The Business Idea must be supported by a Designated Organization in Canada from either Business incubators, Angel investor groups with $75,000 or more invested, or Venture capital funds with $200,000 or more investment. A Letter of Support is required from one of these designated organization and the same must be attached as a part of the application failing which the application may be refused.
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Start Up VISA Program
Start Up VISA Program
Canada is just about the best destination for any start-up. The following reasons would clear any lingering doubts.
Canada ranks among the top 10 countries in most living standard indices. Canada is a cost efficient country for businesses. Canada is a G7 nationa and one of the strongest economies in the world.
IRCC has launched a Start-up Visa Program for entrepreneurs with a will and desire to set up their businesses in Canada. Entrepreneurs should be willing to create new employment opportunities for the Canadians by setting up a new innovative business with a unique business plan that meets international standards and is globally competent.
Business Eligibility Criteria
Applicant Eligibility Criteria
Each applicant must hold 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. The applicants and the designated organization investor(s) must 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 must provide active and ongoing management of this business from within Canada, an essential part of the operations of the business need to take place in Canada, and this business must incorporated in Canada.
The applicants must also need to have enough money to suffice for yourself and settle your family in Canada as the Government would not provide financial support to the Visa holder.
Language Requirement
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 and include the results with your application, or we won’t process it. 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 and Writing.
Is your Consultant Registered?
Ensure your chosen consultant is licensed to practice by the Canadian Goverment. Immigration consultants must be a member of the Immigration Consultants of Canada Regulatory Council (ICCRC), Lawyers or notaries from a Canadian provincial or territorial law society, or the Chambre des notaires du Québec. Paralegals (Ontario only) must be members of the Law Society of Upper Canada. If they are not members in good standing, you should not use their services.