Federal Investment Program
If you have a high net worth, you may be eligible to apply through the Federal Investment Program. The program allows you to establish your own enterprise and immigrate to Canada. Since you are a potential investor who can add to the economic development of the country, Canada has interest in you. To be eligible under this category, you must have a minimum of $1.6,000,000 CAD as you net worth. Moreover, you pledge that you will invest at least $800,000 CAD.
The Citizenship and Immigration Canada oversees your investment. This is indeed one of the most important categories serving for the economic development of the country. The invested amount creates new jobs and thus helps the local, as well as, federal economies grow.
Once you have signed the agreement, CIC will send you a confirmation, with instructions on how to submit the amount. You are required to deliver the amount within 30 days. After you have paid the amount, you’ll be given the permanent residence. The amount invested is only taken by the money to generate other sources of income for local residents. You will receive your investment back in five years. However, you will not receive any kind of interest over the invested amount.
In order to be eligible, as the applicant, you must
- Prove your business venture or idea is supported by a designated organization
- Meet the language requirements
- Meet the education requirements
- Have sufficient settlement funds
Before you apply for the start-up visa, you must convince a designated organization to support your business idea. If the designated organization supports your business idea, it will give you a Letter of Support.
You must include your Letter of Support with your application as proof that a designated organization supports your business idea.