Foreign nationals can visit Canada for a limited time to conduct business with Canadian companies holding a permit under the Business Visitor category. The successful applicants would be able to explore business prospects, engage with Canadian business counterparts, and attend trade shows. This permit, however, does not allow applicants to work in Canada.
If you are a non-Canadian and want to start a new business or company in Canada, then you can use the permit under the Canada Startup program.
It also offers permanent residency to qualified immigrants who start a business in the country. The other name for this program is the “Startup Class”.
Under this program, candidates can come to Canada on a work permit which is sponsored by their Canada-based investor and then apply for a permanent residence once their business is established in the country.
This program encourages immigrant entrepreneurs to develop their start-ups in Canada. Successful applicants can tie up with private sector investor in Canada to receive help on funding and guidance on running their business. The three types of private sector investors they can approach are:
This program for permit has specific guidelines on the ownership and shareholding requirements for a start-up.
Applicants for Canada Business Permit must have the support or sponsorship of a specified Canadian venture capital fund, angel investor, or business incubator to qualify.
The IRCC has designated specific venture capital funds, investor groups and business incubators to be part of this program.
Start-ups that succeed in getting through this program must be able to get the minimum investment required. If it’s from a venture capital fund, minimum investment should be USD 200,000. If the investment is from an angel investor group, the investment should be at least USD 75,000. Applicants must be accepted by a designated business incubator as a member of the business incubator program.
Thinking of expanding your business to Canada? Consider the Nova Scotia Nominee Program for a streamlined pathway to entrepreneurship and permanent residency. Find support from designated entities, meet eligibility requirements, and embark on a prosperous business journey in this picturesque Canadian province.
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