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Canada Start-up Visa Program has more takers now

Canada Start-up Visa Program

With the US planning to quash the start-up provision of its International Entrepreneur Rule, potential entrepreneurs are turning their attention towards Canada. Many international entrepreneurs have been directly affected by the move initiated by the Donald Trump government and are no longer able to start their businesses in the US. Canada Start-up Visa Program is becoming hugely popular among such entrepreneurs. A total of 200 candidates have already obtained Canada permanent residence under the program since February this year. These candidates have also started 130 new businesses in Canada. Proximity to the US and a nurturing environment for start-ups are the major factors that attract entrepreneurs to Canada.

Canada Start-Up Visa program

Canada launched the Start-Up Visa program as a five-year pilot project in 2013. It became a permanent program on March 31, 2018. Under the program, eligible immigrant entrepreneurs can obtain permanent residence in Canada. The program also connects these entrepreneurs with the private sector businesses in Canada such as angel investor groups, venture capital funds or business incubators.

Eligibility requirements for entrepreneurs

In order to qualify under the program, the entrepreneurs must meet the following basic eligibility requirements:

  • A Commitment Certificate or Letter of Support obtained from a designated entity
  • Sufficient settlement funds that are transferable
  • Have completed minimum one year of post-secondary education
  • Required level of language proficiency (English or French)

Eligibility requirements for businesses

  • The business must be incorporated
  • They must be running the business in Canada at the time of making the commitment
  • The applicant must own minimum 10% of voting rights in the corporation
  • No other person must hold 50% or more of the total amount of voting rights in the corporation.

Under the Canada Start-Up Visa Program, up to five persons can apply for permanent residence visa supported by the same business investment.

Contact us for more information on starting a business in Canada

Canada Startup Visa

Start Up Visa Program

Startup Visa Canada

Immigrating to a foreign land and establishing one’s own business has only been an unending dream for many over the decades. But with the Startup Visa Canada program, entrepreneurs with innovative business ideas can immigrate to Canada with the hopes of starting a new business & live a new life.

What is the Start-Up Visa Program?

The Startup Visa Canada is a program for foreign national entrepreneurs who wish to immigrate to Canada and start a new business or expand an existing one. The candidate should open or purchase, and then actively manage a qualifying business that positively contributes to and helps the growth of the Canadian economy.

Who Can Apply to Immigrate with A Start-Up Visa Canada?

If you are an optimistic entrepreneur who dreams high, looking forward to great opportunities and can contribute to the growth of the economy, then you are the kind of person Canada is exactly looking for. You can right away apply for a Canada startup visa and check whether you qualify for the same.

Start-up Visa Canada Requirements:

  1. In order to apply for the Start-up Visa Canada, the candidate must approach one of the five government-approved incubator programs with a viable business plan. The reason for submitting is to get the approval for funding.
  2. The candidate must provide proof of the BIAP recommendation.
  3. A government-designated entity should give the candidate a Commitment Certificate or a Letter of Support mentioning either one of the below statements:
  4. The business incubator program has accepted the investor’s business.
  5. Angel Investor Group confirming that it is about to invest at least $75,000 in the proposed business.
  6. Venture Capital Fund confirming that it is about to invest at least $200,000 in the business which the applicant has proposed.
  7. The candidate should be having a qualified business that is operating in Canada. The candidate should be owning at least 10% or more of the voting rights in the business h/she is doing.
  8. The Startup Visa Canada applicant should have a suitable business background free of debts, available and funds that are transferable to carry and settle in a province of Canada.
  9. The candidate should be having a minimum of one-year post-secondary education.
  10. The applicant who has applied for Startup Visa Canada must be able to demonstrate sufficient proficiency in English or French language through the standardized testing process (Canadian Language Benchmark level 5).
  11. Must intend to reside in a province other than Quebec.
  12. Must complete medical and security requirements.
  13. The candidate must show proof that he/she has enough funds for his/her stay in Canada.

Upon satisfying the pre-determined conditions for gaining a Canada startup visa, the candidate gets an Entrepreneur Visa or a Start-up Visa Canada allowing them to become Canadian permanent residents and then eventually become citizens of the country, allowing both personal & economic growth.

The British Columbia Entrepreneur Program and The Quebec Entrepreneur Program are two of the best Canadian Business Immigration programs available till date.

The British Columbia Entrepreneur Program requires the entrepreneur:

  1. To open a qualifying new business in the province, or significantly expand an existing one.
  2. To have a net worth of at least $600,000 CAD.
  3. To make a minimum investment of $200,000 CAD.
  4. To create at least one new job through his/her business.

The Quebec Business Immigration Program Requirements:

  1. The applicant/candidate should create or acquire a business in Quebec.
  2. The applicant should have a total net worth of at least $300,000 CAD.
  3. The candidate should be able to make a minimum investment of $100,000 CAD.
  4. The applicant should have at least two years of experience in operating & handling a business.

The following services are provided by CanApprove to help start and grow your business in Canada:

  1. Investors Visa
  2. Entrepreneurs Class
  3. Business Class
  4. Startup Visa Canada Program
  5. Self-Employed Person Program

The CanApprove team has been consistent in delivering Canada start-up visas for the past 20 years. We are well-known &reputed for our timely problem-solving methods and personalized advice we offer to clients. We guarantee a smooth, seamless experience by being there with you to answer all your queries and provide solutions.

For more information on Entrepreneur Visa and Startup Visa Canada, get in touch with our team of qualified consultants, skilled advisors, and highly trained instructors.