices. Don’t consider an offer that seems too good to be true. For example, if a firm is trying to convince you to submit your immigration application under a specific program that is guaranteed to grant you permanent residency in Canada or a Canadian passport against a fixed amount of investment, don’t go for it without having it verified first. According to the Canadian minister, those who have entered Canada illegally are currently facing the consequences of breaking the rules. Plus, permanent residents who used the excuse of launching a new business in Canada to enter the country are likely to have their permanent residency status revoked.
A good immigration consulting firm is going to help you learn everything about Canadian immigration without any difficulties. Moreover, it will help you complete the application process in a seamless manner while guaranteeing your success in obtaining the desired status in Canada.
This is the end of today’s blog update. We hope you found this blog useful. Please don’t forget to support us by subscribing to our newsletter and sharing this blog with your friends and family on Facebook, Whatsapp, and Twitter.