The Canadian Start up-Up Visa is an outstanding immigration route for eligible entrepreneurs to start or expand a business in Canada. Accepted applicants will be granted unconditional, irreversible Permanent Residence status in Canada based on their plans to start a business in the country. It’s not like specific company initiatives that give out temporary permits. The visa is permanent and irrevocable for the entire family under this program.
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
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
Must have a letter of support from a designated organization (a business group that has been approved to invest in or support possible start-ups) :
• You must show that you have received funding from a venture capital firm, an angel investor organization, or a business incubator.
• If the applicant is accepted into the Canadian business incubator program, no investment is required.
• Minimum investment of $200,000 CAD if the investment comes from one or more designated Canadian venture capital funds.
• Minimum investment of $75,000 CAD if the investment comes from two or more Canadian angel investor groups.
• You must propose your company idea to the organization and persuade them that it is worthwhile to support.
• The strategy to pitching a business idea must be unique.
• If your pitch is accepted, the organization will provide you a letter of support, which you must submit with your start-up visa application.
Comply with language requirements:
• Minimum Canadian Language Benchmark (CLB) 5 level in either English or French.
Evidence of funds:
On arrival in Canada, you must have sufficient settlement funds to sustain yourself and any dependents in Canada. The amount you will require is determined by the size of your family as per current LICO for urban areas with population of 500,000 and more.
The Comprehensive Ranking Mechanism (CRS) is a point-based system used by the Express Entry Pool to rate its candidates. Scores are assigned based on the following types of information in your profile:
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By injected humour, or randomised words which don't look even more slightly believable. If you are going hidden in the middle of text.
