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 the support of a designated organization as listed below and need to include a letter of Support with the application:
- Designated venture capital funds
- Designated angel investor
- Designated business incubators
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.
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 the 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.
(in Canadian dollars)
|7 or more||$32,191|
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:
- 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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