Start-up Visa Program
The Entrepreneur Start-up Visa Program is a new Canadian immigration pilot project and is the first of kind in the world. This program connects Canadian business organization with immigration entrepreneurs who have the skills and potential to build innovative business in Canada.
If you can get support from a designated Canadian organization (venture capital funds, angel investor groups and business incubators) then you can immigrate to Canada as a permanent resident in under 1 year.
Who can apply
To be eligible for the Start-up Visa Program, you must:
have a qualifying business
Three to five people can apply for the same business so long as:
> Each applicant controls at least 10% of the voting rights of the business.
> The designated organization and the applicants together control more than 50% of the business' voting rights
2. get a letter of support from a designated organization
You must convince a designated organization to invest in your proposed business. If you reach an agreement, it will send you a letter of support. The organization will also have to provide a Commitment Certificate directly to Citizenship and Immigration Canada.
3. meet the language requirements
You must prove that you meet of exceed the Canadian Language Benchmark (CLB) 5 in either English of French in speaking, speaking, listening and writing.
4. bring enough money to settle
You need to give proof that you have the money to support yourself and your family after you arrive in Canada. The amount depends on the size of your family. For instance, 4 members are 23,542. For 5 members are 26,701 etc.
5. security and medical clearance
You must undergo a security clearance and a medical examination to determine whether you pose a security threat or have a health condition that would place an excessive burden on the Canadian health care system.
The Applicant Process
If you meet all of these requirements and once your completed application has been accepted, Immigration, Refugees and Citizenship Canada (IRCC) will issue you a permanent resident visa. This visa includes your Confirmation of Permanent Residence (COPR) and your entry visa.
Why This Program Is Interesting?
> The fastest timeline : work permit in 60 days. Average processing time is 12 months.
> No special skill requirements,
> No asset requirements,
> No income requirements,
> No proof of income requirements,
> No investment required.
What If The Business Fails
If your business fails, your permanent resident status is not affected.