Canada offers start-up Visa Program to those immigrants who want to establish their own start-up in Canada. If you have the same plans, you can give shape to them with the help of Canada Start-up Visa program.
Canada Start-up Visa Program bridges the gap between immigrant entrepreneurs and the private sector organizations in Canada, which are expert in working with start-ups. Your application will be assessed based on the following four criteria-
- You should have a support letter from the angel investor group, a venture capital fund or a business incubator.
- CLB 5 scale communication skills in English language or fair hold on French language.
- Minimum one year of completion at a Post- secondary institution.
- Financial ability to bear the livelihood and settlements in Canada prior to earning an income.
If you meet these requirements, your application will be reviewed on CIC standards, eligibility criteria, health and security status, police verification and others. Canada Immigration Council may request an independent peer review to make sure that the organization providing letter of support performs due diligence.
Investment amount for Canada Start-up Visa –
You need to invest $200,000 if the investment comes from a designated Canadian venture capital fund and $75,000 if it comes from a Canadian angel investor group.
Canada start up program, special features –
- The permanent resident status has nothing to do with the success or failure of your business.
- The program is designed in such a way that the risk of failure is shared between the public and private sectors.
To check your eligibility for the Canada Start up Visa program fill out the assessment form. Make sure that the information you provide is authentic in order to get a proper assessment.
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Latest News for Canada Immigration
Government declared entrepreneur categories to apply for Canadian Work Permit
Canadian government classified entrepreneurs and self-employed persons who may obtain a work permit before becoming permanent residents of Canada into separate categories.
A C11 work permit may be authorized as an initial work permit or extension if the applicant is nominated under a business category or is self-employed and the permanent residence application has not yet been processed.
The latest instructions by government state that this is applicable in following two cases –
1. potential or actual provincial nominees undertaking business activities;
2. Quebec-destined entrepreneurs or self-employed persons issued a Quebec Selection Certificate.
In both of these cases, the government acknowledges that the individual is seeking eventual permanent residence and that entry to Canada and its labour market before permanent residence is granted may be mutually beneficial.
Ontario Corporate Stream Applications Move Online
Corporate stream applications of Ontario Immigrant Nominee Program are now online. Candidates for a key business stream of the Ontario Immigrant Nominee Program (OINP) can now apply through the province's online application system.
The Ontario Corporate Stream (OCS) business program is aimed at established international corporations that want to expand into Ontario or buy an existing Ontario business.
Dependents (Spouse/common law partner/ dependent children/dependent children of dependent children) of key staff members can be included in the application of Ontario Corporate Stream Business program.
Canada a perfect place to start-up for immigrants
Canada is a perfect place to establish own start-ups for the people, who have immigrated to this North American nation. Immigrant entrepreneurs are becoming an increasingly prevalent force in the Canadian economy.
A number of immigrants choose to start their own business as the system is merit based in Canada and people migrating here are entrepreneurial by nature, said Anna, a senior official at Toronto Region Immigrant Employment Council (TRIEC).
An Indian entrepreneur in Canada Mr. Sharma said that, immigrant entrepreneurs contribute a major portion into the innovation and economy of Canada.
Canada offers a start up visa to immigrants under which, it links immigrant entrepreneurs with experienced private sector organizations who are experts in working with start-ups.