Introduction 

Canada’s Start-up Visa Program has been introduced for immigrant entrepreneurs who possess the skills and ability to build businesses in Canada that are innovative, can contribute to the Canadian economy, and can compete on a global scale. Such capable entrepreneurs and their families are given legal rights as Permanent Residents and a healthy environment to grow their business in. After becoming a Permanent Resident, they can move on to get Canadian Citizenship after completing the residency requirement of three years. 

To help establish these businesses, the Canadian government has approved certain organizations, known as the Designated Organizations (DO), to go through the proposed business plan and approve it. Once approved, these organizations issue a Letter of Support (LOS) to the entrepreneurs and, based on that letter of support, those entrepreneurs can apply for Canadian PR. There are three types of DOs that an entrepreneur can get LOS from:

1. Venture capital funds – Commit to invest CAD 200,000 in the business and issue a LOS
2. Angel investor groups – Commit to invest CAD 75,000 in the business and issue a LOS
3. Business incubators – Accept the business in their incubator program and issue a LOS.

Eligibility

The following explains the requirements set by the Immigration, Refugees and Citizenship Canada (IRCC) to apply under Canada’s Start-up Visa Program:

1. The applicant has at least 10% shares in a qualifying business and plays an active part in the management of the business 
2. The applicant has a valid Letter of Support issued by a Designated Organization
3. The applicant meets the language requirements by taking CLB 5 in IELTS (General), which means the following bands: Listening: 5 Reading: 4 Writing: 5 Speaking: 5
4. The applicant brings in enough money to settle in Canada. You have to show this money as liquid funds in your bank. The amount depends upon the family size, as per the following formula:

The following document/information will be required to complete the application package that will be prepared by Immigration Hub:

Required Documents:

1. Passports of all the family members included in the application
2. Birth Certificates of all the family members included in the application
3. Marriage certificate, where applicable 
4. IELTS result 
5. Police certificates for all the applicants more than 18 years of age, from each country where they have lived for more than 6 months in a row since the age of 18.
6. Photos 
7. Bank statement

Required Information:

1. Personal information 
2. Family information including; names, date of births, addresses, and occupations of parents and siblings of all the applicants and their family members included in the application. 
3. Travel information including details of international travels for the last 5 years. 

Our service

At Immigration Hub, we have collected all the resources required to process a successful case under one roof. We are successfully providing end-to-end services to our clients starting right from the inception/polishing of the business idea to its practical implementation and then to the final approval of the PR applications of all the applicants. 

For more information, please contact us.