One of the benefits of the SUV program is its fast-processing time. Chinese entrepreneurs who apply through the program can expect to receive their work permit in as little as four months. This quick turnaround means entrepreneurs can start building their businesses in Canada sooner and benefit from the country’s favorable business environment.

In addition to the work permit, the SUV program also allows the spouse of the applicant to apply for an open work permit, which means that they can work in Canada for any employer without the need for a job offer. This provides a great opportunity for spouses to gain valuable work experience and contribute to the family income while the entrepreneur builds their business.

Read more: New Amendments Allow Non-Canadian Work Permit Holders to Buy Homes More Easily

Moreover, the SUV program also enables the applicant’s child to apply for a study permit, allowing them to study at a Canadian educational institution at the same tuition fees as Canadian residents. This is a significant benefit, as international students typically pay much higher tuition fees.

Canada’s Start-Up Visa program has proven to be an attractive option for foreign entrepreneurs seeking to establish innovative businesses in Canada. To qualify for the SUV program, the applicant must secure a letter of support from a designated Canadian venture capital fund, angel investor group, or business incubator. As Canada looks to foster a thriving startup ecosystem, the SUV program can be crucial in attracting foreign talent and boosting economic growth.

The post Canada’s Start-up Visa Program: A Quick Route to Work and Study for Chinese Entrepreneurs and Their Families appeared first on Eterna Canada.

Canada offers two primary business immigration programs for entrepreneurs: the Canada Start-up Visa program and Provincial Nominee Programs (PNPs). The Canada Start-up Visa program targets innovative entrepreneurs looking to launch a start-up in Canada. To qualify, applicants must secure a letter of support from designated investors or business incubators. Successful candidates and their families can then apply for permanent residency.

On the other hand, PNPs are programs created by individual Canadian provinces to attract foreign entrepreneurs to start a business in a specific region. Each PNP has its own eligibility requirements, investment thresholds, and business proposal criteria. Generally, PNP programs require a substantial investment in the proposed business. However, some PNPs offer regional entrepreneur programs with lower investment requirements aimed at encouraging entrepreneurs to start businesses in less populated areas.

Read More: Start-Up Visa Applications Soar Despite Pandemic

2. Express Entry

Express Entry is the fastest and most sought-after immigration program in Canada, offering the possibility of obtaining permanent residency in as little as six months. With Canada aiming to welcome 500,000 newcomers by 2025, a significant portion of them will be selected through one of the three Express Entry streams: Federal Skilled Worker (FSW), Canadian Experience Class (CEC), or Federal Skilled Trades (FST).

To qualify for Express Entry, applicants must meet the eligibility criteria for one of the three federal streams. The Canadian government invites the highest-ranking candidates in the Express Entry pool to apply for permanent residency.

Although achieving the CRS (Comprehensive Ranking System) cut-off in the federal draw can be challenging, simply being in the pool of candidates can lead to a province nominating you for permanent residency.

Read More: Discover Canada’s Exceptional Education System: From Primary to Post-Secondary Education

3. Family Sponsorship

If a qualifying family member is a permanent resident or citizen of Canada, family sponsorship is an available option.

Multiple immigration programs are offered by Canada for permanent residents and citizens to bring their family members to the country. This year, family sponsorship programs will welcome over 100,000 new permanent residents.

Eligibility for family sponsorship is available to those whose spouse, child, or grandchild is a permanent resident or citizen of Canada.

The post Discover the Top 3 Ways to Immigrate to Canada in 2023! appeared first on Eterna Canada.

The growing importance of the Vietnamese community in Canada is reflected in local Vietnamese media, including publications such as Viet Nam Thoi Bao, Thoi Bao TV, and Culture Magazin, the first bilingual English-Vietnamese magazine in Canada. These publications provide a platform for Vietnamese Canadians to connect with their culture and community, which is vital for maintaining their heritage while integrating into Canadian society.

Vietnamese Canadians have made significant contributions to Canada’s culinary landscape, with phở becoming a popular food throughout the country. In Vancouver, many Vietnamese Canadians are self-employed, owning various businesses, stores, and restaurants throughout the city. In the Toronto area, there are 19 Vietnamese-owned supermarkets, and in Montreal, there are over 100 Vietnamese restaurants and hundreds of small-size manufacturers of different products. These businesses not only add to the economic growth of Canada but also enrich the cultural diversity of the country.

Vietnamese entrepreneurs have now been submitting the most applications for the Start-up Visa Program, launched in 2013, which provides an excellent opportunity to bring their skills and expertise to Canada and contribute to the country’s economic growth. Immigrant entrepreneurs who secure funding and support from designated organizations, such as venture capital funds, angel investors, and business incubators, can apply for permanent residency in Canada.

This program is a unique opportunity for Vietnamese entrepreneurs to start businesses in Canada and significantly impact the country’s economic growth. With the Start-up Visa Program, Vietnamese entrepreneurs can continue to bring their skills and expertise to Canada, adding to the country’s growth and diversity and showcasing the community’s entrepreneurial spirit and dedication to Canada’s economic growth.

The post Vietnamese Canadians Take Charge: Leading the Way in Entrepreneurship and Culture appeared first on Eterna Canada.

The amendments to the legislation have been welcomed by the Canada Mortgage and Housing Corporation (CMHC) as it intends to help newcomers put down roots in the country through home ownership and allow businesses to create jobs and add to the housing supply in Canadian cities.

Start-up visa essential applicants are among the groups who could benefit from the changes, as they can now acquire real estate property under less strict conditions. The Start-up Visa program is designed to attract innovative entrepreneurs to Canada and help them start businesses that create jobs for Canadians. The program grants a work permit to qualified entrepreneurs to startup in Canada while waiting for their permanent residence visa. 

Before the amendment, work permit holders were only able to purchase a residential property if they had worked in Canada for a minimum of three years within the four years preceding the purchase, filed all required income tax returns for a minimum of three of the four taxation years preceding the purchase, and had not already purchased more than one residential property.

However, under the new rules, work permit holders only need to have 183 days or more remaining on their permit or work authorization at the time of purchase and cannot already own residential property. This means the strict requirements previously in place have been removed, making it easier for start-up visa essential applicants in Canada under a work permit to invest in Canada’s housing market. 

Parliament initially passed the ban on foreign homebuyers in Canada in June 2022, and it took effect on January 1, 2023. The legislation aimed to make housing more affordable for Canadians and prevent commercial enterprises and individuals outside of Canada from buying residential properties there. While the ban remains in place for some, the recent amendments are expected to make it easier for certain non-Canadians to purchase residential property in Canada. The Canadian government hopes the changes will attract more innovative entrepreneurs and contribute to Canada’s economic growth. 

Advantages of The Canada Start-up Visa Program

The Canada Start-up Visa Program is a federal government program that aims to attract innovative entrepreneurs from around the world to Canada. The program has several advantages, including: 

• Access to Canadian market: The program offers entrepreneurs the opportunity to establish their businesses in Canada and gain access to the Canadian market. This can be particularly beneficial for entrepreneurs looking to expand their businesses or enter new markets. 
• Support from designated investors: The program requires that the applicant have a business idea that is supported by a designated investor, such as a venture capital fund or an angel investor group. These investors provide not only the required financial support, but also mentorship and support in developing and growing the business in Canada. 

• Faster processing times: The processing times for the Canada Start-up Visa Program are generally faster than other Canadian immigration programs. 
• Pathway to permanent residence: The program provides a pathway for entrepreneurs to obtain Canadian permanent residence, which can be particularly beneficial for those looking to establish long-term roots in Canada. 
• Access to Canadian resources: As a permanent resident of Canada, the entrepreneur will have access to Canadian resources such as education, healthcare, and social services. 
• Networking opportunities: The program provides entrepreneurs with the opportunity to network with other business leaders and entrepreneurs in Canada, which can be beneficial for developing business relationships and finding new customers. 

The post Unlocking the Door to Canadian Real Estate: New Amendments Allow Non-Canadian Work Permit Holders to Buy Homes More Easily appeared first on Eterna Canada.

One of the main issues for foreign-trained tech workers in the U.S. is the H1-B visa, which is capped at 85,000 visas for most occupations and turns away almost as many applicants as it accepts annually. The application process for the H1-B visa is lengthy, requiring multiple applications and extensive documentation, including proof that the foreign worker will be paid the same as an American worker. Given the limits for each country, the process can be even longer for immigrants from India and China.

In contrast, Canada requires only a three-year permanent-residency period before applicants can apply for citizenship, which is much faster than the decade-long process in the U.S. Canada’s Start-up Visa (SUV) Program allows foreign entrepreneurs to launch innovative businesses in Canada. According to data from the Canadian government, the number of SUV applications has tripled since 2019, with the most significant growth coming from countries such as Vietnam, Hong Kong, and China. Vietnamese applicants accounted for 36% of all SUV applications, followed by Hong Kong with 34% and China with 24%.

Business incubators received the most SUV applications among the designated organizations, followed by angel investors in steep growth. For the last seven years, over 70% of SUV applicants preferred business incubators the most, although we have witnessed substantial growth in the angel investor and venture capital fund applicants in recent years.

Canada’s tech industry is also benefiting from this surge in interest, with Vancouver emerging as the hottest tech market in North America in terms of high-tech job growth, jumping by 44% in the past two years. Toronto followed with a growth of 37%. With the Global Talent Stream, the International Mobility Program, and the Start-up Visa Program in place, Canada’s tech industry is well-positioned to continue attracting highly skilled workers and innovative entrepreneurs from around the world.

The post Talents from around the World Abandoning the US for Canada, Thanks to its Startup Visa Program appeared first on Eterna Canada.

The tradition of social housing in Ireland dates back to the 19th Century, and it has since become a well-established system for providing housing support to the disadvantaged. Today, local authorities are the largest landlords in the country, housing almost 100,000 people. Housing associations also provide social housing, targeting specific groups such as the homeless and older people.

To be considered eligible for social housing, prospective tenants must meet a range of requirements. Firstly, they must be either Irish citizens or have the right to remain in the State long-term. Applicants must also be able to demonstrate a need for social housing, with priority given to those who are homeless, living in overcrowded accommodations, have a medical condition made worse by their living situation, or are in a vulnerable or violent situation.

Prospective tenants must also meet income thresholds and provide proof of income, whether from employment or social benefits. Any social benefits payments may be discounted. Finally, applicants must confirm that they have no alternative housing available to them. For example, a property owned by an ex-spouse would not be considered an alternative.

The process of getting social housing can be lengthy, with two periods of waiting. The first period is after submitting the application, and the second is after being approved. The housing association or local authority has 12 weeks to respond to an application, but this period can be extended if more information is needed. If the application is approved, the applicant is placed on a waiting list, and each local authority has its own way of prioritizing applicants.

When a social housing property becomes available, the local authority reviews the allocation scheme and decides who will receive housing based on the priority of the applicants. If successful, the council will offer a tenancy agreement. Since there are usually many applicants, tenants will only have a small window to accept the social housing offer before it is offered to someone else.

Rent for social housing is linked to income, with low earners paying lower rents. If an individual’s income increases, their rent will also rise.

Eterna International’s commitment to assisting clients with alternative project options, we are actively promoting the GCI ICAV fund, an innovative fund designed to raise capital from investor immigrant programme (IIP) applicants to finance the construction of new social housing in Ireland. The GCI ICAV fund is an excellent opportunity for foreign investors looking to obtain Irish residency while supporting a worthy cause. Eterna is proud to offer this exciting opportunity to its clients and to be part of a solution to Ireland’s housing crisis.

The post Unlocking the Door to Affordable Housing: Exploring Ireland’s Social Housing System appeared first on Eterna Canada.

The UCD study also explores the history of social housing in Ireland, revealing that the country used to follow similar models to those in Denmark and Austria. In the past, local authorities borrowed loans or raised bonds to finance social housing, and rents were linked to the cost of provision. The study notes that selling off council housing and abolishing rates in the 1970s caused major problems for the sector. However, the research suggests that returning to the past model could be a potential solution to the current crisis.

To address the current housing crisis, the UCD study suggests that Ireland should stop selling off council housing and increase the overall level of social housing to provide 5,000 units per year. The study also advocates for local authorities to keep more of their local property tax to help fund social housing. The study acknowledges that solving the housing crisis will not be easy but believes that Ireland can find a way forward by looking to the past and to successful models in other countries.

Another solution is the Ireland Immigrant Investor Programme. Eterna International is actively promoting the GCI ICAV fund as a solution to Ireland’s social housing shortage. This innovative fund raises capital through the investor immigrant programme (IIP), allowing foreign investors to obtain Irish residency (Stamp 4) while supporting a worthy cause: the development of much-needed social housing in Ireland. Eterna International takes pride in offering this opportunity to its clients and being part of a solution to Ireland’s housing crisis.

The post Irish Immigrant Investor Programme: A Solution to Ireland’s Social Housing Shortage appeared first on Eterna Canada.

One of the key differences between good investment projects and risky ones is their underlying assets. Social housing and primary care centers are typically good investment projects because they are essential services that have a stable demand. In contrast, nursing homes and hotels are considered risky because they are discretionary services that can be impacted by changes in the economy or tourism industry. 

Investing in Social Housing and Primary Care Centers 

Social housing and primary care centers are considered good investment projects because they address the basic needs of the population. Social housing provides affordable housing options for low-income families, while primary care centers offer medical care to the community. Both are essential services that are always in demand, regardless of economic conditions. Additionally, the Irish government has been actively encouraging investment in social housing and primary care centers as part of its efforts to address the housing and healthcare crises in the country. 

Investing in social housing and primary care centers can also provide investors with a steady stream of income. Social housing is typically managed by the government or approved non-profit organizations, ensuring that rent is paid on time and vacancies are minimized. Primary care centers often have long-term leases with the government or healthcare providers, ensuring a stable income for investors. 

Investing in Nursing Homes and Hotels 

Investing in nursing homes and hotels may seem like an attractive option for immigrant investors seeking a profitable return on investment. However, these projects carry a significant amount of risk, particularly in the context of the Irish Immigrant Investor Programme. 

One of the primary risks associated with investing in nursing homes is that their economic model is heavily reliant on high occupancy rates to guarantee a return on investment. A nursing home’s success is therefore dependent on the ability of the operator to secure a consistent and high level of occupancy. The nursing home operator must have experience in managing the day-to-day operations of the facility and must be able to provide high-quality care to residents. 

Investing in hotels carries similar risks. Hotel occupancy rates can be affected by a variety of factors, such as competition, changing travel trends, and economic downturns. A hotel operator must have the skills and experience to manage these risks and ensure the long-term profitability of the project. 

Choosing the Right Investment Project 

Choosing the right investment project is crucial to the success of an investor’s residency application and financial portfolio. Good investment projects, such as social housing and primary care centers, provide stable returns and contribute to the well-being of the community. In contrast, risky investments, such as nursing homes and hotels, are vulnerable to economic shifts and poor management decisions. 

Investors should carefully consider the underlying assets and management of investment projects before making a decision. It is important to seek advice from professionals with experience in the Irish real estate and investment markets. 

The post Investing in the Irish Immigrant Investor Programme: The Importance of Choosing the Right Investment Project appeared first on Eterna Canada.

One of the primary advantages of the investment fund option is the diversification of the portfolio. Unlike the enterprise option, which requires a significant investment in a single Irish enterprise, the investment fund option allows for investment in a diversified portfolio of assets. This diversification helps to spread the risk of investment, reducing the likelihood of a significant loss in any one asset. 

Moreover, the investment fund option provides investors with access to professional management of their investment portfolio. This means that investors can benefit from the expertise of experienced investment managers, who work to maximize returns while minimizing risk. In contrast, the enterprise option, which is typically focused on real estate development, may not have the same level of investment expertise. Without professional management, investors may be exposed to higher risks and lower returns. By choosing the investment fund option, investors can have peace of mind knowing that their investment is being managed by professionals with a track record of success in the industry. 

The investment fund option for the Irish Immigrant Investor Programme offers several advantages over the enterprise option, including diversification of the portfolio, professional management, and a more flexible investment horizon. For those seeking long-term financial stability, the investment fund option is the clear choice. 

The post Why Diversification Matters: Choosing the Investment Fund Option for the Irish Immigrant Investor Programme appeared first on Eterna Canada.

The Letter of Support is a formal commitment from a designated organization, such as a venture capital fund, angel investor group, or business incubator, to invest in your business or provide mentorship and support. It demonstrates that the organization has validated your business idea and is committed to helping your business grow in Canada.

To be eligible for the SUV program, your designated organization must be officially recognized by the Canadian government as having the ability to assess the viability of start-up business ideas. The Letter of Support should include important information such as a clear statement of the support being provided, the designated organization’s name, contact information, and any relevant details, as well as the amount of investment or support being provided, and the signature of the authorized representative of the designated organization.

It’s crucial to remember that the Letter of Support plays a critical role in the application process, and without it, you may not be eligible for the Start-up Visa program. That’s why it’s crucial to have a trusted partner who can help you secure this document and provide competent immigration advice to help you succeed. At our company, we offer innovative solutions, transparent services, and long-lasting relationships to ensure your SUV application is successful. Trust us as your advisor and let us help you secure a bright future in Canada.

The post Maximizing Your Start-up Visa Application Success: The Key Role of the Letter of Support appeared first on Eterna Canada.