Start-up Visa Program
Start-up Visa Program
Innovative thinkers who can create jobs for Canadians, who can compete with international businesses, and who have the intention to set their business up in Canada can utilize the Canada Start-up program.
Canada with its strong economy, competitive taxes, low business costs, good infrastructure and environment for research and innovation along with high quality life; has been one of the best places to start a business.
If you want to apply to the Canada Start-up Visa Program, then you need to
- Before you (the entrepreneur) apply for the Start-up Visa Program, you must have obtained support from a designated organization which have been officially authorized to do so by the Canadian Government. Such designated organizations are setup, to guide you to invest and support. You would receive a LETTER OF SUPPORT from the designated organization which decides to support your Start-up in Canada. This document is very important.
- If your investment comes from the designated organization in Canada, then you must secure a minimum of $2 million as investment
- If your investment comes from a designated Angel investor group from Canada, then you need to secure a minimum of $75 thousands as investment
- If you are part of the business incubator program, then you need not secure any investment from such business incubator. For this, you should have been accepted into the Business Incubator Program
5 or lesser number of people can apply for the Start-up Visa program as owners. However, each
one such applicant should have
- A minimum of 10% of voting rights in the business and
- Both the applicants and the designated organization must jointly have more than 50% of the voting rights (The right to vote directly depends on the number of shares each business partner and the designated organization hold in the new venture)
- You (the applicant who is the entrepreneur) must provide document proving successful results, you obtained in the language test conducted by an approved agency. (CLB -5 in all 4 abilities of Reading, writing, speaking and listening)
- You must provide documents to show your financial viability when you move to Canada. You should be in a position to support yourself and your dependents after you arrive in Canada. At any given point of time, you cannot borrow money in Canada.
You can be the founder or co-founder of the organization. Your age nor your background matters under this program. The business idea is what matters the most. It should be raw, innovative and early seed stage. It should be for-profit organization. If your application is successful, then you will receive a letter of invitation from the APS recommended education facility to help you obtain your right VISA. It would be nice if you have obtained a post-graduation degree,
A business incubator is a company authorized by the Canadian Government to help start-up companies by providing services to the Start-ups in the management training or providing office space or such other needs.
Such organizations, help the Canadian government by reviewing and assessing the many business proposals that come to them. If your business proposal gets approved by one such organization, then you get a LETTER OF SUPPORT. There are 3 kinds of organizations who do this. They are either the Designated Business Incubators or Designated Angel investor groups or Designated Venture Capital Funds group.
How CANEX Immigration can help you
- We counsel you to get an understanding about your need and guide you accordingly
- Our team will help you in setting up your interaction and further strengthen relationships between you and your designated organization, to help you get the LETTER OF SUPPORT.
- We are an ICCRC registered company and we can help you gallop over the whole porcess smoothly.