The Government of Canada is seeking investors, business managers and entrepreneurs who are interested in settling or making new opportunities across the country. Canada’s Startup visa is designed to attract the world’s best and brightest entrepreneurs. It offers a fast-track immigration process that lets new business owners become permanent residents in Canada if they can demonstrate the business skills needed to grow their company in this country.
Under the Startup visa, you must show that your business has a unique and innovative idea not currently presented in Canada. You must also meet certain requirements related to language abilities and business ownership. The process of becoming a permanent resident through this program is fast-tracked, with the goal of getting entrepreneurs settled in Canada within one year.
Eligibility for the Startup Visa program
In order to be eligible for the program, the business owner must obtain a letter of support from a Designated Business Organization. There are three types of such investors: venture capital funds, business incubators, and angel investor groups.
Investments required for Startup Visa Program
-a designated Venture Capital Fund must invest at least $200,000 CDN in your business
-an Angel Investor Group must have made investments totalling at least $75,000 CDN in your business
-a Business Incubator does not need to invest into your startup, but you must successfully graduate from the program in the incubator
Why Canada?
Canada’s Startup Visa Program offers world-class benefits for entrepreneurs coming to this country including:
-a fast-track immigration process
-low processing fees compared to other visa programs
-advice and assistance from a designated business organization
What are other eligibility requirements for the program?
Other eligibility requirements include:
– The business owner must be able to speak one of Canada’s official languages well enough to participate in business activities.
– The business owner must have a qualifying business
– The business owner must get a letter of support from a designated organization
– The business owner must bring enough money to settle in Canada
Can I bring my family with me under this program?
Spouses and children under the age of 22 can apply for PR to come to Canada with you.
How many people can apply under one startup application?
Up to five startup founders can be included under one project. This means you can include four business partners in your startup given they all play a vital role in the project and possess at least 10% shares each. The total share of the owners must not be less than 50%.
What if my startup is not successful?
If your business under the Startup visa fails, you can still stay in Canada. You will have a permanent resident status regardless of the outcomes. No start-up business can guarantee its success, all you can do is take your best shot.
How can we help with a Startup Visa?
Our immigration consultants are here to help. We’re committed to providing the best service possible, and we want you to be as comfortable as possible throughout your entire experience with us. We’ll work closely with you every step of the way so that your application is successful and stress-free. We understand that immigrating to Canada is a big decision. That’s why we take the time to get to know our clients and their businesses so we can help them make the right choice about where they want to live and work. And once you decide on Canada, we will be with you every step of the way. We are here for you! If you have any questions regarding the Startup Visa Program or need help with business immigration matters please contact our office.
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