Canada’s start-up visa program gives entrepreneurs the opportunity to immigrate to Canada to establish a new business.
Immigrant entrepreneurs must demonstrate that their business is innovative, will create new jobs for Canadians, and can compete on a global scale.
Requirements for Canada’s start-up visa
There are four requirements you need to meet to be eligible for a Canadian start-up visa:
1.Have a qualifying business:
- You must hold at least 10% of the voting rights attached to all shares of the company.
- Together with the designated organization, you must hold at least 50% of the voting rights attached to all shares of the company.
2.Have a letter of support from a designated organization:
- You need to demonstrate that you have the support of a venture capital fund, angel investor group, or business incubator.
- To do this, you must pitch your business idea and convince the organization that it is worth supporting.
- The process of pitching your business idea will be different for each organization.
- If your pitch is successful, you will receive a letter of support from the organization which must be included in your start-up visa application.
3.Meet the language requirements:
- You must take a language test from an approved agency and show that you meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in speaking, reading, listening, and writing.
4.Proof of funds:
- You need to show that you have enough money to support yourself and any dependents once you arrive in Canada. The amount you need depends on the size of your family.