Building and sustaining a successful business is the main goal of any entrepreneur, and arguably one of the most difficult. Having a clear vision of where you want your venture to go is only half the challenge; make your dream a reality and take the actions necessary to make it so. If you wish to start a successful business in Canada, the Federal Start-Up Visa Program brings a unique offer on the table.
The Unique Investor Visa: Canada's Federal Start-Up Visa Program
There are a few options available when it comes to business immigration in Canada, still, the Federal Start-Up Visa Program is the only one that allows entrepreneurs to start and run their companies without provincial restrictions (except for Quebec).
Like many countries, Canada is home to many diverse regions, all with their own unique economies. Finding the one that is right for you and your family is a decision that should be made with sound knowledge and from a broader scope you can aspire to.
The Canadian Start-up Visa Program will give you the freedom to choose where to live and make the most of your long-term business goals.
Provincial Nominee Programs vs. Federal Start-up Visa Program: The Difference is Clear for Entrepreneurs
Canada has long been viewed as a desirable destination for business immigration. The two popular categories of business immigration programs – available to entrepreneurs – are the Federal Start-Up Visa Program and the Provincial Nominee Program ("PNP"). The latter consists of a subset of programs that have unique requirements and are contingent on each Province’s jurisdiction.
These PNP’s are predicated on – among other elements – the location-bound nature (to their respective province), which can fall outside some entrepreneurs’ expectations depending on whether the flexibility of settlement is a decisive or secondary factor.
Canada’s Federal Start-Up Visa program is arguably the most beneficial option for entrepreneurs who plan to take an active role in growing their business. Started in 2013, this program was designed to help business-minded entrepreneurs immigrate and obtain PR in Canada faster and easier than PNP. It is best suited for individuals who are passionate about taking their creative idea and turning it into a profitable enterprise that will help grow the local economy and create competition in the industry.
What Makes the Canada Federal Start-Up Visa Program Unique?
In terms of location, Quebec is the only exception to the Federal Start-Up Visa program regarding provincial selection. Aside from this, qualified applicants are free to choose anywhere in Canada to start their business. From oil/gas sector-dominant Alberta to the highly skilled tech industry available in Ontario, the choice of where to establish your future enterprise is all yours.
Having this freedom is not the only incentive for an increasing number of business immigration candidates who are opting for the Federal Start-Up Visa: the speed of the processing time (for obtaining the PR) is second to none.
Direct PR is a luxury granted only to applicants of the Canada Federal Start-Up Visa Program. Qualified candidates need not worry about obtaining a temporary work permit or TRV (temporary resident visa) prior to establishing permanent residency.
Additionally, the streamlined IRCC processing time of this Federal Start-Up Visa Program means you will not need to wait for years to acquire PR. Unlike the standard immigration programs – that take anywhere from 48-60 months – you and your family could obtain PR, and your entrepreneurial idea could be flourishing as a full-fledged enterprise in one of Canada’s many highly desired cities, within in 12-16 months (from the starting point).
Are you an entrepreneur thinking of starting a business in Canada? Download a copy of our Canada Start-Up Visa Program Checklist before starting your next venture. It will help you determine if it’s the right fit for you and your family.