Immigration Canada

Canadian Investor Groups Ready and Eager to Drive Economic Growth through the new Start-Up Visa

English: Diagram of venture capital fund structure for Venture capital (Photo credit: Wikipedia)

The new start-up visa will link innovative entrepreneurs with private sector organizations in Canada that have experience working with start-ups and can provide entrepreneurs with essential resources. As a way to help these in-demand entrepreneurs fulfil their potential and maximize their impact on the Canadian labour market, they will require the support of a Canadian angel investor group or venture capital fund before they can apply for a start-up visa.

Citizenship and Immigration Canada (CIC) worked with industry umbrella groups, namely Canada’s Venture Capital and Private Equity Association (CVCA) and the National Angel Capital Organization (NACO), to identify eligible private sector organizations to partner in this program.

The umbrella organizations relied on specific criteria to determine which of their members are eligible to participate in the Start-Up Visa Program.

To receive designation to participate in the Start-Up Visa Program, a venture capital (VC) fund had to be a full member in good standing of the CVCA. VC funds that met this criterion and manage over $40 million in capital were automatically eligible to participate. VC funds that manage less than $40 million had to apply to the CVCA to participate in the Start-Up Visa Program. A number of factors were considered, including referrals from current CVCA members and interviews that the CVCA conducted with the limited partners of the fund.

Angel investor groups seeking to participate in the Start-Up Visa Program applied to NACO, of which they had to be a member in good standing. They were then assessed according to a number of criteria which included the level of deal flow in the past year, evidence of a thorough due diligence process, and evidence that all members of the group are accredited investors.

Immigrant entrepreneurs will require investment commitments from a venture capital fund or an angel investor group in order to apply for permanent resident status through the Start-Up Visa Program. An applicant must secure a minimum investment of $200,000 if the investment comes from a designated Canadian venture capital fund or a minimum investment of $75,000 if the investment comes from a designated Canadian angel investor group. Applicants will also need to meet general program requirements, such as language proficiency and academic experience.

The following is a list of the venture capital funds and angel investor groups that will participate in the Start-Up Visa Program:

Venture Capital Funds

BDC Venture Capital
Blackberry Partners Fund II LP (doing business as Relay Ventures Fund II)
Celtic House Venture Partners
- Celtic House Venture Partners Fund III L.P.
- Celtic House Venture Partners Fund IV LP
DRI Capital Inc.
Golden Opportunities Fund Inc.
iNovia Capital Inc.
New Brunswick Innovation Foundation Inc.
Northwater Intellectual Property Fund
OMERS Ventures Management Inc.
Pangaea Ventures Fund III, LP
PRIVEQ Capital Funds
- PRIVEQ III Limited Partnership
- PRIVEQ IV Limited Partnership
Quorum Group
- Advantage Growth (No.2) L.P.
- Ontario SME Capital Corporation
- Quorum Investment Pool Limited Partnership
- Quorum Secured Equity Trust
Rho Canada Ventures
Summerhill Venture Partners Management Inc.
Tandem Expansion Management Inc.
Vanedge Capital Limited Partnership
Version One Ventures
Wellington Financial LP
Westcap Mgt. Ltd.
Yaletown Venture Partners Inc.

Angel Investor Groups

Top employers for Canadians over 40 for 2013

English: Tour CIBC in Montreal. (Photo credit: Wikipedia)

Special to The Globe and Mail

Published Tuesday, Apr. 09 2013, 5:00 AM EDT

Mediacorp awards acknowledge companies that offer innovative programs to assist older workers as they transition to life after work.

Agriculture Financial Services Corp. (AFSC), Lacombe, Alta. Credit intermediation; 550 employees. Actively seeks experienced adjusters for their knowledge, with the average age for adjusters being 55 years. Helps employees prepare for life after work with retirement planning courses tailored to employees under and over 45, phased-in retirement work options and contributions to a defined benefit pension plan.

Bank of Montreal (BMO), Toronto. Banking; 28,686 employees. Offers an enlightened sick-day policy through which employees can apply for personal days off, called People Care Days, that may be used for everything from moving to extended family responsibilities. Helps older workers with retirement planning assistance, phased-in retirement work options and health coverage that extends into retirement (with no age limit.)

Bombardier Inc., Montreal. Aircraft manufacturing; 24,147 employees. Offers retirement planning assistance services as well as phased-in retirement work options.

Business Development Bank of Canada, Montreal. Banking; 1,958 employees. In addition to three weeks of vacation to start, employees can purchase additional vacation days (up to five days) through the flexible health plan. Gives phased-in work options to older employees and contributes to a defined benefit pension plan.

Cameco Corp., Saskatoon. Uranium mining; 3,033 employees. Retiring employees enjoy a health benefits plan that extends into retirement with no age limit. Helps employees plan for retirement.

Canadian Security Intelligence Service, Ottawa. National security; 3,311 employees. Established the “intergenerational working group” on attraction and retention of employees to better understand expectations and needs across all generations in the workplace. Holds retirement planning workshops.

Canadian Imperial Bank of Commerce (CIBC), Toronto. Banking; 33,965 employees. Helps ease the transition into retirement with phased-in work options. Supports a retiree advisory committee that represents the views and concerns of retired employees.

Dalhousie University, Halifax. Colleges and universities; 3,328 employees. Retired employees can stay active through the Association of Dalhousie Retirees and Pensioners, which organizes social events and represents retiree interests on the university’s pension and benefits committees.

EllisDon Corp., Mississauga, Ont. Building construction; 1,164 employees. Profit-sharing and share purchase plans are available to all employees. Offers retirement planning assistance, phased-in retirement work options and contributions to a defined benefit pension plan.

Enbridge Inc., Calgary. Natural gas distribution; 4,681 employees. Considers previous work experience when establishing vacation entitlements for experienced applicants. Helps older employees prepare for life after work, contributes to defined contribution or defined benefit pension plans (depending on the employee group) and offers a health benefits plan that extends into retirement (with no age limit.)

HP Advanced Solutions Inc., Victoria. Computer system design; 403 employees. Offers phased-in retirement work options, assistance with succession planning and a defined benefit pension plan.

Manitoba Hydro, Winnipeg. Hydroelectric power generation; 5,980 employees. Subsidizes a retiree social club called Hydro-X that operates across the province; helps prepare older workers for life after work with retirement planning workshops.

SaskTel, Regina. Telecommunications; 3,131 employees. Offers an academic scholarship program available to employees’ older children pursuing postsecondary education; helps employees prepare for life after work and is in the process of introducing a phased-in retirement work program for employees nearing retirement.

Union Gas Ltd., Chatham-Kent, Ont. Natural gas distribution; 2,192 employees. Financial rewards include signing bonuses for some, generous year-end bonuses and a share purchase plan available to all employees; helps older workers prepare for life after work with retirement planning assistance.

University of Toronto, Toronto. Colleges and universities; 8,485 employees. Maintains a family care office that provides resources and hosts workshops and discussion groups on a range of family issues; offers a variety of alternative work options including flexible hours, telecommuting and reduced summer hours and phased-in retirement work options.

Canada to spend $10M to woo foreign students.

University of British Columbia (Photo credit: Wikipedia)

BY KARL KOFMEL, POSTMEDIA NEWS MARCH 30, 2013

The Canadian government is hoping to corner the market on foreign students by making a significant investment into Canada's education brand.

The recently tabled federal budget directs $10 million over the next two years to the effort - a large increase from the funding it set aside for marketing education from 2007 to 2012, when it budgeted $1 million each year.

Efforts will focus on strengthening the "Imagine Education au/in Canada" brand, a program that aims to promote the high quality of a Canadian education to international students.

Foreign Affairs spokesman John Babcock said the extra funding is a "very positive signal," and that the federal government will continue cooperating with the provinces to strengthen the international education strategy.

Canada is already a top destination for foreign students. According to the budget, some 239,000 students in 2010 contributed $8 billion to the economy, making them a rich vein for colleges and universities to tap.

The University of British Columbia, for instance, has almost 4,000 students from 120 different countries. Foreign students' tuition is, on average, five times higher than what Canadian students pay.

"It's a lot more than about economics," said UBC president Stephen Toope. "They really bring a richness to the educational experience that all Canadian students benefit from."

Jennifer Humphries, vice-president of membership, public policy and communications for the Canadian Bureau for International Education, said the Canadian education strategy to attract these students has several facets.

"The brand is all the things Canada does," said Humphries, adding that immigration regulations, tourism campaigns, the schools themselves and even the Vancouver Winter Olympics are all a part of the marketing effort.

"I still think, and the government seems to agree with us, there needs to be more investment and more work on establishing a brand, because we aren't where we need to be," she said.

The budget also included $13 million for Mitacs Globalink, a Vancouver-based program that matches international research students with schools.

"We're unique in being able to make sure that students are being put into labs that will be really interesting to them," said Arvind Gupta, CEO of Mitacs Globalink. "They know that when they come to us that we will have a good project for them."

The Imagine Education campaign has only been around a short time, so it remains to be seen how it affects recruitment.

Helping Immigrants Integrate and Succeed

The Centre Block on Parliament Hill, containing the houses of the Canadian parliament (Photo credit: Wikipedia)

Vancouver, April 2, 2013 — A new, more comprehensive guide and a new web tool to help newcomers settle and integrate in Canada were unveiled today by Citizenship, Immigration and Multiculturalism Minister Jason Kenney.

CIC’s new flagship publication, Welcome to Canada, is intended to be the official handbook to assist immigrants in preparing to come to Canada and to help them navigate their way during their first months in Canada.

“Our Government is committed to ensuring newcomers to Canada integrate and succeed in the Canadian economy and society as soon as possible,” said Minister Kenney, speaking at the MOSAIC settlement service centre. “The new edition of Welcome to Canada shows our commitment to helping the citizens of tomorrow experience a smoother transition into their new community and into the Canadian workforce.”

Twice as long as the previous edition, the new guide’s content has been built on the foundation of academic research, in consultation with several federal partners and experts in the field of integration, and has been reviewed by new immigrants. The guide features practical information on many different topics including how to access language classes, basic information about Canada’s education system, laws and the justice system, the labour market and much more.

For the first time, the Welcome to Canada guide includes examples of immigrants to Canada who have successfully integrated. The guide was enriched by advice and anecdotes from Nick Noorani, himself an immigrant and an expert who specializes in immigrant integration and career outcomes.

“It is a huge honor and privilege for me to have had a chance to work on this publication,” said Mr. Noorani. “Canada has given me more than I could ever have dreamed of and through my experiences I can help future immigrants succeed in Canada and this guide is a big part of that.”

This is the first time the Welcome to Canada guide has been revamped since it was first introduced in 1997. Like ourDiscover Canada citizenship study guide, Welcome to Canada is available in PDF or E-book format at cic.gc.ca/publications.

In addition, following the resounding success of the Come to Canada Wizard, the online immigration assessment and application tool, Minister Kenney today launched another interactive tool, this time intended for newcomers who have recently arrived in Canada.

The Living in Canada Tool produces a semi-customized settlement plan filled with tips, next steps, and useful links based on user responses to the initial questionnaire. Users can also find local immigrant-serving organizations with the integrated Find Services map, and can bring with them their customized settlement plan for additional, personalized support.

“To help newcomers integrate, the Government has tripled settlement funding since 2005-06 and remains committed to ensuring the distribution of settlement funding is fair, that immigrants receive the same level of service, regardless of where they choose to settle,” said Minister Kenney. “The new Living in Canada web tool helps newcomers find and access language and settlement services quickly upon arrival.”

twitter.com/CitImmCanada

Average Monthly Living Expenses in Canada

Red Ensign (pre-1965 Canadian flag) (Photo credit: Lone Primate)

Communications

Telephones - You can buy your own telephone, or rent one from the telephone company. Major home phone companies are: Rogers, Bell, Shaw,Telus and Primus
Average Cost of Telephone (Monthly): $20 - $40 plus long distance charges.
Cellular phones - Many Canadians have a cellular (cell), or mobile, phone instead of or in addition to a land-line. You will need to purchase a phone and pay for the monthly phone service. Major cell phone retailers are: Rogers, Bell, Fido, Telus, Virgin Mobile, Windmobile, Mobilicity, Publicmobile, Solo and Koodo.
Average Cost of Cell Phone (Monthly): $40 + Cost Initial Cost of Phone
Cable or satellite television - you may need to purchase cable or satellite service. There is a monthly fee for such service, and it usually varies depending on the provider, the scope of the package and the options you choose.
Average Cost of Cable (Monthly): $25 - $50
Internet - Many Canadians subscribe to an Internet service, which allows them to surf the web or send emails from their home computer. You can purchase Internet service from most cable or telephone companies.
Average Cost of Internet (Monthly): $20 - $60

About Canada's Health Care

One of the most important things you need to do as soon as you arrive in Canada is to apply for a health insurance card. All members of your family, even newborn babies, must have their own card. You can get an application form from the provincial ministry of health office, any doctor's office, a hospital or a pharmacy.

To apply for a health card, you will need your birth certificate or Confirmation of immigration status in Canada (IMM 5292) and passport. Your Permanent Resident card may also be presented. In most provinces, you will receive coverage as soon as you apply.

Health-care services covered by medicare include:

examination and treatment by family doctors;
many types of surgery;
most treatment by specialists;
hospital care;
X-rays;
many laboratory tests; and
most immunizations.

Health-care services not covered by medicare, and for which you will have to pay, include:

ambulance services;
prescription drugs;
dental care; and
glasses and contact lenses.

Medical Expenses

Canadian residents enjoy a healthcare system that is publicly funded. Many health services are paid for from taxes and are free to all residents of Canada who hold a provincial health card.

However, not all medical expenses are covered. Depending on the province in which you live, you may have to pay for services such as:

Dental care
Eye examinations and prescription eye wear
Treatment provided by psychologists, chiropractors, physiotherapists, massage therapists, acupuncturists, dietitians and naturopaths
Cosmetic or elective surgery

Taxes in Canada

Canadians enjoy many government-funded benefits, such as healthcare, education systems, interconnecting highways, clean drinking water and sanitation systems. Canadians pay a variety of taxes to the federal and provincial governments to support these benefits.

Each year, you determine your final tax obligation. On the return, you list your income and deductions, calculate federal and provincial or territorial tax, and determine if you have a balance of tax owing for the year, or whether you are entitled to a refund of some or all of the tax that was deducted from your income during the year.

Sales Taxes

When you purchase an item or a service one or more types of tax may be added:

Goods and Services Tax (GST) - A 5% federal tax applies to most goods and services sold in Canada.
Provincial Sales Tax (PST) - With the exception of Alberta, the provinces also tax many new and used items (but not services). The rate varies by province.
Harmonized Sales Tax (HST) - In Nova Scotia, New Brunswick, and Newfoundland and Labrador, the GST and PST are combined into a single tax - the HST. The HST is 13% (5% GST plus 8% PST) and is added to the cost of the goods or services for the final total price.

Provincial/Territorial tax rates (combined chart)*
Provinces/Territories	Rate(s)
Newfoundland and Labrador	7.7% on the first $31,061 of taxable income, + 12.8% on the next $31,060, + 15.5% on the amount over $62,121
Prince Edward Island	9.8% on the first $31,984 of taxable income, + 13.8% on the next $31,985, + 16.7% on the amount over $63,969
Nova Scotia	8.79% on the first $29,590 of taxable income, + 14.95% on the next $29,590, + 16.67% on the next $33,820 + 17.5% on the amount over $93,000
New Brunswick	10.12% on the first $35,707 of taxable income, + 15.48% on the next $35,708, + 16.8% on the next $44,690, + 17.95% on the amount over $116,105
Quebec	Contact Revenu Québec
Ontario	6.05% on the first $36,848 of taxable income, + 9.15% on the next $36,850, + 11.16% on the amount over $73,698
Manitoba	10.8% on the first $31,000 of taxable income, + 12.75% on the next $36,000, + 17.4% on the amount over $67,000
Saskatchewan	11% on the first $40,113 of taxable income, + 13% on the next $74,497, + 15% on the amount over $114,610
Alberta	10% of taxable income
British Columbia	5.06% on the first $35,716 of taxable income, + 7.7% on the next $35,717, + 10.5% on the next $10,581, + 12.29% on the next $17,574, + 14.7% on the amount over $99,588
Yukon	7.04% on the first $38,832 of taxable income, + 9.68% on the next $38,832, + 11.44% on the next $48,600, + 12.76% on the amount over $126,264
Northwest Territories	5.9% on the first $36,885 of taxable income, + 8.6% on the next $36,887, + 12.2% on the next $46,164, + 14.05% on the amount over $119,936
Nunavut	4% on the first $38,832 of taxable income, + 7% on the next $38,832, + 9% on the next $48,600, + 11.5% on the amount over $126,264
* Source: http://www.cra.gc.ca as of September 18, 2009

Pay Deductions

The following deductions are standard for all employees in Canada. The deductions are automatically taken out from your paycheck before you receive your pay.

Income taxes
Canada Pension Plan or Quebec Pension Plan
Employment Insurance
Union dues - if you belong to a union
Contributions to a retirement or pension plan
Any other necessary or agreed upon deductions between you and your employer

The above deduction could reduce your pay by as much as 25% to 35% of your total income.

Source:Going to Canada

Expenses in Canada

English: Pie chart of the area of provinces and territories of Canada. (Photo credit: Wikipedia)

When you move to Canada, your expenses may be different from those you are used to. Canada is a very large country, and costs can vary significantly depending on where you live. When you move to Canada, it's helpful to know a little about the money that you'll be using when you get there.

Coins come in six denominations. Each is a distinct size, shape and color for easy identification.

penny = 1¢
nickel = 5¢
dime = 10¢
quarter = 25¢
dollar = $1.00 (known as the "loonie")
two dollar = $2.00 (known as the "toonie")

Paper money is all the same size, but each bill is different in color.

$5 - blue
$10 - purple
$20 - green
$50 - red
$100 - brown

It's a good idea to exchange some of your money into Canadian currency before you leave your home country, so that you have cash on hand for small purchases as soon as you arrive. Once you're here, there are several ways to exchange your money for Canadian currency.

Housing

You've arrived in Canada. One of the most important tasks ahead of you is finding a place to live. This is likely to be one of your biggest expenses.

Many people rent their home for their first few years in Canada, which usually costs less than buying a home.

Average Cost of a house in Canada and Renting in Canada
	Avg. Cost of House*	Avg. Monthly Rent for 2 Bedroom**
British Columbia	$ 461,931	$ 1,045
Alberta	$ 346,955	$ 884
Saskatchewan	$ 234,655	$ 613
Manitoba	$ 204,465	$ 709
Ontario	$ 325,364	$ 931
Quebec	$ 228,184	$ 738
New Brunswick	$ 160,400	$ 637
Prince Edward Island	$ 148,885	$ 642
Nova Scotia	$ 203,725	$ 799
Newfoundland and Labrador	$ 211,844	$ 651
Yukon	$ 281,420	$ 556
Northwest Territories	$ 331,696	$ 1,365
* Source: June 2009 The Canadian Real Estate Association ** Source: Study in Canada

Utilities

You will need to set aside money in your budget to cover these essential services.

Heat - most homes in Canada are heated by natural gas, oil or electricity.
Electricity - your home will also require electricity to power lights, electronic equipment, appliances and air conditioning units.
Water - if you live in or near a city, the municipality will charge a fee for providing water and sewage services.

Average Cost of Living in Canada
Utilities (Monthly)	$20 - $100
Phone (Monthly)	$20 - $40
Cell Phone (Monthly)	$40
Cable (Monthly)	$25 - $50
Internet (Monthly)	$40
Groceries(1-2 Person Monthly)	$200-$300
Transportation (One way)	$2.75
Fast Food Meal (1 Person)	$4 - $6
Average Restaurant Meal (1 Person)	$10 - $25
Gas	$1.15 - $1.50 / Liter
Entertainment (Movie)	$11.50 - $13
*** Source: Study in Canada