What is a Canadian Start-Up Visa?
The Start-Up Visa program gives Canadian permanent residence to immigrant entrepreneurs who are qualified. This program is designed to onboard innovative entrepreneurs to Canada and connect them with private sector businesses in Canada. This can include angel investor groups, venture capital funds, and business incubators and help with the establishment of their new start-up business.
Candidates who are approved will receive a letter of support from a government designated group. The government designated entity is mostly responsible to make a determination if the applicant’s intended business is viable and then present the proposed project with a Commitment Certificate to immigration authorities.
Applicants interested in the Start-Up Visa program need to meet four eligibility requirements:
The requirement of commitment from a designated entity which must meet one of the following:
In addition, in order to qualify, the proposed business must be incorporated as well as doing business in Canada when the commitment is made and:
There can be up to five people that may have their application to request permanent residence supported by the same business investment. However, there can be some individuals that can be deemed essential to the intended business. If an essential applicant retracts their application or is refused, all other applicants will see that their applications are turned down as well.
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