Start-up Visa

Start-Up Visa

Under this program, qualified immigrant entrepreneurs are given Canadian permanent residence. This program is launched with the target to take up innovative and skilled entrepreneurs to Canada and link their business with the Canadian private sector businesses and facilitate and help for the establishment of their start-up business in Canada.

The candidates who will be successful will then receive a letter of support from a government-designated entity such as an angel investor group, venture capital fund, or business incubator. The applications for the start-up visa are assessed on a pass-fail basis.

Applicants to Canada’s Start-Up Visa program must meet four basic eligibility requirements:

1. – The applicant should have a qualifying business.
2. – The applicant must obtain a commitment from a designated entity in the form of a Letter of Support and Commitment Certificate.
3. – The applicant must have sufficient available, and transferable settlement funds.

Start-Up Visa Settlement Funds (The year 2020)

1. The applicant must demonstrate sufficient proficiency in English or French through authorised testing (Canadian Language Benchmark level 5

The required commitment from a designated entity must fulfill the following criteria:

• – A designated business incubator should confirm that they are accepting the applicant into its business incubator Program.
• – A designated angel investor group must ensure that it is investing at least $75,000 CAD into the qualifying business, or two or more commitments from designated angel investor groups totaling $75,000 CAD
• – A designated venture capital fund should ensure that it is investing at least $200,000 CAD into the qualifying business or two or more commitments from designated venture capital funds totaling $200,000 CAD