-Thank you so much, Mr. Slava, for coming to join us in our office.
-My pleasure.
-Yes, so we just want to have a brief discussion about the Startup Visa program. And if I may know, could you please explain to us and give us a brief overview about the Canadian Startup Visa? -Wonderful. Canada Startup Visa is a great program for anyone that wants to come to Canada to open up a business that is innovative, that their experience can support. The qualification for rent, the qualification for the business are being outlined directly in the Government of Canada website, but we guide our clients through to make sure that it's properly set up.
Qualification for the individuals, all they need to do is to provide to us their biometrics, meaning their passport information to make sure they have no criminality, to make sure they're in good health, and this is entire family migration, meaning husband, wife, kids, everyone in the family with kids dependent under 22 years old can come to Canada under this program.
The overview of the program is it's a multi-step process but we handle it for clients. Step number one, we create a proposal that Government of Canada designated organizations, meaning approving bodies will review, take a look at whether that is a good business for Canada.
In the last 5, 7 to 10 years, 100% of our clients have achieved that milestone of their businesses being reviewed and approved. Second milestone is for the client to apply directly for permanent residency. So with that letter of approval in hands, they can now go directly and apply for permanent residency. Of course, we handle that for them as well.
Permanent residency takes anywhere from 12 to 40 months for them to be approved, for them to land in Canada, start their businesses and start their lives.
-Okay, great. Thank you so much for that explanation. And could you please let us know - how does the Canadian start-up visa compare to the other immigration programs in Canada? What sets it apart from the other programs in Canada?
-Sure, there's a lot of different ways for people to be coming to Canada. We like Canada's start-up visa program because it is a federal program allowing them to move everywhere, English-speaking Canada, meaning everywhere except for Quebec. Outside of that, it has advantages over many of the other programs. So majority of the Canadian programs are meant to be score-based or merit-based, and it's a competition. Top 500 people, approximately, every month get selected based on the points that they have achieved.
Unlike in Sardinvisa, where you're not competing against others. But just to give you an example, if someone is a 25-year-old, they get 100 points towards their overall score. They need to score about 550, so 100 points for a 25-year-old is a big number. The same person with the same merits of education in English applies, that's a 45-year-old, they get zero points. So the chances of someone being 40, 45, 50, 60 years old qualifying for the other most popular program that gets hundreds of thousands of people through are very, very low.
That's where it leads them into the Startup Visa path because their age is not being held against them. Their level of English is a requirement much lower. So they can apply without being that young engineer, which majority of the other programs are using. Now, there are many other programs as well. So for that one, you would need to be consulting through a proper immigration consultancy, sitting down and reviewing, because there's a student path, there's a work path, there's a family sponsorship path.
There's many different ways to be coming to Canada. But what we know and what we have seen, if you're a 45-year-old plus, if you're a high net worth individual, if you're a manager style, if you're an investment style person and you want to come to Canada quickly, Startup Visa becomes the most appropriate way for them to be coming here.
-Okay, perfect. And if I may know, for example, you obtained a permanent residency to the Startup Visa program, What if the business fails? What happens to your permanent residency? Will it be revoked?
-It is one of my favorite questions because the Government of Canada received that question so many times. They put it as their top five frequently asked questions directly on their website. And it reads approximately in this way. What happens to my permanent residency if my business fails? And the answer directly from the Government of Canada written directly on their website says, If your business fails, it does not impact your immigration.
It doesn't impact your permanent residency, meaning even if the day after you arrive to Canada your business decides to pivot and do something else, if you want to shut it down, if you don't want to run the business and you want to run another business, it is completely fine. You can go ahead and do that instead of being stuck in a business that is no longer appropriate for you.
-Okay. Wonderful. And are there any restrictions for any nationalities?
-There's no restrictions. So, right now, looking at the past three years, the most common nationality that is applying would be people from Iran. So, close to 30% of the people. Previous to that, it was people from Vietnam. We have a lot of people from Russia, Ukraine, Belarus, lots of people from Nigeria. But after Donald Trump was elected at the end of last year, close to 50% of our clients are coming from America. Lots of Americans are coming to Canada now. It is a much better way for their lifestyle.
-Wonderful. Thank you so much. That's all for me.
-You are very welcome, thank you.
The European Court of Justice has handed down a historic ruling ordering Malta to completely end its citizenship-for-investment program. The judges ruled that the sale of EU passports was contrary to the principles of European law and undermined trust between member states.
From June 1, 2025 Uzbekistan will launch a “golden visa” program - residence permit for $250,000 without mandatory purchase of real estate. Investors will receive a residence permit for 5 years with the possibility to include family members (additional payment of $150,000 per person).
Russia and Oman have abolished visas for short-term travel! It is now possible to stay in the country for up to 30 days without a visa, but not more than 90 days per year. The agreement will enter into force 30 days after formal procedures.
