Immigrant entrepreneurs can apply for a start-up visa to immigrate to Canada to create a new business. Immigrant entrepreneurs must prove that their business is innovative, will create jobs for Canadians, and will compete internationally.
There are four basic eligibility requirements for Canada’s Start-Up Visa program:
DESIGNATED ORGANISATIONS LIST
It is mandatory to get a letter of support from a designated organization (a business group that has been approved to invest in or support possible start-ups).
To get started, you’ll need to:
Canada’s Start-Up Visa Program offers permanent residence to qualified immigrant entrepreneurs. It is officially known as the Canada Start-Up Class. However, it is most commonly referred to as the Start-Up Visa Program.
This program helps innovative entrepreneurs establish their start-up businesses by connecting them with private sector investors in Canada.
Once a business is established in Canada, candidates can qualify for permanent residence with a work permit supported by their designated Canada-based investor.
Private-sector investors fall into three categories:
Start-Up Visa candidates must meet the following basic requirements:
Angel investors, venture capital funds, and business incubators are designated entities.
Commitment must meet the following criteria:
In order to qualify for permanent residence, the candidate must:
It is possible to support a permanent residence application for up to five candidates with the same business investment. Certain candidates are, however, deemed essential to the business. All other candidates under the same business investment will be terminated if any essential candidate withdraws, or is refused.
Candidates with a Commitment Certificate from a designated entity can apply for a short-term work permit. The designated entity must support the application.
In order to qualify for permanent residence, you must:
An intending immigrant entrepreneur to Canada must have or must develop a viable business project that will meet the due diligence requirements of government approved designated entities. A business consultant in the start-up ecosystem of Canada along with experienced corporate business immigration lawyers will typically ensure that a company’s startup business plan meets all industry requirements.
A commitment certificate/letter of support from a designated entity will take approximately 4-6 months to be secured by an entrepreneur with a viable start-up business project. After receiving a letter of support, permanent residency applications can be submitted. It will take about 18 months to finalize the application for visas.
Through our Toronto based facilities, our firm works extensively with industry acclaimed designated entities in the Canadian start-up ecosystem. In order to help intending entrepreneurs immigrants meet all industry requirements, we offer a comprehensive range of hands-on business advisory services.
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