Canada is seen as an attractive country to invest in for many foreign nationals. The North American country is currently ranked as the 13th most competitive economy in the world, according to the World Economic Forum. The country is known to have one of the most educated workforces in the world, which is made up of both local and international employees.
With the taxation system and the immigration policies appointed by the government, many foreign investors have not only opened businesses and companies in Canada but also decided to move to Canada permanently.
Let’s have a look at the top 5 reasons to invest in Canada.
Why You Should Invest in Canada
1. More than once, Canada was ranked as the best country to do business in the world
Currently, Canada is ranked third for the best country to open a business in. This ranking is based on attributes that relate to how business-friendly the country is and how the country balances stability and expense.
2. Canada has one of the largest oil reserves in the world
Canada has the third-largest oil reserve in the world. The total Canadian oil reserves are estimated at 171.0 billion barrels, of which 166.3 billion barrels are found in Alberta’s oil sands. Overall, Canada has 10 percent of the world’s proven oil reserves.
3. It has one of the youngest and most talented workforces in the world, especially when it comes to innovation
Canada is home to the world’s largest tech hubs, attracting innovative talent from across the globe. The diverse and growing tech talent pool continuously attracts investments from global businesses, including the world’s 10 largest technology companies.
4. Canada has one of the soundest financial and banking segments in the world
According to the World Economic Forum, Toronto is the home of the soundest banking systems in the world and the headquarters of Canada’s four largest banks.
5. Canada is home to three of the most desired cities to live in the world
- Toronto – a technology sector that is directly competing with Silicon Valley and Seattle.
- Vancouver – third-largest film production location in North America.
- Calgary – a top destination for the oil and gas industry.
Entrepreneur and Investor Visa Options
Any investor wanting to start a business or invest in an existing business in Canada needs to apply for a Start-Up Visa. This program is designed to create new jobs and bring fresh ideas into Canada. Let’s take a closer look at what it is and how it works.
Start-Up Visa Program
The Start-Up Visa program (also known as ‘Investor Visa’) was created to assist international entrepreneurs to connect with private sector investors in Canada, who in turn will help them start their business venture in the country. If you’re a successful candidate, you’ll first enter Canada via a work permit that is supported by the designated organization. Once the new business is up and running, you’ll then be able to qualify for Canadian permanent residency.
All designated organizations need to be approved by the Canadian government. There are three types of private-sector investors:
- Angel investor.
- Venture capital fund.
- Business incubator.
Requirements for Start-Up Visa Program
The basic candidate requirements for the Start-Up Visa program are:
- Qualifying business;
- Commitment Certificate and Letter of Support from a designated entity;
- Proof that you have the money to support yourself and your dependents after you arrive in Canada; and
- Proficiency in English or French at minimum Canadian Language Benchmark level 5.
Receiving your letters of support from a designated organization can take an average of four to six months. After the letter is received, you can apply for permanent residency, which can take between 12 and 16 months. During this time, you’re able to apply for a temporary work visa to travel to Canada and set your business up.
To learn more about the Start-Up Visa program and how to apply, visit this page.
Invest in Canada
Have the top 5 reasons to invest in Canada made you want to invest? Don’t know where to start? There are several different Canadian visa options that’ll allow you to invest and even become a permanent resident in Canada. To learn more about these programs, visit the accredited immigration agent CanadianVisa.org.