Syed Khan – 2 Aug 2021
Immigrants should have a minimum amount of capital under the Business visa for Canada. You cannot borrow this money from Ottawa as they cannot provide funds to immigrants under the start-up visa program.
Applicants must have sufficient cash to fund their Start-up in Canada. Receiving support from a trusted investor from your home country will require more funding to satisfy a Canadian investor.
It is better to work with a Canadian immigration lawyer, who is experienced in the Canadian start-up environment. He/she will make sure that you can address this important area to the best of your abilities.
Apart from capital & settlement funds required to finance your business, you will have to even cough up half of your salary to get a start-up visa. You have to sacrifice half of the pay that is required for household expenses such as: –
- Home
- Heating & other utilities
- Food
- Clothing
- Health insurance & transportation.
Applicants applying for a Business visa for Canada must be aware of the fact that most Canadians pay up to 50% of their income on housing & other utilities. A basic room in the affordable land areas in the country will cost you around $350/month. Anyway, rents can rise to $2500/month in a big city in Canada.
Apart from that, immigrants applying for a Canadian start-up visa should know about some other facts too. Provincial & territorial health programs won’t be able to cover the cost of all newcomers in Canada for three months.
Hence, in such a situation, this is what you can do to acquire funds for your Business visa for Canada-
- You must secure at least $200,000 of minimum investment from a designated Canadian venture capital fund.
- You have to secure at least $75,000 if the investment comes from a designated Canadian angel investor group.
If you are looking to Study, Work, Visit or Migrate to Canada, talk to I Can Help Immigration Services, Canada’s No.1 Immigration & Visa Company to get the best help you need
