Every year, Canada welcomes many new immigrants, including those from the United Arab Emirates (UAE). They want to explore better career opportunities, which is especially helpful if they plan on establishing their own business.
If you are an aspiring business owner who wants to move from the UAE to Canada, you can use this article as your guide. We will help you learn more about the Business Immigration Program and how you can apply for it.
What Is the Business Immigration Program?
Canada offers business immigration programs to attract investors and entrepreneurs to move to the country. At the federal level, you can apply for the Self-Employed Program, Immigrant Investor Venture Capital (IIVC) Pilot Program, or Start-Up Visa Program.
What Is the Start-Up Visa Program?
The Start-Up Visa program targets entrepreneurs and connects them with private sector investors in Canada who can help build their start-up businesses. This type of program offers Canadian permanent residence to qualified immigrant entrepreneurs.
Qualifying for permanent residence can be challenging. If you are a candidate, you can initially come to the country on a work permit supported by your Canada-based private sector investor. Afterward, you can receive your permanent resident status once your business is up and running. To be eligible for the start-up visa program, you need the following:
- Qualifying business
- Commitment Certificate
- Letter of Support from a designated entity
- Sufficient unencumbered, available, and transferable settlement funds
- Proficiency in English or French at minimum Canadian Language Benchmark Level 5
What Is A Start-Up Visa Program Designated Entity?
A designated entity is a Canadian private sector. It can be an angel investor, venture capital fund, or business incubator. They should meet the following criteria:
- A designated business incubator should accept you into its business incubator program.
- A designated angel investor group should invest at least 75,000 dollars into your qualifying business. You can qualify with two or more investments from angel investor groups totalling 75,000 dollars.
- A designated venture capital fund should invest at least 200,000 dollars into your qualifying business. You can qualify with two or more commitments from designated venture capital funds totalling 200,000 dollars.
How Can I Qualify for the Start-Up Visa Program Business Ownership?
To qualify for the start-up visa program business ownership, you should meet the following requirements:
- Your intended business must be incorporated and operating in Canada.
- You should own at least 10 percent of the voting rights in the corporation.
- No other person can hold 50 percent or more of the voting rights in the corporation.
Can I Transition From Temporary to Permanent Residence?
More and more immigrants who are coming to Canada as temporary residents are becoming permanent residents. This option is popular among candidates from the UAE who do not immediately qualify for permanent residence.
You can transition from temporary to permanent resident status. Your work permit will be issued through the Temporary Foreign Worker Program, International Mobility Program, and International Experience Canada Program. To learn more about the application process, feel free to reach out to immigration consultants.
Moving to Canada from the UAE and establishing your business can provide you with the comfortable and successful life you have always wanted. Fortunately, you can finally turn your dream into reality by applying for the Business Immigration Program and remembering the information mentioned in this guide. If you have further questions or need assistance, don’t hesitate to seek our immigration services in Toronto.
Make Bright Immigration your go-to immigration agency for top-notch immigration services. If you’re looking for professional help from a trusted firm, please contact us at email@example.com or call 1-888-404-8472.