START UP VISA PROGRAM OF CANADA

If you are an entrepreneur with an innovative business idea, you may be eligible to immigrate to Canada through the start-up visa program. Canada is looking for talented entrepreneurs that are interested in starting businesses that will stimulate the Canadian economy while creating employment opportunities for its residents.

 Advantage of Start-up Visa Program

   - No minimum Net Worth requirement;

   - Scope of application for Temporary Work Permit (includes spouse and children) while already applied for Permanent Residence;

   - No investment;

   - No age limit.

   -CLB 05 in English

 

 There are four requirements to be eligible for a Canadian start-up visa:

1.  Have a Qualifying Business in Canada (ILCB will help):

  • You must hold at least 10% of the voting rights attached to all shares of the company
  • Jointly with the designated organization all owners you must hold at least 50% of the voting rights attached to all shares of the corporation; 
  • At the time you receive your permanent residence:

           - you provide active and ongoing management of this business from within Canada;

           - an essential part of the operations of the business happens in Canada;

           - this business is incorporated in Canada;

2.  Have a letter of support from a designated organization:

  •  You need to show that you have the support of a venture capital fund, angel investor group, or  business incubator
  •  In order to do this, you must pitch your business idea and convince the organization that it is worth supporting
  •  If your pitch is successful, you will receive a letter of support from the organization which must be included in your start-up visa application 

3. IELTS (General Trainers): Canadian Language Benchmark (CLB) of 05 in English.

4. Proof of funds/ Settlement funds:

  •  You need to show that you have enough money to support yourself and any dependents once you arrive in Canada. The amount you need depends on the size of your family (Minimum $25,000 for a family of 04)

 

                            Letter of Support from Designated Organizations for start-up visa

As part of the eligibility requirements, you will need to provide proof (Commitment Certificate and Letter of Support) that your business is in fact supported by a designated organization (a business group that has been approved by the government to invest in or support possible start-ups). Unlike federal and provincial investor programs, where applicants must invest their own capital, no investment of their own funds will be required.

ILCB has developed relationship with number of Partners such as Investors, Business Incubators, and Professional Consultancy firms having the necessary expertise to assist the clients with their SUV applications. 

Application Process:

  1. Applicant’s profile assessment; 
  2. Prepare a business plan/business model;
  3. Receive a Letter of Support from designated entity or entities after approving proposed plan;
  4. Submission of Permanent Residence application as per the document checklist;
  5. Submission of work permit application;
  6. Application approval.