CANADA START-UP VISA

Canadian Residency by investment

WHAT IS THE CANADA START-UP VISA?

The Canadian Start-up Visa Program is designed for entrepreneurs with innovative ideas who will spur economic growth and entails the consequent commitment from a designated organization. This program requires a minimum financial commitment of CAD190,000 and grants permanent residency in Canada. Applicants may apply for Canadian citizenship after 3 years.

Advantages of the Canada start-up visa

  • Permanent residence for successful applicants
  • Dual citizenship is permitted
  • Dependents included:
    • Spouse or common law partner
    • Children under 22 years old who do not have a spouse or a common law partner
  • No source of funds and path of funds requirements
  • No age limit
  • Fast processing time
  • Ability to live, work and study upon approval
  • Access to high quality subsidized education upon approval
  • Access to advanced health and welfare systems upon approval
  • Opportunity to sponsor your family relatives to Canada
  • Possibility to apply for Canadian citizenship after 3 years of permanent residence

Investment Options

An applicant may obtain a commitment certificate from one of the following types of designated organizations:

  • Business incubator – which confirms that the applicant’s business is currently participating in or has been accepted into its business incubator program, or
  • Angel Investor Group – which confirms that it is investing at least CAD 75,000 in the applicant’s business; or
  • Venture Capital Fund – which confirms that it is investing at least CAD 200,000 in the applicant’s business.

Canadian Residency by investment Requirements

  • The applicant must demonstrate that they are innovative immigrant entrepreneurs who will spur economic growth by obtaining a commitment certificate from a designated organization in order to qualify for the Canada start-up visa
  • The applicant must hold at least 10% of the voting shares in the business, and together with the designated organization more than 50% of the voting shares
  • The applicant must operate and manage the business venture once set up from within Canada
  • The applicant must meet a minimum of level 5 in the Canadian Language Benchmark Test in English or French, in speaking, reading, listening, and writing
  • The applicant must show that he has enough funds to support herself and any dependents after they arrive in Canada
  • The applicant and family members must be in good health and have no criminal record

Process

  • Appointment of an authorized representative to submit the application
  • Provide proof of language proficiency, and other personal documentation
  • Obtain commitment certificate from angel investor group, venture capital fund or business incubator
  • Submission of application form, supporting documents and fees
  • Typical processing time is within 12-16 months
  • Successful applicants will immediately receive permanent residence status in Canada

FAQ

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The present document is intended for guidance and general information only and does not constitute or purport to provide you with legal advice. Such information is subject to changes without notice. Each case is unique and depends on the facts and circumstances of the individual and due consideration should be taken if applying the general information to your personal situation. For an evaluation of your personal circumstances one of our legal team would be happy to assist.

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