Canada’s Startup Visa Program: Everything You Need To Know

Starting a company in Canada is easier for immigrant entrepreneurs by enabling them and their families to apply for permanent residency. Start-up Visa Program applicants who have qualified for a temporary work visa while waiting for their permanent residence are eligible to go to Canada to begin their company ventures.

The Canada startup visa program was launched as a pilot program in 2013 and has already welcomed hundreds of immigrant company entrepreneurs to Canada.

Immigrant entrepreneurs who want to relocate to Canada may now take advantage of the program, which was made permanent in 2017.

The Start-up Visa Program is one of several immigration efforts meant to assist skilled foreign employees in finding a place in the Canadian workforce as the country’s economy continues to expand.

Start-Up Visa Eligibility: What Are the Requirements?

Entrepreneurs who want to qualify for a start-up visa must fulfill four critical criteria.

Have a Company That Qualifies for the Program

Entrepreneurs who want to immigrate to the United States must own at least 10% of the voting rights related to the company’s shares in order to be regarded as a qualified firm. Ownership applications may be submitted by a group of up to five immigrants. There must also be a 50/50 split between the applicants and the selected organization when it comes to voting privileges.

Start-up Visa Program candidates must prove that their firm is formed in Canada and that vital operations are carried out in Canada by foreign entrepreneurs in order to gain permanent residency.

Commitment from an Appointed Person

An organization that will help the firm grow in Canada must be identified before an entrepreneur can apply for Canada’s Start-up Visa Program.

English or French Proficiency Is Required

Canada startup visa Program’s candidates must be fluent in one of Canada’s official languages—English or French. Candidates must demonstrate proficiency in the Canadian Language Benchmark (CLB) Level 5 or above to be considered for this program. At the time of application, the test results must be less than two years old.

Have to Meet IRCC’s Proof of Funding Criterion

Immigrants who want to move to Canada must demonstrate that they have the financial resources to sustain themselves and their families in their new home country. Immigrants are required to show that they can afford to live in Canada.

Canada’s Start-Up Visa Program provides permanent residency to immigrants who meet the program’s eligibility requirements. A start-up visa application, on the other hand, might take a long time to process. With the help of immigration advisers, you won’t have to worry about completing these processes on your own.