Start-Up Visa

Posted on Posted in Federal Immigration, Immigration Options

This program targets skilled and innovative immigrant entrepreneurs, with an intention of creating jobs for Canadians to compete on a global scale. The candidate must meet the following criteria to be eligible to obtain a Start-up Visa.

 
Proof of business supported by a designated organization:
  • Prior to applying for a Start-up visa, the applicant must have a letter of support from a designated organization which needs to be included with the application:
    • Designated venture capital funds
    • Designated angel investor
    • Designated business incubators
 
Ownership Requirements:

Up to five people can apply for a Start-up Visa as owners of a single  business. But, to meet the ownership requirements:

  • each applicant must hold at least 10 percent of the voting rights in the business, and
  • the designated organization and the applicants must jointly hold more than 50 percent of the voting rights in the business;
  • To be eligible for the permanent residence, the business must be incorporated in Canada and the candidate must be actively managing the business and its operations from within Canada.
 
Language Requirements:

The applicant must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all of these four areas(speaking, reading, listening, writing). Must take a language test from a CIC-approved agency.

 
Settlement Funds Requirements:

The applicant must show that he/she has enough money as listed below while submitting application. This money can not be borrowed from another person.

Number of
Family Members
Funds Required
(CAD)
1 $12,669
2 $15,772
3 $19,390
4 $23,542
5 $26,701
6 $30,114
7 or more $33,528
 
Disclosure of funds

If you are bringing more than CAN $10,000 across the Canadian border, you must tell a Canadian official when you arrive. If you do not tell an official, you may be fined or put in prison. These funds could be in the form of:

  • cash
  • securities in bearer form (for example, stocks, bonds, debentures, treasury bills) or
  • negotiable instruments (for example, bankers’ drafts, cheques, travellers’ cheques or money orders).
 
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