Startup Business Class

Canada Start-Up Business Visa Program

Canada Start-Up Business Visa Program, officially known as Canada Start-Up Class, this is a platform through which qualified immigrant entrepreneurs can get a Canadian PR. The main purpose of this program is to attract innovative entrepreneur and create employment in Canada also links them with investors in Canada to establish a start-up business.

An applicant can come to Canada and work on his/her business project through a work permit. The work permit must be supported by the Canada-based designated investor. Once the business is established, an entrepreneur can apply for a Canadian PR.

 

There are three types of investors under this stream;

• Angel investor.

• Venture capital fund.

• Business incubator.

 

Designated Entity (Investor)

As mentioned above, there are three kinds of investors – Angel Investor, Venture Capital Fund, and Business Incubator.

• Designated Angel Investor group – Must confirm that they are investing at least $75000 into a qualifying business.

• Designated Venture Capital Fund – Must confirm that they are investing at least $200,000 into the qualifying business.

• Designated Business Incubator – must accept the applicant into its business incubator program.

 

Support from Designated Entity

An entrepreneur must have a viable and sound business plan. The plan should meet the requirements of the government approved designated entities. An intending immigrant can contact a business consultant in Canada to make sure the business plan is meeting the industry requirements.

Eligibility (Candidate)

• A candidate must have aCommitment Certificate and Letter of Support from a designated entity.

• A candidate must havedebt-free, sufficient, available, and transferable funds.

• A candidate must haveproficiency in English or French at minimum Canadian Language Benchmark level 5.

• Qualifying business.

 

Business Ownership Requirement

• The proposed business should be set up and operational in Canada.

• The candidate must own at least 10 percent of the voting rights in the business.

• The candidate and the designated entity jointly hold more than 50% of the total voting rights.

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