Canada’s start-up visa program aims to help innovative entrepreneurs migrate to Canada by getting support from Canadian private sector businesses such as angel investor groups, venture capital funds or business incubators. The supporting partner also facilitate the establishment of applicant’s start-up business in Canada.
The program gives entrepreneurs the opportunity to immigrate to Canada in order to establish a new business. Canada Start Up Visa program grants Canadian permanent residence to qualified immigrant entrepreneurs.
The applicant must demonstrate that their business will ensure the creation of more employment opportunities and global competition. The immigrant entrepreneurs must have a sound, innovative, and scalable business idea which is supported by the designated authorities and this will open doors for the applicant’s immigration to Canada.
Applicants to Canada’s Start-Up Visa program must meet five basic eligibility requirements: Have a qualifying business; Obtain a commitment from a designated entity in the form of a Commitment Certificate and Letter of Support;Have sufficient unencumbered, available and transferable Settlement Funds updated each year (the requirements identical to those for skilled workers);Demonstrate sufficient proficiency in English or French through standardized testing (Canadian Language Benchmark level 5 Language Test Equivalency Charts) ; No inadmissibility due to Security and/or Medical issues
NOTE1: Use this official link for Settlement Funds for Star-up Business Visa
NOTE2: Use The following official Link for Language Test Equivalency Charts
You and your family members need to undergo a security clearance and a medical examination in order to determine whether you:
Successful candidates will receive a letter of support from a government-designated entity (angel investor group, venture capital fund or business incubator).
The government-designated entity is primarily responsible to determine the viability of the applicant’s intended business and present an approved project along with a Commitment Certificate to immigration authorities. List of Designated Entities
NOTE3: Use the following official Link for List of Designated Entities
The required commitment from a designated entity must meet the following criteria:
If you are interested in immigrating to Canada through the Entrepreneur Start-up Visa program, the first step is to find a Canadian angel investor group, business incubator, or venture capital fund to back you up. At least one of these entities must be willing to invest in your new start-up.
Mind you, the investor organization must be a designated angel investor group, a qualified business incubator program, or a designated venture capital by the Canadian government to take place in the Entrepreneur Start-up Visa program.
Each fund or group has its own application. Chances are, you will need to contact these groups and apply through various processes to submit and present your business idea to them. While some parties may expect you to have a complete business plan, others may not.
Spend some time researching these groups. Visit their websites and analyse what sort of start-ups they are interested in. Each group or fund may have varying objectives and choose to invest in specific sectors or types of businesses. On their websites, you may also find an outline of their application process.
Once you submit your idea and convince one of the designated incubators, angel investor groups, or venture capital funds to support your business, they will send you a letter of support. They also provide the IRCC with a completed Commitment Certificate. The certificate lays out the details of the agreement and commitment between the designated organization and the candidate.
You may very well receive support from more than one investor. This is referred to as syndication. In this case, the organizations supporting you will provide one joint Commitment Certificate to IRCC.
The process to pitch your idea is different for each organization. Each organization has its own requirements. For example, you may be asked to present your business concept in person or submit a detailed business plan.
If you reach an agreement with a designated organization, it will send you a letter of support. You need to include this letter when you submit your application to us. This is the proof you need to show that the venture capital fund, angel investor group, or business incubator is supporting your business idea.
The organization will also send a commitment certificate directly to us. We’ll use both your letter of support and the organization’s commitment certificate to assess your application. Please note, we may ask you for more business information in order to take a final decision on your application.
If you don’t include the letter of support or meet any of the other requirements, we’ll refuse your application.
Up to five applicants may have their application for permanent residence supported by the same business investment. However, certain applicants may be designated essential to the intended business. If any of the essential applicants withdraw their application or are refused for other reasons, all other applicants under the same business investment will see their applications terminated.
Applicants who have secured a Commitment Certificate from a designated entity, and who wish to begin working in the business during the processing of their permanent residence application may be able to apply for a short-term work permit
Once you have the letter from your investor or investors, you are now ready to apply for your Start-up Visa provided you have all other documents available.
Applicant must provide for his Work Permit Application:
For permanent residency, the following criteria must be met:
Complete List of Documents required for Work permit and PR
Note; Canada’s Start-Up Visa program does not apply to applicants who intend to reside in the province of Quebec.
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Designated entities that may support an application under the Start-Up Visa program are:
NOTE: Use links for all Designated Entities from below official link only:
Designated venture capital funds
Designated angel investor groups
Designated business incubators