What is the Canadian Start-Up Visa Program?
Canada’s Start-up Visa Program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that:
are innovative
can create jobs for Canadians
can compete on a global scale
Who can apply
To be eligible for the Start-up Visa Program, you must:
have a qualifying business
get a letter of support from a designated organization
meet the language requirements
bring enough money to settle
What is the minimum amount of money to bring to settle?
The minimum amount of money required in the program is given through the following table. It is recommended that you understand the cost of living in the area you wish to reside and prepare your finances accordingly.
What are the language requirements?
The ability to communicate and work in English, French or both languages will help your business succeed in Canada.
You must take a language test from an approved agency
You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all of these four areas:
speaking
reading
listening
writing
The conversion of CLB 5 to the two approved tests are found below,
It is important to meet each individual ability in order to meet the requirement of CLB 5.
What kind of Business is Eligible?
Have a qualifying business
A qualifying business means you created a business that meets the following conditions:
At the time you get a commitment from a designated organization:
each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners)
AND
applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time
At the time you receive your permanent residence:
you provide active and ongoing management of this business from within Canada
an essential part of the operations of the business happens in Canada
this business is incorporated in Canada
How do I obtain a letter of support from a designated organization?
These organizations are approved by the government to operate in the Start-Up Visa category by either investing or supporting in qualifying businesses.
There are three types of approved private-sector investors:
Angel investor.
Venture capital fund.
Business incubator.
Potential businesses apply to these organizations (Incubators or Angel Investors or other Qualifying organizations) and obtain approval to go through the process of the organization in order to receive a letter of support. Each organization is different with its own sets of requirements.
You may have up to 5 members in a qualifying business. It is important to note that each member must individually be eligible and may delay the process for all other members. For example, The Canadian Government will not process any of the permanent residency applications until all five have been submitted. In this scenario it is also worthwhile to note that each member must submit their own application, in its own sealed envelope.
Why Contact Us?
Immigration is often a lengthy process with many small pieces of information required in order to ensure that there are no delays in your application. We are committed to ensuring all our clients obtain the best information available throughout the process as they embark on this long journey.
We will support you by providing expert resources as well as guide you along the way to ensure that you and your possible partners all apply correctly and obtain permanent residency.