Canadian Investor Visa – What You Didn’t Know
Canadian Investor Visa
As we are here to talk about the details of a Canadian Investor Visa, let us clarify beforehand that there is no such thing. The investor program before enabled people in business across the world to invest nearly $ 3 million into Canadian projects to get permanent resident permits. But today, thankfully, this program is discontinued, and in its place, more progressive entrepreneurial programs are implemented that empower talented foreign investors to start their dream of setting up and running up their own businesses.
In this blog, PS Immigration, a trusted consultant of Business Immigration in Ontario, Canada, will highlight the less-known facts about the Canadian Investor Program and how an individual can become a permanent resident of the country under this program.
A Deep Dive Into The Canadian Business Immigration
The Canadian Business Immigration can come in various forms – all depending on the type of venture the applying individual aspires to set up. There are a number of programs that allow applicants to become permanent residents. Below are some of the most popular options:
1. Purchasing or taking over an existing venture
When a business already established in Canada is put up for sale, foreign investors can buy them. It is also vital for the new owner to retain the existing staff from the business. In this way, after becoming the rightful owners, they can gradually become permanent residents of the country.
2. Initiating a new business
More often, investing applicants prefer to start their own ventures. In this case, it is essential to be mentioned that each of the provinces has their own set of rules in the areas of minimum investment. But the primary criterion for qualifying under this program is to create a permanent employment opportunity for at least one resident or citizen out of the applicant's immediate family.
3. Finding a new investor
For the investing immigrants, the idea is starting a new business in Canada and creating a plan for the company that will give birth to more employment opportunities. For these immigrating applicants, it sometimes becomes essential to search for an investor who can provide funding from a reputed organization and gradually become a permanent resident.
4. Buying a farm that exists
In Canada, the economy holds excellent earning prospects for Ranchers. The country makes it possible for immigrants to run profitable farms. The applicant has to prove that he or she is qualified, and once accepted, running the farm won't be a problem because Canada houses some of the best supportive communities. Farmers live happily in Canada. The hardworking summers give out decent profits when snow caps the country with freezing grounds.
Funding organizations look closely and review the profiles of each applicant. They carefully analyze and then judge which business to invest in. They will ask for detailed business plans and some might also ask for a business presentation. When the first round is clear, the business idea will be reviewed for an in-depth assessment, and they will conclude whether the person in a business can thrive in the Canadian market. Once the proposal is accepted, the applicant will get a letter of support that can strengthen the Visa application further.
Here's a short glimpse at the enlisted requisites of the investor visa program requisites:
-> They are showing that the applicant has enough funds to settle in Canada. The applicant must have a nominal amount to start and support new life in the country. Also, it is crucial to inform the authorities whether any family member is accompanying them into the country. If yes, then the nominal amount will change.
-> Meeting the language criteria is essential. The applicant has to take the CLB or Canadian Language Benchmark test and score a minimum 5 or higher in speaking, listening, writing, and reading. The applicant must effectively communicate in either English or French so that he or she can conduct business fluently within the community.
-> Must carry the letter of support mentioned earlier
Signing Off…
PS Immigration, a trusted Immigration Consultant in Brampton, Ontario, hopes this informative blog has been helpful enough for the readers and the aspirants who want to invest in the Canadian economy as thriving investors.