Setting up a company and benefits

[canwan]

Hi, I am planning to immigrate to Canada for the sole reason to set up a technology company. I have a PhD in Computer Science from Stanford, however US doesn't make it very easy for me to set up shop, thanks to the non-sensical immigration policies of the US of A.

Though I am very confident I will be able to set up a successful company, its still a risk. I was curious if Canada has some sort of a benefit program for aspiring entrepreneurs, that provides some financial assistance as they are busy taking on the world. I read that there is this self employment benefits, but that kicks in only when you have worked for a Canadian employer for an year?. Note that the moment I set foot in Canada, my plan is to start working on my own business and not work for someone. It is not going to be very hard for me to find a well paying job, but I am not looking to do that.

I am also married with no kids. I am 30 years of age. My wife is preparing for her MBA, and at some point in time we do plan to have a child.

Thanks.

 

[scylla]

If you're looking for financial assistance to start your business you should be looking for private investors in Canada who are willing to partner with you and/or see if bank loans are an option. Hopefully you've started investigating what it will take to qualify to immigrate to Canada. Good luck.

 

[canwan]

I am not looking for funding per se. I guess all I want to know is more details around the self employment benefits in Ontario viz.

It says that there is govt. sponsored support for entrepreneurs. What does it take to qualify for this for a fresh PR?

 

[scylla]

The only program I'm aware of is the Ontario Self-Employment Benefit. However you won't qualify for this program since you are new to Canada and therefore haven't spent time working and paying into Employment Insurance. There may be other programs I'm not aware of.

If you're planning on immigrating as an Entrepreneur, hopefully you've read through the Start Up Visa requirements. To qualify to apply, you will first have to find an investor in Canada who is willing to support your idea.

 

[david1697]

Click the link below and browse the links.

Notice that those are benefits for Canadian PR and Citizens.

http://www.canadabusiness.ca/eng/page/2848/

If you don't have Canadian PR first you need to find out if you qualify for any.

Where in US are you located?

If you have $2 million dollars you can look into Venture Capital Pilot Program:

http://news.gc.ca/web/article-en.do?nid=915049

If you don't have required capital , but want to be an active partner you may have to find an investor willing to partner with you and finance your project.

 

[canwan]

I mean correct me if I am wrong, but I was gonna apply for express entry PR. My lawyer tells me that given my educational background and work experience, my chances are pretty good. I mean I dont mind working in Canada, for an year or so before I set up my own operation. But I definitely dont foresee working for longer. What would you suggest I do? I just want to know how long do I have to work for an employer before I am eligible for any/some benefits. Also say I dont care of the benefits, can I just launch a small private company after my PR is approved?

 

[david1697]

I don't know anything about Express Entry. just found a link :

http://www.cic.gc.ca/english/immigrate/express/express-entry.asp

You may want to browse it at your spare time.

Looks like you will be able to submit your profile starting 01/01/2015 and application to PR will be by invitation only. CIC will select only the best candidates from the pool.

Not sure how would it work, but in past if you gained PR status as FSW you could work for anyone as soon as you landed in Canada.

You can launch private company even before you have a PR or any status in Canada, but you would need a work permit or PR to employ yourself.

 

[canwan]

Yes, with a degree from Stanford, and about 5 years of work ex., and a patent and 4 respected journal publications, I def. think my chances are good.

Thanks.

 

[scylla]

Yes, with a degree from Stanford, and about 5 years of work ex., and a patent and 4 respected journal publications, I def. think my chances are good.

Thanks.

What will give you the biggest leg up with the Express Entry program is a permanent job offer in Canada. This gives you an additional 600 points and pushes you ahead of other candidates.

 

[canwan]

Sure, but my lawyer told me that I don't need to have an offer and as it is stand a good chance of getting accepted? Would you say that getting an offer is a must?

 

[scylla]

Sure, but my lawyer told me that I don't need to have an offer and as it is stand a good chance of getting accepted? Would you say that getting an offer is a must?

The reality is that your lawyer has no idea what your chances are of being accepted since the lawyer has no idea who else will apply and what their qualifications will be. No - a job offer is certainly not a must. However it will substantially increase your chances of acceptance. If you have any further questions about Express Entry, I would recommend that you join the Express Entry section of this forum.

I assume you have already taken the IELTS test and also had your education assessed in preparation?

 

[canwan]

I will be writing IELTS in a months time, and will be sending my educational assessment in a weeks time also. I mean here is what my confusion is, I am currently working in the US on an H1B and wasn't thinking of getting an offer from a Canadian employer just for the heck of it.

 

[david1697]

I will be writing IELTS in a months time, and will be sending my educational assessment in a weeks time also. I mean here is what my confusion is, I am currently working in the US on an H1B and wasn't thinking of getting an offer from a Canadian employer just for the heck of it.

canwan,if you are a PhD on H1b, unless you are from India or China, you could qualify for immediate immigration under EB2.

http://shusterman.com/statedepartmentvisabulletin/

 

[canwan]

Alas. I am from India

 

[david1697]

Poster above gave you a valuable advise. You would increase your chances of being selected if you had a job offer in Canada.