Start-up Visa
This program offers an opportunity for entrepreneurs to immigrate to Canada to set up a new business. Canada welcomes those entrepreneurs who have innovative business ideas which can help in expanding Canada’s economy.
Eligibility Requirements:
There are 4 eligibility requirements to qualify for the Start-Up Visa program.
An individual must:
- Have a qualifying business. An individual should have at least 10% of the voting rights attached to shares of the company. An individual should have at least 50% of the voting rights attached to shares of the company if he is working together with the designated organization.
- Have a letter of support from a designated organization. One needs to show that he has the support of some angel investor group or some business organization. One can get the support of some organizations by convincing them that their business proposition is worth the investment. The interested organization will provide you with a letter of support which should be included with the visa application. One needs to provide proof that his business will be supported by some designated organization. One must secure at least $75000 from an angel investor in Canada or at least $200,000 from a Canadian venture fund recognized by the Government of Canada.
- There is a list of designated organizations that are recognized by the Government of Canada.
- Meet the language requirements- must score min level CLB 5 in either French or English. CLB 5 should be sored in all four sections- reading, writing, speaking, and listening.
- Have enough funds to settle in Canada before one starts earning from the business. Funds depend on the family composition. i.e. the number of family members.