For those who have a great idea, but lack the funds to get started, Canada’s startup visa program may be the answer, the program is designed to attract entrepreneurs from around the world and provide them with funding and support.
With this new program in place, there are many opportunities for entrepreneurs to succeed in Canada, here are some ways that Canada’s startup visa program could change lives.
It is designed to help entrepreneurs from around the world to start a business and the program provides funding and support for entrepreneurs immigrating and allows them to stay in the country for up to five years while they build their business.
The benefits of this new program are twofold: it allows immigrants from all over the world to come and start a business in Canada, and it also helps Canadian businesses reach global markets.
Why is Canada’s Startup Visa Program Important?
Canada’s startup visa program is a great opportunity for entrepreneurs who want to start their business in Canada, the country is known for its inclusive and welcoming environment, making it the perfect place to start a business as well as providing entrepreneurs with the funding they need.
The program offers two different options: the entrepreneur can either apply for an open work permit or apply for a temporary resident visa at the border and with an open work permit, the entrepreneur can eventually apply for Canadian permanent residency status once they’ve been in Canada for 12 months and have started their business there.
With a temporary resident visa at the border, however, the entrepreneur will get immediate access to funding from the Canadian Microenterprise Development Centre that ranges from $5,000-$10,000 CAD, the funds are available as a loan that will be repaid after 48 months of successful business operation.
The Startup visa program also provides entrepreneurs with training workshops and other resources so they can hit the ground running when they get to Canada and they’ll also have access to mentors who will help them navigate everything that comes with starting their own business.
There are many opportunities available through this new program in Canada, but most importantly it could change lives by giving those without money a chance at starting their own business.
How the Startup Visa Program Can Change Lives
The is designed to attract entrepreneurs from around the world and provide them with funding and support, with this new program in place, there are many opportunities for entrepreneurs to succeed in Canada.
One of the first ways that the new visa program can change lives is by attracting talented entrepreneurs from outside of Canada.
One of the key requirements for eligibility on the program is a business idea, which means it’s aimed at people who have already started a company elsewhere but are looking for a better opportunity., however, an entrepreneur need not actually be running their company to qualify and those who have a great idea but lack the funds to get started may find this program an option.
Canada’s startup visa program also provides funding; successful applicants will receive $1 million CAD in exchange for a five percent ownership stake in their business, this is enough money to cover costs while an entrepreneur runs their business during its start-up phase or even afterward if they are able to secure additional investors or secure revenue through projects such as contract work or grants.