Startup Visa Canada
Startup Visa Canada program provides entrepreneurs an excellent opportunity to immigrate to Canada by establishing a new business. Entrepreneurs with pioneering business ideas can be eligible for it. These entrepreneurs through this application must prove that their business is novel, can race and compete on a global scale and will create new jobs for Canadian residents.
It can prove to be an enormous opportunity for rising entrepreneurs to migrate to Canada whereas the country will benefit from new concept companies along with the talented entrepreneurs. They should be able to secure funding with designated investors companies approved in Canada. This particular visa program is designed in such way that it leads to permanent residence for worldwide entrepreneurs.
Advantages of the Startup Visa Program:
- This program is open to all countries
- A straight roadmap to permanent residence in Canada
- It allows up to 5 people partnership in the same business (minimum 10% of ownership by each individual is required)
- High prospects to relocate to Canada by acquiring a work permit while the PR application is in process.
- There is no net worth obligation or verification needed in this program.
To be eligible for the Canadian start-up visa, there are four basic requirements:
- A support letter or investment commitment from one of the Canadian designated organizations must be provided by the applicants/partners.
- Each partner/applicant must hold a minimum of 10% of voting rights in the startup business. The prospective partners/applicants and their designated organization must uniformly hold more than 50% of the entirety voting rights in the business.
- Each partner/applicant must be able to prove a score in English or French language skill at CLB level 5.
- Each partner/applicant must have adequate funds to settle in Canada depending on the size of the applicant’s family. They should be able to show the funds as per the family benchmark set by Canadian Government.