The Canadian government is broadly focused on buoying up the culture of entrepreneurship in the form of new businesses/start-ups in Canada by attracting foreign investments and adding varied skill sets to its professional demography. The government has rolled out a well calibrated immigration programme with the aim to strengthen foreign investment sentiment and attract skilled professionals or entrepreneurs from across the world.
The programme is principally compiled to build a platform that allows flourishing of small and medium scale enterprises which are based on conceptually distinctive and sustainable business ideas, thus leading to the creation of more jobs and bolster the skill intensive industries like information technology, to become at par with the standards of the US Silicon Valley.
Furthermore, this immigration programme awards an exclusive opportunity to interested individuals to become a part of such businesses/start-ups in Canada and acquire Canadian permanent residency (PR).
Interested individuals as applicants are required to provide or support any innovative business idea and invest in any business/start-up which is based on such conceptually distinctive and sustainable business idea. Under this programme, the government allows up to five applicants to apply for immigration under one start-up business. These businesses/start-ups are backed by one of the government-designated business support organisations and applicants are selected and clubbed together on the basis of their profiles by such government-designated business support organisations.
This programme directly grants Canadian permanent residency status to the main applicant along with their dependents that include spouse and children under the age of 22.
Once the applicants acquire permanent residency then they have all the rights and benefits of social security, healthcare, education and employment.
Under this programme, unlike other province-backed immigration programmes, the applicants have the flexibility to settle down and obtain job or do business in any province of Canada upon attaining the PR status. This is a federal PR programme and doesn’t restrict the applicants to any particular province or region of Canada.
The most unique feature of this programme is that it enables the applicants to retain their permanent residency irrespective of success or failure of the business/start up. Even if their initial Canadian business is unsuccessful, individuals granted permanent residency through this programme, can still retain their PR status. The average processing time under this programme is 12 to 16 months.
Considering these wide arrays of merits attached to this immigration programme, it is certainly one of the most congenial and propitious immigration options available at the moment.