Canada has been calling all entrepreneurs with innovative business ideas with its Start-up Visa program. Canada remains a prime destination of choice for immigrants with its various immigration programs and high foreign population in the country. The start-up visa program is one of the immigration programs for people looking to find permanent residence in Canada.
Start-up Visa Program
Canada’s start-up visa program provides an opportunity to entrepreneurs to find permanent residency in Canada. Immigrant entrepreneurs can establish an innovative new business in the country if they prove that their business will create jobs for Canadians.
Things to Know About the Start-up Visa Program
Apart from meeting the admissibility requirements to enter the country, there are some eligibility requirements for the Start-up visa program. The requirements include:
1. Candidates must have a qualifying business
Candidates applying for the start-up visa program must have a qualifying business i.e., the candidate should have at least 10% of voting rights in the company individually, and 50% voting rights jointly with the designated organization.
2. Candidates must have a letter of support from one or more designated organizations
Candidates applying for the start-up visa program need to get support from one or more designated organizations which can be; venture capital funds, angel investor groups, or business incubators. These are the business groups that are approved to invest in or support start-ups through the start-up visa program.
3. Candidates must fulfil the language requirements
Candidates must be able to meet the minimum level of Canadian Language Benchmark (CLB) 5 in English or French. For this, candidates need to take a language test from an approved agency and prove their proficiency in speaking, reading, listening, and writing.
4. Candidates must be equipped with enough capital to settle and live in Canada before making any money from the business
The candidates must have enough money to support themselves and their business throughout the settlement period in Canada. The applicants must show proof of capital that can support them and their families. The amount of money depends on the number of dependents that the candidate has.
The start-up visa program is a pilot program under which applications are limited to 2750 per year. You would need everything to be accurate and in place to build a strong case for your business.
Our immigration lawyers can help you build a strong case and help you throughout the application process for the start-up visa program. At Nanda and Associate Lawyers Professional Corporation, we have a team of experienced immigration lawyers in Milton whom you can contact to get a free consultation and start building the application for the start-up visa program.
Disclaimer: This article is only intended for educational purposes and shouldn’t be used as a substitute for legal advice.
