Canada

Startup-up Visa Program

Bring your Start-up to Canada. Corporate interest in Canada has dramatically increased since 2016, when the World Bank’s “Doing Business Project” named Canada the third-best place in the world to start or have a start-up business.

What is the start-up visa program and what makes it unique?

Canada’s Start-Up Visa Program is explicitly designed to link the country’s immigration policies to its economic goals. The program incorporates this by creating a straightforward path to rapid immigration via temporary work visa, followed by permanent resident status and eventually citizenship. Under Start-Up Visa Program, the immigrants would apply with the explicit support of venture capitalists or angel investors in Canada who promise to invest in their business ideas.

Who can apply for a Start-up VISA?

To be eligible for the Start-up Visa Program, you must:

  • Have a qualifying business – (applicant must hold at least 10% of voting rights attached to all outstanding shares of the corporation, applicants and designated organization jointly hold more than 50% of total voting rights within the firm).
  • Get a letter of support from a designated organization – (Start-Up Visa applicants must get a Letter of Support or a Commitment Certificate from a designated venture capitalist, start-up incubator or angel investor in Canada. Obtaining these documents indicates that your business idea is viable, and you have contracted with a reputable Canadian firm for support).
  • Meet the investment requirement – (Applicants must meet a minimum standard for the level of financial commitment promised to the start-up. Applicants working with a venture capital firm must secure a commitment of CAD $200,000, those working with designated angel investors in Canada must show proof of a CAD $75,000 (or greater) financial commitment. Applicants do not need to get financial investment from a start-up incubator, but they need to be accepted into an accredited start-up incubator program in Canada. Start-Up Visa applicants do not need to invest any of their own assets.
  • Meet the language requirements – (Applicants must demonstrate the fluency in either English or French equivalent to minimum CLB 5).
  • Bring enough money to settle – (The amount you must bring depends on the number of people coming along with you).

How to get support from start-up incubators or angel investors in Canada:

For many entrepreneurs, acquiring start-up capital from investment capitalists or angel investors marks a substantial milestone in their business development. That said, seeking investment commitment from designated organizations and angel investors in Canada as a part of the Start-Up Visa application process requires a distinctive focus.

  • Identify designated start-up incubators, venture capital firms & angel investors in Canada relevant to your business idea.
  • Contact relevant designated organization with your business plan & wait for them to research your business and proposal.
  • If they like your business idea, you will receive an invitation to meet and present your idea and business plan in person.
  • Receive an offer of investment commitment.
  • Submit your application for Start-Up visa.

GET EXPERIENCED ADVICE BEFORE YOU APPLY FOR CANADA’S START-UP VISA PROGRAM

Rightstep Migration team can help you bring your start-up business to Canada together with your family and business partners. You can focus on your start-up idea and we will focus on your permanent residence in Canada. Email us or book a consultation to work with an immigration consultant today!

Get in touch with us to know more about the process and information.

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