START-UP VISA: NEW OPPORTUNITIES FOR FOREIGN ENTREPRENEURS

Did you know if you have a business idea, you may be eligible to immigrate to Canada through the start-up visa program? The Start-Up Visa program is a fast-track option for international entrepreneurs to immigrate to Canada by starting an innovative business that will advance the Canadian economy, create jobs for Canadians, and compete globally.

Eligibility requirements

Generally, you must meet four main requirements:

1. Have a qualifying business.

You must hold at least 10% of the voting rights attached to all shares of the company. Together with the designated organization, you must hold at least 50% of the voting rights attached to all shares of the company.

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

You must demonstrate that you have secured a minimum of $75,000 from an eligible venture capital fund or a minimum of $200,000 from a Canadian venture capital fund recognized by the government of Canada. Pitch your business idea and if it is successful, you could receive a Commitment Certificate and Letter of Support from the organization which must be included in your start-up visa application. Unlike federal and provincial investor programs where applicants must invest their own capital, no investment of their own funds will be required.

3. Meet the language requirements.

You must take a language test from an approved agency and include the results with your application.

4. Have enough funds to settle and live in Canada before you make money from your business.

You’ll need to give proof that you have the money to support yourself and your dependents after you arrive in Canada. You can’t borrow this money from another person. Check the requirements here.

To learn more about this immigration program, check its official website.

Please note Astrum Consulting does not provide immigration advice or services. We help entrepreneurs to register a business in Canada and comply with federal and provincial laws and regulations. We also work with licensed immigration professionals that can help with your the Start-Up Visa application.

Have further questions? Contact us at info(@)astrumconsulting.ca