Start-Up Visa
Summary:
Canada’s Start-Up Visa Program offers innovative entrepreneurs the opportunity to establish their businesses in Canada and obtain permanent residency. This program targets individuals with the potential to build companies that are innovative, can create jobs for Canadians, and can compete on a global scale.
Eligibility Requirements
Qualifying Business:
- Each applicant must hold at least 10% of the voting rights in the business.
- Together with the designated organization, applicants must hold more than 50% of the voting rights.
- The business must be incorporated in Canada, with essential operations occurring within the country.
Letter of Support:
- Secure a commitment from a designated organization (venture capital fund, angel investor group, or business incubator) to support your start-up.
- Obtain a Letter of Support from the designated organization to include in your application.
Language Proficiency:
- Achieve a minimum Canadian Language Benchmark (CLB) level 5 in speaking, listening, reading, and writing in English or French.
- Achieve a minimum Canadian Language Benchmark (CLB) level 5 in speaking, listening, reading, and writing in English or French.
Settlement Funds:
- Demonstrate sufficient financial resources to support yourself and any dependents upon arrival in Canada. The required amount varies based on family size and is updated annually.
- Demonstrate sufficient financial resources to support yourself and any dependents upon arrival in Canada. The required amount varies based on family size and is updated annually.
Application Process
Secure Support from a Designated Organization:
- Identify and pitch your business idea to a designated organization.
- If the organization agrees to support your start-up, they will provide a Letter of Support.
Prepare Your Application:
- Gather all necessary documents, including the Letter of Support, language test results, proof of settlement funds, and other supporting materials.
Submit Your Application:
- Apply online through the Permanent Residence Portal.
- Ensure all forms are completed accurately and all required documents are included.
Obtain a Work Permit (Optional):
- While your permanent residence application is being processed, you may apply for a temporary work permit to begin building your business in Canada.
Await Decision:
- Immigration, Refugees and Citizenship Canada (IRCC) will review your application and inform you of their decision.
VIEW MORE DETAILS
The Start-Up Visa Program is designed to attract innovative entrepreneurs who can contribute to Canada’s economy. The program emphasizes the importance of securing support from designated organizations, which play a crucial role in assessing the viability and potential of proposed business ventures. Applicants are encouraged to research and approach these organizations with well-prepared business proposals.
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I’m Rashid Ali, a Licensed Canadian Immigration Consultant, having a designation of RCIC (Regulated Canadian Immigration Consultant) from the College of Citizenship & Immigration Consultants of Canada or CICC (Previously known as ICCRC). CICC is the official regulator of immigration consultants in Canada. I’m also a member of the Canadian Association for Professional Immigration Consultants (CAPIC).
