Canada

The Canada Start-Up Visa Program

Canada is among the world's wealthiest countries, with a high per-capita income and a leading trade market. The Canada Start-Up Visa Program is aimed at providing permanent residence to entrepreneurs and active investors in companies and expanding businesses that seek to establish a presence in Canada.

It is officially known as the Canada Start Up Class. But it is largely referred to as the Start-Up Visa program (SUV). The program targets innovative entrepreneurs and links them with private sector investors in Canada who will help establish their start-up business.

Candidates can initially come to Canada on a work permit supported by their designated Canada-based investor, before qualifying for permanent residence once their business is up and running.

There are three types of Private-Sector Investor

• Angel investor
• Venture capital fund
• Business incubator

Benefits of Residence by Investment in Canada

• High ranking in civil liberties, quality of life and economic freedom.
• High level of education and healthcare.
• Cultural, religious and ethnic tolerance.
• Low crime rates.
• High living standards and affordable housing.
• Open, dynamic economy that offers numerous opportunities.
• Free and democratic pluralistic society.
• Fiscal incentives and low operating costs for businesses.
• Visa-free/visa on arrival/e-visa travel to around 160 counties.
• Dual citizenship.

Requirements of the Canada Start-Up Visa Program

To obtain permanent residence in Canada, foreign entrepreneurs must propose an innovative, scaling start-up business, approved by a designated organization.

Choose one of following options

To gain Turkish citizenship, the processing time for your application is within 60 days, after which you can enjoy all the advantages that come along with it.

• Business incubation: No minimum investment required.
• Angel investment: Raise CAD 75,000 from an angel investment group, depending on a certain stage of the business.
• Venture capital fund: Raise CAD 200,000 from a venture capital fund, depending on a certain stage of the business.

Procedures and time frame of Canadian Residence by Investment

For all three options, additional fees apply for optional consulting, government fees, business structure, document processing, and immigration filing.

Investors are also required to

• Have English or French language proficiency at the CLB/IELTS 5 level.
• Be in good health.
• Have no criminal record.

Clients are required to prepare and submit a business proposal, which needs to be approved by a designated government business organization. Once approved by a business incubator, an angel investment group, or a venture capital fund (depending on the investment option chosen), the client receives a letter of support, allowing them and their family to apply for permanent residence. In order to maintain permanent resident status, physical presence for two out of five years (or 730 days) in Canada is required. The process can take upto 12 to 31 months.

Real Estate in Canada

Owning property in Canada can be profitable if you understand the Canadian tax laws that apply to real estate investments.

There is no residency or citizenship requirement for buying and owning property in Canada. You can occupy a Canadian residence on a temporary basis, but you will need to comply with immigration requirements if you wish to have an extended stay or become a permanent resident. Non-residents can also own rental property in Canada, but need to file annual tax returns with the Canada Revenue Agency (CRA).

Canadian laws are quite liberal when it comes to owning real estate. You don't need to be a Canadian citizen or even live in the country, and property taxes and interest expenses are tax- deductible. To invest profitably, however, you should be aware of the tax implications of every stage of the investment, from owning the property and inhabiting or renting it to eventually selling it.