The Startup Visa program in Canada is available to non-Canadians who desire to launch a new enterprise or business there. The Entrepreneur Visa Canada program also awards qualified immigrants who establish businesses in their nation. Candidates can enter Canada on a work permit sponsored by their Canadian investor under this procedure for entrepreneur visas. And if their company is up and running in the nation, they can apply for a PR visa.
Through this initiative, immigrants with business ideas can implement them in Canada. Successful candidates can also collaborate with Canadian private investors to get support with finance and advice on managing their businesses.
They can approach the following three categories of private sector investors:
- Venture capital firm
- A business incubator
- Angel financier
Eligibility for the Entrepreneur Visa in Canada
Entrepreneurial applicants must fulfill four criteria before submitting a visa application:
Own a legitimate business
Through the Start-up Visa Program, applicants who want to obtain permanent residency must be sure that their company operates in Canada and that the foreign entrepreneurs actively manage its core operations here.
Secure a commitment from a designated entity
Foreign business owners must obtain the backing of the designated organization that will aid in the growth of their venture in Canada before applying to the Start-up Visa Program.
Three types of designated organizations exist:
- A designated group of angel investors
- Money designated for venture capital
- Specialized incubators for businesses
Demonstrate proficiency in French or English
All candidates for the Start-up Visa Program must exhibit fluency in either English or French, the official languages of Canada. Candidates must demonstrate proficiency in Canadian Language Benchmark (CLB) Level 5 or higher. When applying, the test results must be no older than two years. Currently, the following test providers’ English test scores get considered by Canadian immigration authorities:
- CELPIP (General test)
- IELTS (General Test)
You may also submit test results from either of these two
French exams:
- TEF
- TCF
Comply with the ICRC’s proof-of-funds demand
Interested candidates must demonstrate sufficient financial resources to support their family’s relocation to Canada. To do this, applicants must demonstrate that they meet the IRCC’s criterion for proof of financial assistance.
Must pass the medical exams and security standards
Interested applicants must demonstrate and provide proof that they have the financial resources to support settlement in Canada for themselves and their family members.
Specific instructions
To be eligible for an entrepreneur visa in Canada, applicants must have the backing or sponsorship of a particular Canadian venture capital fund, angel investor, or company incubator.
For this visa program, venture capital funds, investor organizations, and company incubators have been approved by the IRCC.
Successful startups in this program must be able to secure the minimal investment needed. The minimum investment required if coming from a venture capital fund should be USD 200,000. The investment must be at least USD 75,000 if it comes from an angel investor group. A designated business incubator must accept applicants before they can participate in the program.
How to become eligible for a work permit and then permanent residency:
The candidate can apply for a work permit after acquiring the Commitment certificate from a designated entity.
Applicants must be fully engaged in operating the Canadian business, which must be incorporated in the nation, to be eligible for permanent residency. The majority, if not all, of the business operations must be conducted in Canada.
Under the Entrepreneur Visa program, processing times for work permits and PR visas are as follows:
It will take four to six months to write the commitment Letter or letter of support if the entrepreneur has a workable business plan. The individual can apply for a PR visa as soon as he receives this letter. The processing of the PR visa will take about 18 months. Candidates for the Startup Visa programs are not required to put any of their own money into the company. Candidates for immigration who desire to start their businesses may use this program as a route to a PR visa.
QUEBEC Immigration Canada Program
Below is the application procedure for professionals who desire to live in Quebec and become permanent residents of Canada. Quebec and the Canadian government have a unique immigration pact. As a result, the province has its guidelines for selecting immigrants who will fit in nicely.
As a skilled worker chosen by Quebec, you must apply for one of the following two stages:
- Apply for a Quebec Selection Certificate (Certificate de sélection du Québec [CSQ]) to the government of Quebec.
- Using its criteria, the Province of Quebec will evaluate you.
- The certificate attests to your acceptance as an immigrant by the Province of Quebec.
- You must submit a permanent residency application to Immigration, Refugees, and Citizenship Canada if the Province of Quebec selects you and issues you a CSQ.
Conclusion
A Entrepreneur visa in Canada is available to non-Canadians who desire to launch a new enterprise or business there. It also awards qualified immigrants who establish businesses in the nation permanent resident visas. In addition, the Quebec Entrepreneur and Quebec Immigration Canada programs are available to entrepreneurs who want to immigrate to Quebec.
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