Immigrant Entrepreneur Start-Up Visa program
This program will connect promising foreign entrepreneurs to Canadian organizations that will assist in start-up operations to build companies in Canada. The purpose of this program is to sign up innovative foreign entrepreneurs who will create new jobs and drive economic growth in Canada.
Immigrant entrepreneurs hoping to launch cutting-edge businesses in Canada and attain permanent resident status need the support of participating Canadian investors.
To be eligible for the Immigrant Entrepreneur Start-Up Visa program one must:
- Prove their business is supported by a Designated organization with a “Letter of Support”.
- Show their business meets ownership requirements.
- Meet language requirements of at least CLB 5 for either English or French.
- Enough settlement funds prior to earning an income.
Designated organization are groups that have been approved to invest or support start Ups. A Letter of Support is issued if it decides to support a Start up.
Designated organizations are of 3 types:
- Designated Venture Capital Funds.
- Designated Angel Investor Groups.
- Designated organization Business incubators.
Designated organizations choose which business proposals to review, assess the potential of proposals and whether or not it will succeed. If it chooses to support a business proposal, it issues a Letter of Support.
LETTER OF SUPPORT:
Investor organization must submit a completed Commitment Certificate directly to IRCC which includes the agreement between the applicant and the investment organization and summarizes the relevant particulars of the commitment between the investment organization and the applicant.
The applicant will also receive a Letter of support from the investment organization, which the applicant will need to submit with their application for Permanent residence.
The program will grant Canadian Permanent Residency to successful applicants. In order to apply for permanent resident status in Canada, an applicant must meet the following requirements:
- Has received a Letter of support showing a significant investment commitment from a government designated Canadian angel investor group or venture capital fund.
- Must also demonstrate language proficiency skills at a Canadian Language Benchmark CLB 5 in listening, speaking, reading and writing in English or French.
- Have at least one year of education at a post-secondary institution.
- Has sufficient settlement funds to settle in Canada.
Start Up Visa Investment Details:
Applicants are required to secure a minimum investment for their Canadian start-up.
- Investment must be at least $200,000 if coming from a designated Canadian venture capital fund.
- Investment must be at least $75,000 if coming from an angel investor group.
- Do not need Investment from Business incubators but should be accepted into a Canadian Business incubator program.
We are Licensed Immigration Consultants authorized by the Canadian Government to advise, represent and consult on Immigration matters bearing Membership No: R416183 from the Immigration Consultants of Canada Regulatory Council. www.iccrc-crcic.ca.
A New Beginning
Canada wants to attract new immigrants on an annual basis with the emphasis firmly focused on immigrants with economic and professional skills from every part of the world.
In Canada you can start a new life, with never-ending opportunities ahead of you. We will help you plan your transition to the new way of life in Canada carefully, patiently and knowledgably.