Canada Archives - Eterna Canada https://eternainternational.com/ca/category/canada/ Global Immigration Consultancy Tue, 01 Aug 2023 09:41:34 +0000 en hourly 1 https://wordpress.org/?v=6.6.4 https://eternainternational.com/ca/wp-content/uploads/2022/07/cropped-eterna-favicon-1-32x32.png Canada Archives - Eterna Canada https://eternainternational.com/ca/category/canada/ 32 32 What Benefits does Canadian Social Welfare System Offer to Families with Children? https://eternainternational.com/ca/canadian-social-welfare-system-offer-to-families-with-children/ Tue, 01 Aug 2023 09:40:38 +0000 https://eternainternational.com/ca/?p=8580 Canadian social welfare system offers financial help and support programs for citizens through federal, provincial, and territorial systems. A central pillar is extensive benefits targeting families with children. Robust child and family benefits reflect Canada’s commitment to giving kids the best possible start in life. The key component is the benefits for families with children: […]

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Canadian social welfare system offers financial help and support programs for citizens through federal, provincial, and territorial systems. A central pillar is extensive benefits targeting families with children. Robust child and family benefits reflect Canada’s commitment to giving kids the best possible start in life.

What Benefits does Canada's Social Welfare System offer to Families with Children?

The key component is the benefits for families with children:

1.  Canada Child Benefit (CCB)

The Canada Child Benefit is a tax-free monthly payment made to eligible families to help with the costs of raising children under 18 years of age. The CCB can provide over $500 per month per child based on the family’s income and number of children. Low and middle-income families receive the most from the program.

The amount of CCB depends on the adjusted family net income and number of children. For example, for the 2022-2023 benefit year, the maximum annual CCB is $6,997 per child under age 6 and $5,987 per child aged 6 through 17. The benefit starts being phased out at a family net income of around $32,000.

The CCB provides substantial financial assistance directly to families monthly. It helps lift many lower-income households out of poverty and eases the financial burden of raising kids for middle-class families as well. The CCB is an important pillar of the Canadian social safety net for families.

 

2.  Canada Child Disability Benefit

The Canada Child Disability Benefit provides extra tax-free assistance to qualified families caring for children under age 18 with severe and prolonged impairments in physical or mental functions. The CDBC can provide up to $3,173 ($264.41 per month) per eligible child.

To receive the CDBC, children must be eligible for the disability tax credit. Parents must provide supporting documentation confirming the child’s eligibility. Children may qualify if they have significant restrictions in seeing, speaking, hearing, walking, feeding/dressing, mental functions, and life-sustaining therapy.

The CDBC supplements the Canada Child Benefit to help address the extra costs of caring for children with disabilities. It contributes toward expenses like specialized care, therapy, transportation, educational support, medical equipment, and home modifications. This important benefit helps relieve some of the emotional and financial strain for Canadian families caring for children with disabilities.

 

3.  Child Care Expense Deduction

The Child Care Expense Deduction allows eligible parents to deduct childcare costs from their overall income when filing taxes. This provides tax relief to help offset the costs of supervised care for children under age 16 or dependent relatives with mental/physical impairments.

To claim the deduction, receipts must be provided for eligible childcare expenses such as daycare, day camps, boarding schools, nanny services, and certain other care. There are limits based on the type of expense. For example, in 2022, the maximum federal deduction for children under 7 is $8,000 per year while the limit for children 7-16 is $5,000.

The Child Care Expense Deduction provides a way for working parents to recover some of the substantial costs required for supervised care while they are employed. It encourages parents, especially mothers, to remain in the workforce while raising young children. The deduction is an important tax-based benefit that reflects the childcare needs of modern families.

 

4. Maternity and Parental Leave

Maternity and parental leave in Canada provides income support through the Employment Insurance system to new parents taking time off work. There are federal standards for maternity and parental leave, with additional provincial benefits in some regions.

For maternity leave, biological mothers can receive up to 15 weeks of EI benefits equal to 55% of their average weekly earnings up to $638 per week. For parental leave, biological or adoptive parents can split up to 40 weeks of benefits. Combined, new parents can access up to 55 weeks of partially paid leave.

Canada’s maternity and parental leave policies enable mothers and fathers to take substantial time off work to care for a newborn or adopted child. It promotes parent-child bonding while providing income assistance during the leave. The policies support women’s labor force participation and gender equality. Leave benefits are an important social program helping new parents.

5. Provincial Child Benefits

In addition to the national Canada Child Benefit, many provinces and territories in Canada offer supplemental child benefits to support lower-income families with the cost of raising children. These provincial child benefits are provided through tax-free monthly payments.

For example, the BC Family Bonus provides up to $1,600 annually for a child under 6 while Ontario’s Child Benefit provides $1,472 per child. Similarly, New Brunswick has the New Brunswick Child Benefit and Quebec provides a Child Assistance payment. Rates and eligibility vary across provinces.

Provincial child benefits help address child poverty by targeting money for disadvantaged families in need. They top-up federal child benefits. The combined federal and provincial supports recognize the challenges low-income households face in caring for and providing for children.

 

6. Healthcare

Under Canada’s national health system, all children receive essential medical services free of charge through provincial and territorial health insurance plans. This includes visits to family doctors, pediatricians, hospitals, and emergency care.

Preventive care like immunizations, well-baby checkups, and physical exams are fully covered. When children have acute or chronic health issues, the plans pay for necessary doctor and hospital care. Critical procedures, surgeries, and therapies are covered when medically required. No child is denied or delayed care in Canada due to inability to pay.

Canada’s universal healthcare system ensures that all children can access health services to stay well. By removing financial barriers, children get the physical and mental healthcare they need for a strong start in life. Healthcare is considered a fundamental human right.

 

7. Prescription Drug Coverage

While Canada has universal health coverage, prescription medications are not part of the basic national plan. However, provinces and territories provide supplementary drug plans that assist children in low-income families.

For example, Ontario covers 100% of prescription costs through the Ontario Drug Benefit program for kids under age 25 in families on social assistance or with high prescription costs relative to income. Other provinces have similar plans, though eligibility rules and specifics vary.

These public drug plans ensure children in financial need can get necessary medications for acute and chronic conditions regardless of cost. They prevent vulnerable families from having to choose between paying for prescriptions or other necessities like food and rent. Access to medicines helps keep kids healthy and active.

 

8. Dental and Vision Care

Some Canadian provincial programs help cover dental and vision care for children in low-income households who could not otherwise afford these services. This includes basic dental checkups and procedures as well as prescription eyeglasses.

In Ontario, the Healthy Smiles program provides free basic dental services for qualifying children up to age 17. British Columbia’s Healthy Kids program covers dental and vision for children under 19 in families receiving income or disability assistance. Other provinces have similar programs.

These dental and vision benefits recognize these services as essential for health, not optional. They aim to support healthy development and school readiness by providing access to dental and vision care for disadvantaged children who need it most.

Canada’s social welfare programs and benefits for families reflect the nation’s commitment to supporting parents in raising healthy, well-educated children. The system aims to reduce financial barriers to essential needs like childcare, medical care, and education.

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Canada Start-Up Visa Program’s Approval Rate Growth 114% Monthly https://eternainternational.com/ca/canada-start-up-visa-programs-approval-rate-growth-114-monthly/ Mon, 31 Jul 2023 03:30:51 +0000 https://eternainternational.com/ca/?p=8576 Canada’s ambitious Immigration Levels Plan targets 465,000 new permanent residents in 2023. Recent IRCC data reveals immigrants’ amount is rapidly increasing. Overall immigration is surging, with 220,810 newcomers landing in the first 5 months of 2023. The Canada Start-Up Visa (SUV) program represents 114% growth month-over-month. In May 2023, Canada welcomed 75 new permanent residents through […]

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Canada’s ambitious Immigration Levels Plan targets 465,000 new permanent residents in 2023. Recent IRCC data reveals immigrants’ amount is rapidly increasing. Overall immigration is surging, with 220,810 newcomers landing in the first 5 months of 2023. The Canada Start-Up Visa (SUV) program represents 114% growth month-over-month. In May 2023, Canada welcomed 75 new permanent residents through the SUV program, surpassing 35 in April.

In the first 5 months of 2023, SUV brought 250 newcomers, up 4.2% over the same period last year. At this rate, SUV could see 600 new permanent residents by the end of this year, exceeding last year’s 575 cases. Since the speech from the former immigration minister Sean Fraser announced earlier, the SUV program target is to increase to 3,500 PR approval quotas in 2023. Given accelerating uptake, we can expect the monthly number of SUV permanent residents to continue rising through the rest of 2023 and into 2024.

Canada Start-Up Visa Program’s Approval Rate Growth 114% Monthly

Applications supported by venture capital, angel investor groups, and business incubators with committed capital will be prioritized, as well as those backed by business incubators that are members of Canada’s Tech Network.

The IRCC is going to be looking at, whether applicants have been nominated by a designated incubator that’s being part of this new program. They’ll also be going to put a limit on the number of new candidates that certain designated entities can put forward so IRCC can reduce the pressure on the system and have more reliable timelines going forward.

The data also shows that British Columbia and Ontario remain the hot spots, receiving 105 and 110 newcomers through SUV so far this year. Alberta, Manitoba, and Nova Scotia are also seeing some uptake.

Why British Columbia or Ontario is Popular with startups? 

  • Established start-up ecosystems – Vancouver and Toronto have vibrant start-up communities with incubators, accelerators, mentors, funding opportunities, and a critical mass of talent. This provides an attractive environment for new immigrant-led ventures.
  • Access to capital – British Columbia and Ontario have the most active venture capital markets in Canada. This makes it easier for immigrant founders to access investment and funding to launch and scale companies. Proximity to investors is key.
  • Talent pools – As major tech hubs, British Columbia and Ontario have excellent access to skilled workers that startup founders need to build their teams. Abundant talent in areas like engineering and design is a valuable resource.
  • Major cities – Vancouver and Toronto are global cities with immigration infrastructure, diversity, and connectivity. Immigrant entrepreneurs are drawn to the cosmopolitan lifestyle, culture, and amenities.
  • Government support – Provincial nominee programs in BC and Ontario actively promote and facilitate immigrant entrepreneurship and start-up growth, including incentives and faster visa processing.
  • Universities – With top schools like UBC, the University of Toronto, and Waterloo, immigrant graduates have opportunities to further develop business ideas and connect with mentors.

As the IRCC ramps up immigration to thrive in its economy, the Canada Start-Up Visa is proving an increasingly popular pathway for immigrant entrepreneurs. Expect the visa’s momentum to continue driving growth in Canada’s start-up ecosystem. So, it’s predictable that there’re more new permanent residents who will be Canadian newcomers in these future months.

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To obtain One of the Most Powerful Passports in the World, Consider the Canada Start-up Visa https://eternainternational.com/ca/obtain-powerful-passport-in-the-world-canada-start-up-visa/ Fri, 28 Jul 2023 02:13:46 +0000 https://eternainternational.com/ca/?p=8565 The Canadian passport is one of the most powerful passports in the world, offering visa-free access to a large number of countries across the globe. This means Canadian passport holders can access 184 destinations around the world without needing a visa in advance. The visa-free access offered by the Canadian passport saves time, cost, and […]

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The Canadian passport is one of the most powerful passports in the world, offering visa-free access to a large number of countries across the globe. This means Canadian passport holders can access 184 destinations around the world without needing a visa in advance.

The visa-free access offered by the Canadian passport saves time, cost, and hassle for frequent Canadian travelers. It also opens up a wide range of travel destinations and possibilities.

With their powerful passports, Canadians can easily explore more of the world. Canada is part of the Five Eyes intelligence alliance, which makes Canadian travelers more secure and welcomed abroad.

To obtain One of the Most Powerful Passports in the World, Consider the Canada Start-up Visa

The Countries Canadians Can Visit Visa-Free

 

Europe – Canadians can visit all 26 countries in Europe’s Schengen area without a visa. This includes popular destinations like France, Germany, Italy, and Spain. Besides the Schengen area, Canadians can also visit Croatia, Cyprus, Ireland, and the UK visa-free.

Asia – Some of the top Asian destinations like Japan, South Korea, Singapore, Hong Kong, and Malaysia are visa-free for Canadians. Other countries include Armenia, Indonesia, the Philippines, and Thailand.

Americas – Canadians enjoy visa-free entry into all North American and South American countries except a few like Bolivia, Suriname, etc. Major visa-free destinations include the USA, Mexico, Brazil, Argentina, and Chile.

Africa – Canadians can visit Egypt, South Africa, and other southern African countries without a visa. Visa-free access is also available to Tunisia, Morocco, and other North African nations.

Oceania – Canadians can travel visa-free to Australia, New Zealand, and many South Pacific Island countries.

 

 

Canada has long held a reputation as one of the most immigrant-friendly nations, reflected by its simple visa policies and thriving multicultural society. The country aims to welcome over 400,000 new permanent residents in 2022 alone. But new Startup Visa improvements are further boosting Canada’s appeal and accessibility.

As Sean Fraser announced, the number of annual Startup Visa spots has tripled to 3,500 for 2023, with more increases planned. Applicants also now get 3-year open work permits, allowing full families to gain working rights and income flexibility while establishing ventures. Applications backed by major investors see expedited processing too.

These enhancements provide immigrant entrepreneurs with unmatched support to build innovative companies and futures in Canada. With resource-rich provinces hungry for skills to fuel growth, from technology to healthcare, Canada actively empowers newcomers to drive key industries. With enhanced visas and welcoming communities, Canada facilitates immigrant integration and success. Its passport gives holders easy access to global opportunities, which the revamped Startup Visa will make more accessible than ever for aspiring international entrepreneurs.

Canada’s immigrant-friendly reputation is better than ever thanks to groundbreaking improvements like the expanded Startup Visa. For those looking to launch global ventures or simply seek a better life abroad. Its passport is a powerful asset opening doors, to which the Start-up Visa now grants more innovators and families access.

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Trudeau Announces Cabinet Shuffle, Names Marc Miller as New Immigration Minister https://eternainternational.com/ca/trudeau-announces-cabinet-shuffle-names-marc-miller-as-new-immigration-minister/ Thu, 27 Jul 2023 07:14:16 +0000 https://eternainternational.com/ca/?p=8552 On July 26th, Prime Minister Justin Trudeau announced major changes to his cabinet in preparation for the next election. A key change was appointing new ministers for the immigration and housing portfolios. Marc Miller is Canada’s new immigration minister, replacing Sean Fraser who will take on housing. Miller is a Member of Parliament from Quebec who previously served as Minister of Crown-Indigenous Relations. […]

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On July 26th, Prime Minister Justin Trudeau announced major changes to his cabinet in preparation for the next election. A key change was appointing new ministers for the immigration and housing portfolios. Marc Miller is Canada’s new immigration minister, replacing Sean Fraser who will take on housing. Miller is a Member of Parliament from Quebec who previously served as Minister of Crown-Indigenous Relations.

Marc Miller is New Immigration Minister
Prime Minister Justin Trudeau announced major changes to his cabinet in preparation for the next election. (Cr. Twitter@CanadianPM

Marc Miller was first elected as a Member of Parliament in 2015 representing the Montreal riding of Ville-Marie—Le Sud-Ouest—Île-des-Soeurs. He was born in Montreal and has law and political science degrees from Montreal and McGill Universities. Before entering politics, Miller worked as a lawyer in Montreal for over 15 years, specializing in indigenous law.

Marc Miller was first elected in 2015. Before politics, he was a lawyer and served in the military. 
Miller was first elected in 2015. Before politics, he was a lawyer and served in the military. (Cr. Facebook@Marc Miller)

As immigration minister, Miller will oversee policies and programs handled by Immigration, Refugees and Citizenship Canada. This includes setting immigration levels, which have increased significantly under Trudeau.

Trudeau has made immigration a priority, raising annual immigration from 250,000 to over 400,000. In the 2023–2025 Immigration Levels Plan, Canada aims to welcome from 410,000 to 505,000 new permanent residents in 2023, from 430,000 to 542,500 in 2024, and from 442,500 to 550,000 in 2025 to offset Canada’s aging population.

The shuffle provides a chance to refresh policies. In 2021, Trudeau tasked Fraser with priorities like boosting levels, improving processing, reforming Express Entry, reuniting families, and promoting French immigration.

(Cr. Twitter@CanadianPM

On housing, Sean Fraser replaces Ahmed Hussen as Canadians face an affordability crisis. Experts have praised the choice, calling Fraser an effective communicator needed to compete with opposition messaging. Fraser said immigration can help address housing supply issues by providing construction labor. He endorsed continuing to build more homes rather than limiting newcomers.

Sean Fraser became Canada’s immigration minister in October 2021 under Prime Minister Justin Trudeau’s Liberal government. One of Fraser’s first major initiatives was announcing plans in February 2022 to accept over 430,000 new permanent residents in 2022, setting an ambitious new target for immigration to Canada. Fraser stated these high immigration levels would help address Canada’s labor shortages and support economic growth.

In April 2022, Fraser introduced new policies to make it easier for international students graduating from Canadian institutions to obtain permanent residence in Canada. Measures included eliminating the requirement to have a job offer to apply for permanent residence and expanding eligibility for the Canadian Experience Class immigration program. Fraser said these changes would help retain skilled graduates in fields where Canada needs workers.

Fraser also took steps to address excessive processing times and backlogs in Canada’s immigration system. In May 2022, he announced a 6-point plan to improve application processing including hiring over 1,250 new staff, digitizing applications, and reducing red tape. By June 2022, Fraser reported progress in reducing wait times for some permanent residence applications by up to 50%. Nonetheless, long application processing times remained an ongoing challenge.

(Cr. Twitter@CanadianPM

At the technology conference Collision 2023, Fraser revealed further changes to strengthen the Start-Up Visa Program as part of Canada’s Tech Talent Strategy. This included increasing the annual quota from 1,000 to 3,500 spots in 2023 to reduce backlogs, with further increases planned. Fraser also introduced 3-year open work permits for entrepreneurial teams, allowing flexibility beyond just working for their start-up. Applications endorsed by venture capital funds, angel investor groups, and backed by business incubators will be prioritized for faster processing.

Fraser limited the number of applicants certain entities can endorse annually to improve the reliability of timelines. These improvements aim to make Canada more competitive globally for innovative immigrant entrepreneurs and fuel growth in emerging tech sectors. The changes balance faster processing with fairness for those already in the visa pipeline.

Overall, Fraser sought to shape Canada’s immigration policies to boost economic growth and build a larger skilled workforce. His time as minister was focused on facilitating higher immigration levels and making it easier for students and skilled workers to immigrate and remain in Canada. Reducing backlogs was also a priority, though continued to be an issue affecting the immigration system.

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3-Year Work Permits for Start-up Visa Applicants Offer Solution to Canada’s Labor Shortage https://eternainternational.com/ca/3-year-work-permits-for-start-up-visa-applicants-offer-solution-to-canadas-labor-shortage/ Fri, 21 Jul 2023 10:11:08 +0000 https://eternainternational.com/ca/?p=8496 Canada’s provinces are urgently seeking immigration solutions to growing labor shortages, as evident from the recent Premiers’ meeting held in Winnipeg lately. In fact, the new rules of the Start-up Visa can be one of the solutions to solve this issue. The expanded 3-year open work permit is available to Start-up Visa applicants and families. Under the enhanced rules, […]

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Canada’s provinces are urgently seeking immigration solutions to growing labor shortages, as evident from the recent Premiers’ meeting held in Winnipeg lately. In fact, the new rules of the Start-up Visa can be one of the solutions to solve this issue.

Canada's provinces are urgently seeking immigration solutions to growing labor shortages, as evident from the recent Premiers' meeting held in Winnipeg lately. In fact, the new rules of the Start-up Visa can be one of the solutions to solve this issue. 

The expanded 3-year open work permit is available to Start-up Visa applicants and families. Under the enhanced rules, Start-up Visa applicants can develop their ventures in Canada while working flexible jobs to earn income. Spouses also gain 3-year work rights, allowing full households to contribute economically.

With the work permit extended from just 1 year previously, immigrants have longer to establish themselves before needing to switch to permanent residence. This provides a greater opportunity to plug skills gaps. To the provinces, this is a win-win step. 

On the other hand, the Premiers specifically identified healthcare as a priority field requiring personnel. If the startups have business ideas for health tech, they can get a better chance to convince investors (Venture capital fund or Angel investor group) to invest in their companies.

The most important is when startups have investments by Venture capital funds or Angel investor groups, the applications can be considered to speed up the processing. This promises health tech founders accelerated entry to begin targeting healthcare development in Canada.

The longer and more flexible work rights are perfectly suited to Canada’s needs. Start-up immigrants can drive growth in undersupplied sectors like healthcare while earning income to support families and ventures. Rather than awaiting permanent residence, the 3-year permit puts applicants to better develop their businesses. With quotas tripled too, Canada is redoubling Start-up Visa efforts to attract essential tech skills, like health tech.

 

The provinces want action to fill gaps and power economies. The expanded open work permits offer Start-up Visa applicants the immediate opportunity to do just that across Canada.

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Comparing Approval Rates, Start-up Visa Emerging as Top Path for Startup Entrepreneurs https://eternainternational.com/ca/comparing-approval-rates-start-up-visa-emerging-as-top-path-for-startup-entrepreneurs/ Thu, 20 Jul 2023 09:57:09 +0000 https://eternainternational.com/ca/?p=8489 For immigrant entrepreneurs, Canada’s Start-up Visa (SUV) is rising as a premier route with high approval odds versus other economic programs like Express Entry. In 2021, over 184,000 ITAs were issued, resulting in the permanent residence of over 108,000 individuals primarily through the Federal Skilled Worker Program and Federal Skilled Trades Program, which saw approval rates […]

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For immigrant entrepreneurs, Canada’s Start-up Visa (SUV) is rising as a premier route with high approval odds versus other economic programs like Express Entry.

In 2021, over 184,000 ITAs were issued, resulting in the permanent residence of over 108,000 individuals primarily through the Federal Skilled Worker Program and Federal Skilled Trades Program, which saw approval rates of 60% and 65% respectively.

Recent IRCC data shows the SUV had an 80% approval rate from 2016-2022, outpacing Express Entry streams such as Federal Skilled Worker and Federal Skilled Trades Program. Especially, Angel Investor Groups consistently achieved high approval rates, achieving 89% on average across the years. Business Incubators also displayed commendable approval rates, ranging from 69% to 90%. However, due to limited data availability, it is challenging to draw firm conclusions about the approval rates of Venture Capital Funds.

The SUV’s higher approval potential stems from the program requiring a supporting commitment from designated partners like business incubators, venture capital funds, or angel investor groups. This backing from established organizations results in greater success rates for permanent residence applications compared to Express Entry draws which assess candidates solely on human capital factors like education, work experience, and easy-reach language ability.

Canada’s Minister of Immigration, Refugees and Citizenship, Sean Fraser, has announced several improvements to the Start-up Visa (SUV) Program as part of the country’s first-ever Tech Talent Strategy at Collision 2023.

As per IRCC’s new Tech Talent Strategy, the SUV program will be further enhanced through key improvements:

  • 3-Year Open Work Permits: Allows flexibility to work for any employer, rather than just the applicant’s startup. This helps founders earn supplemental income while establishing their business.
  • Increased Annual Quotas: The allocation of spots was recently tripled from 1,000 to 3,500 which will shorten processing times that had stretched to over 2 years in some cases.
  • Prioritized Applications: Entrepreneurs backed by strong funding commitments from VC funds, angels, or business incubators with committed capital, will benefit from faster processing predictably in less than 12 months versus the nearly 12-month average for Express Entry currently.

These changes will make the SUV program even more appealing and significantly boost approval potential for deserving immigrant founders. The combination of high success rates, improved work rights and accelerated processing creates ideal conditions for creative entrepreneurs looking to scale global ventures.

For immigrant business owners, the Start-up Visa now represents the most promising avenue in Canada’s economic class programs. With data-driven enhancements directly addressing past friction points, the revamped SUV offers an optimal path to permanent residence in Canada’s thriving startup ecosystem.

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What is the Most Attractive Business for Canada’s Start-ups Investors? https://eternainternational.com/ca/what-is-the-most-attractive-business-for-canadas-start-up-investors/ Wed, 19 Jul 2023 10:12:59 +0000 https://eternainternational.com/ca/?p=8480 Canada has emerged as a top global startup hub thanks to various advantages like an immigrant-friendly environment, world-class innovation and R&D infrastructure, availability of tech talent, and lower costs compared to Silicon Valley. Canada also provides great opportunities for immigrant entrepreneurs to launch their startups through the Start-up Visa Program. According to the 2022 Global Startup […]

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Canada has emerged as a top global startup hub thanks to various advantages like an immigrant-friendly environment, world-class innovation and R&D infrastructure, availability of tech talent, and lower costs compared to Silicon Valley. Canada also provides great opportunities for immigrant entrepreneurs to launch their startups through the Start-up Visa Program.

According to the 2022 Global Startup Ecosystem Report by Startup Genome, Toronto ranked 8th best globally out of 140+ ecosystems. Canada also has the most startup visa recipients, with over 1,295 startups launched and 6,115 jobs created by immigrant entrepreneurs until 2021.

Several emerging high-potential business sectors are especially attractive for startups in Canada currently. Based on the latest market data and funding trends, some of the top appealing opportunities include information technology (IT), clean technology, and health technology.

Eterna has helped a lot of applicants to start their businesses in information technology, clean technology, health technology, etc. With their creative and valuable business plan, the startups can be easier to gain their investment from Venture Captial Fund or Angle Investor Group which Eterna can arrange to reach out to.

According to the new Tech Talent strategy that the IRCC launched lately, startups who are supported by Venture Captial Fund or Angle Investor Group can get quicker processing time for their PR applications. So, highly supported designated organizations must be more and more attractive during the SUV applications in these future years.

Here are some of the most attractive business sectors for startups in Canada’s start-up visa program currently:

Information Technology 

The information technology (IT) sector has emerged as one of the most attractive startups in Canada. According to the 2022 report by the Canadian Venture Capital Association (CVCA), IT accounted for 28% of all venture capital funding in Canada last year. This highlights the strong investor interest in the sector.

Canada also ranks first in the world for the availability of competent and skilled professionals in computer science entering the workforce, according to the World Economic Forum. The strong talent pool provides fertile ground for IT startups to access qualified workers. Compared to tech epicenters like Silicon Valley, tech talent in Canada also comes at more affordable salaries, giving startups a cost advantage. Canada’s major urban hubs like Toronto, Vancouver, and Montreal have thriving tech ecosystems. The lower cost of living and operations compared to the United States makes Canada appealing for early-stage tech startups.

With abundant tech talent and more reasonable costs, Canada provides an ideal environment for IT startups to bootstrap their operations. The large active VC funding also results in a vibrant exit environment, with several unicorn success stories in IT coming out of Canada in recent years. All these factors contribute to making IT one of the most attractive startup sectors currently.

Clean Technology  

Another emerging business area that is highly attractive for startups in Canada is clean technology.

The Canadian government announced investments totaling $68.2 million in 17 cleantech companies through Sustainable Development Technology Canada (SDTC).  Shows high support for the cleantech sector in Canada.

Canada is already the 3rd largest cleantech market in the world, but the segment is still in the early stages of development with massive potential for growth. Clean technology spans renewable energy, green buildings, electric transport, waste management, and other sustainability-focused segments. With businesses and governments increasingly prioritizing their net zero emission goals, the demand for clean technology solutions is set to surge.

Canada is also already leading in some cleantech sub-segments like fuel cells. The federal government as well as various provinces have implemented policies to encourage cleantech adoption and sustainability. These backing government policies also boost investor confidence in cleantech ventures. Considering the high growth potential and supportive business climate, cleantech stands out as a promising field for startups to target.

Health Technology 

In Canada’s robust public healthcare system, health technology is emerging as a high-potential area for startups. According to the CVCA report, venture capital investment in health technology crossed $1 billion for the first time in 2022. This is almost double the funding received in 2021, showcasing the rising investor appetite.

One factor that makes Canada’s healthcare system ideal for health tech innovations is that it provides startups access to healthcare providers and patients to test and validate new technologies. The single-payer public system also simplifies the implementation of innovative digital health solutions. Canada also has a sizable aging population, driving the demand for health tech products like remote patient monitoring, virtual healthcare, medical devices, and digital therapeutics.

During COVID-19, the adoption of virtual healthcare services by providers and patients in Canada accelerated enormously. This shift increases the opportunities for health tech startups. Given the demographic trends, demand dynamics, and growth in funding, health technology offers promising potential as a startup niche.

Financial Technology 

In the financial services domain, financial technology or fintech has big potential as a startup opportunity in Canada. According to the Global Fintech Index, Toronto ranked 8th globally as an attractive hub to base fintech operations. The supportive business environment includes government grants and incentives specifically targeted at fintech firms. For instance, the Ontario government provides funding for fintech incubators as well as tax incentives.

The Canadian financial sector is also dominated by a few major established players, giving ample room for fintech startups to disrupt and improve financial services with innovative products. Advanced technologies like blockchain, AI, and machine learning can be applied across areas like digital payments, insurance, wealth management, and lending to offer enhanced financial service experiences. With consumers and businesses embracing digital financial transactions, the demand outlook is strong for fintech solutions. Considering these favorable conditions, fintech stands out as an attractive avenue for startups in Canada.

These four sectors have emerged as appealing domains for startups to target, based on the latest market trends and data. The vital aspects that make them attractive include strong government support, abundant talent, massive market potential as large industries embrace technology and digital disruption, as well as surging investor funding interest.

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Why Canada Start-Up Visa Requires Start-ups to Have Letters of Support Before Submitting PR Applications? https://eternainternational.com/ca/canada-start-up-visa-requires-letters-of-support-pr-applications/ Mon, 17 Jul 2023 07:52:45 +0000 https://eternainternational.com/ca/?p=8468 The Canadian Start-Up Visa (SUV) program provides a pathway to immigrants get permanent residency, work permits, and potentially citizenship. Navigating the demanding application process requires essential documents like the Letter of Support. With an expanded quota and prioritized applications of the latest updates of the SUV, obtaining a Letter of Support has become increasingly vital […]

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The Canadian Start-Up Visa (SUV) program provides a pathway to immigrants get permanent residency, work permits, and potentially citizenship. Navigating the demanding application process requires essential documents like the Letter of Support. With an expanded quota and prioritized applications of the latest updates of the SUV, obtaining a Letter of Support has become increasingly vital for aspiring entrepreneurs looking to build a prosperous future in Canada. The most important is, Eterna International proudly boasts a 100% success rate in obtaining Letters of Support for our clients, ensuring they have the best chance to succeed.

Why applicants need to get Letters of Support 

The Letter of Support is a mandatory requirement for start-ups seeking to participate in the SUV program. Designated organizations, such as venture capital funds, angel investor groups, and business incubators, are entrusted by the Canadian government to validate start-up business ideas and their potential for success. Acquiring a Letter of Support offers several key benefits:

  1. Validation of the business idea: The letter confirms that experienced investors or business incubators have thoroughly evaluated and endorsed the start-up’s innovative and promising business idea, reducing the risk of granting Permanent Residency (PR) to entrepreneurs with potentially unsuccessful ventures.
  2. Expert assessment:  Designated organizations possess the expertise to evaluate a start-up’s potential in terms of market opportunity, competitive advantage, and scalability, providing invaluable insight into its prospects and the entrepreneurs’ capabilities.
  3. Commitment to the start-up: The Letter of Support demonstrates that the designated organization (Venture capital fund, Angel investor group, or Business incubator) believes in the start-up and is prepared to invest time and resources to facilitate its growth in Canada, thus increasing its chances of success and contribution to the Canadian economy.
  4. Mentorship and guidance: Designated organizations frequently offer mentorship, resources, and networking opportunities to the start-ups they support, especially from Venture Capital or Angel investor group, which can be particularly beneficial to entrepreneurs new to Canada and its local business environment.

Furthermore, the Immigration, Refugees, and Citizenship Canada (IRCC) latest announcement about the Canada start-up visa, points out that IRCC will prioritize applications based on factors such as committed capital or endorsements from trusted partners.

Applications supported by venture capital, angel investor groups, and business incubators with committed capital will be prioritized, as well as those backed by business incubators that are members of Canada’s Tech Network.

The IRCC will be closely examining whether applicants have been nominated by a designated incubator that’s part of this new program and limits the number of new candidates that certain designated entities can put forward. This approach aims to reduce pressure on the system and provide more reliable timelines moving forward.

At Eterna International, we understand the critical role the Letter of Support plays in the application process and the importance of partnering with a trusted advisor. Our innovative solutions, transparent services, and enduring relationships have led to a 100% success rate in obtaining Letters of Support for our clients. Trust us as your advisor to help you secure a thriving future in Canada through the Start-Up Visa program.

Securing a Letter of Support from a recognized designated organization is the key to unlocking the benefits of the expanded and streamlined SUV program. By partnering with our company, entrepreneurs can access essential resources, guidance, and expert assessment, significantly improving their chances of a successful application. As Canada continues to prioritize and expand its Start-Up Visa program, obtaining a Letter of Support remains the crucial first step in securing a thriving future in the country. Place your trust in our company’s proven expertise and let us help you navigate the path to Canadian immigration success.

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Start-Up Visa Advantages: A Beacon of Hope in Canadian Immigration Application Delays https://eternainternational.com/ca/start-up-visa-advantages-canadas-immigration-application-delays/ Thu, 13 Jul 2023 10:19:06 +0000 https://eternainternational.com/ca/?p=8462 Canada faces an increasing backlog in immigration application processing. While the backlog of Canadian immigration application remains a challenge for the IRCC, the organization has shown some improvement in processing times and is making efforts to address the issue. The IRCC finalized over 5.2 million applications in 2022, doubling that of 2021, and aims to process […]

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Canada faces an increasing backlog in immigration application processing. While the backlog of Canadian immigration application remains a challenge for the IRCC, the organization has shown some improvement in processing times and is making efforts to address the issue. The IRCC finalized over 5.2 million applications in 2022, doubling that of 2021, and aims to process 80% of all applications within service standards.

Canadian immigration applications

As of May 31, permanent resident applications had the highest backlog percentage (48%), followed by temporary resident applications (33%) and citizenship applications (27%). The backlog increased from 809,000 applications in April to 820,000 by June 16, attributed partly to more applications being counted in the tally.

However, despite the backlog challenges, the IRCC has shown some improvement in processing times. In May, 64% of Canadian immigration applications met service standards, up from 60% in April. It successfully processed 417,000 study permits and 696,000 work permits between January and May, higher than the previous year. The recent PSAC strike had some impact on visitor visa processing, but study permits exceeded the service standard, and work permits showed improvement.

Advantages of the new changes in the start-up visa program 

In this situation, the Start-Up Visa program, updated lately, offers a glimmer of hope for entrepreneurs seeking a more efficient route to permanent residency.

The IRCC has increased the number of spots available under the program from 1,000 to 3,500 for 2023, effectively tripling the anticipated permanent residents in the Federal Business category compared to 2022. Further increases are planned for 2024 and 2025, with prioritization of applications backed by angel investor groups or venture capital funds.

The new rules under the Start-Up Visa program emphasize the importance of prioritizing applications backed by strong financial support. Applications with committed capital from venture capital, angel investor groups, and business incubators will be given priority, along with those backed by business incubators that are members of Canada’s Tech Network.

The IRCC will focus on nominations from designated incubators and limit the number of new candidates that certain designated entities can put forward, further reducing pressure on the system. This prioritization strategy will help streamline the application process and potentially shorten processing times for well-supported entrepreneurs.

What’s more, examining the data spanning from 2016 to 2022 obtained from IRCC, the Canada Start-up Visa Program exhibited an overall success rate of 80% over the analyzed six-year period. Angel Investor Groups consistently achieved high approval rates, achieving 89% on average across the years.

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Returned to Pre-pandemic Processing Times, IRCC Speeds Up Benefit Immigrants and Travellers https://eternainternational.com/ca/returned-to-pre-pandemic-processing-times-ircc-speeds-up-benefit-immigrants-and-travellers/ Tue, 11 Jul 2023 09:35:31 +0000 https://eternainternational.com/ca/?p=8408 The Immigration, Refugees and Citizenship Canada (IRCC) has recognized the slow processing times for various immigration programs and is implementing measures to speed up not only the Start-up Visa Program but also other immigration and travel-related processes. These significant changes come as good news for immigrants and travelers alike. In recent news, passport delivery has returned […]

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The Immigration, Refugees and Citizenship Canada (IRCC) has recognized the slow processing times for various immigration programs and is implementing measures to speed up not only the Start-up Visa Program but also other immigration and travel-related processes. These significant changes come as good news for immigrants and travelers alike.

In recent news, passport delivery has returned to pre-pandemic processing times, with no backlogs and Service Canada exceeding its delivery standard for most applications. A total of seven new 10-day passport service sites have been established across Canada, making it easier for Canadians to obtain their passports. Furthermore, the online Passport Application Status Checker has been introduced, allowing Canadians to access real-time updates on their application status, leading to shorter wait times when contacting the Passport Call Centre.

The IRCC has also expanded visa-free travel for 13 countries, allowing qualifying passport holders to travel to Canada by air without requiring a Temporary Residence Visa (TRV). This change is expected to divert thousands of applications from Canada’s visa caseload, enabling the IRCC to process visa applications more efficiently.

The most thrilling news, the IRCC is working to shorten processing times across various immigration programs, including the Start-up Visa Program, which has seen a significant increase in applications. The number of spaces available under the program has been increased from 1,000 to 3,500 for 2023. Plans are in place for further increases in 2024 and 2025.

The IRCC will prioritize applications within the Start-up Visa Program based on factors such as committed capital or endorsement from a trusted partner. Applications supported by venture capital, angel investor groups, and business incubators with committed capital will be prioritized, as well as those backed by business incubators that are members of Canada’s Tech Network.

All the action of the IRCC lately shows their ambition of making the department more effective and giving a better visit or immigration experience to travelers and newcomers all around the world. These improvements to the processing times and expansion of available spaces in various immigration programs signal a positive change for immigrants and travelers looking to make Canada their new home or destination for work and leisure.

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