What Is Canada's Start-Up Visa Program for Entrepreneurs?

  • Qualifying for Canada\'s Start-Up Visa program for entrepreneurs requires the following:

  • Have a Letter of Support from a designated angel investor group (must secure at least $75,000 in support from this group)

  • OR venture capital fund (must secure at least $200,000 from this group)

  • OR business incubator (no initial investment from this group required)

  • You will have to pass standard health and security checks

  • You must have at least one proven year of study at a post-secondary institution

  • Meet the Canadian language benchmark (CLB) 5 in all four categories (reading, writing, listening and speaking) in either English or French

  • Must meet the low income threshold as set by Immigration, Refugees and Citizenship Canada) and provide for the cost of living before earning any income.

  • You will need to demonstrate that you have adequate income to support yourself while establishing the business (as well as your family if you have one immigrating with you).

  • You cannot borrow this money from another person. You will need to prove you have this when submitting the application.

  • The application fee for the primary applicant is $1050 not including the right of Permanent Residence fee ($490)

  • Entrepreneurs must have a business that meets the ownership requirements:

  • Up to 5 people can apply for a Start-up Visa

  • Each of those applicants must have at least 10% of voting rights or more in that particular Start-up

  • The designated angel investor group or venture capital fund or business incubator and the applicants must jointly hold more than 50% of the voting rights

  • Learn More: http://www.ackahlaw.com/our-expertise/temporary-residence-folder/self-employed-applications-for-permanent-residence-in-canada-2/

  • Evelyn Ackah is a Canada immigration law expert and founder and managing lawyer at Ackah Business Immigration Law. Contact Evelyn: contact@ackahlaw.com

This checklist was created by evelynackah

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