Canada Start-up Visa

 The Canadian start-up visa program was launched in 2013. It is designed for entrepreneurs with the skills and potential to build businesses in Canada that are innovative, can create jobs for Canadians, and can compete on a global scale. The program aims to connect these entrepreneurs with organizations in Canada that can assist them in realizing their projects. 

Program Requirements 

The applicant must: 

1) Own a qualifying business; Applicants, whether alone or as a group (up to 5 applicants), must own more than 50%, with each applicant owning at least 10% of the shares. 

2) Get a letter of support from a designated organization, authorized by the Canadian Government. This could be either

 * Venture capital fund, or

 * Angel investor group 

 * Business Incubator

3) Meet the minimum language requirements of at least CLB 6 in speaking, and listening.

 4) reading and writing in either English or French. Bring enough money to settle in Canada with their families.

 Eligibility Criteria

  1. i) Net Worth: No minimum requirement for Investment 
  2. ii) Invest USD200,000 in Canadian Business 

iii) Age: No age requirement iv) Experience: Minimum 1 year of experience v) Language Proficiency: At Least CLB 6 in Speaking, Listening, Reading, and writing in either English or French 

  1. vi) Education: Higher secondary or above Criminal Record: Should not hold any criminal history

 vii) Medical Record: Should not hold any serious health condition.

What is the minimum investment that you need to apply through the Startup Visa Program?

 If the investment comes from a designated Canadian venture capital fund, you must secure a minimum investment of $200,000. 

If the investment comes from a designated Canadian angel investor group, you must secure a minimum investment of $75,000. 

You don’t need to secure a financial investment from a business incubator. You must be accepted into a Canadian business incubator program.

 Additional costs: 

  1. i) Application fees: –
  2. ii) Main Applicant: CAD$ 1,540

iii) Spouse: CAD$ 1,040 

  1. iv) Dependent child: CAD$ 150
  2. v) Permanent Residency Card: CAD$ 50 per applicant Business 
  3. vi) Consultancy fees: This is associated with the assistance in drafting the business plan. To be discussed. 

vii) Legal fees: To be paid after the issuance of a letter of support and while submitting a request for Permanent Residency.

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