Start-up Visa
A Start-up Visa is geared at attracting foreign entrepreneurs to bring their business ideas to Canada. This revolutionary new visa is the first of its kind and results in the applicant(s) obtaining permanent resident status in Canada. However, before you can apply, you will also need to find the right financial backing in Canada.
In order to be eligible, as the applicant, you must
- Prove your business venture or idea is supported by a designated organization
- Meet the language requirements
- Meet the education requirements
- Have sufficient settlement funds
Before you apply for the start-up visa, you must convince a designated organization to support your business idea. If the designated organization supports your business idea, it will give you a Letter of Support.
You must include your Letter of Support with your application as proof that a designated organization supports your business idea.
If you do not have a Letter of Support from a designated organization or do not meet any of the eligibility requirements below, your application will be refused.
These Organizations select which business proposals to evaluate. If an organization decides to review your business proposal, it will assess your business' growth potential and viability. Each organization has its own intake process and evaluation criteria.
- Designated Venture Capital Fund or
- Designated Angel Investors or
- Designated Business Incubator
Further, the Government of Canada does not provide financial support to new Start-up business visa immigrants.
You must show that you have enough money to support yourself and your dependants after you arrive in Canada. You cannot borrow this money from another person. You must be able to use this money to support the costs of living for your family.
You will need to provide proof of your funds when you submit your application for immigration.
The amount of money you need depends on the size of your family. These amounts are updated yearly.
|
Number of |
Funds Required |
|
1 |
$11,115 |
|
2 |
$13,837 |
|
3 |
$17,011 |
|
4 |
$20,654 |
|
5 |
$23,425 |
|
6 |
$26,419 |
|
7 or more |
$29,414 |
We can Help You!
We have dealt with hundreds of immigration cases. We have helped our clients in their difficult situations and have guided them to draft a more effective application. We can help you draft your application and arrange the required documents. A well-planned and complete application will increase your likelihood of acceptance and will save your from hassle.
If you are worried about the legal fees – Don’t be! Our goal is to help everyone that is interested in immigrating to Canada. Contact us and we can provide numerous options for you. You can also purchase our very affordable Do it Yourself Immigration Kit which details everything for you. If you are still not sure, feel free to get back to us. We will review your case before you submit it to give you the best possible outcome.
Tags: Start-up Visa Business Immigration Canadian Permanent Residence Canadian Immigration
