Canada’s Start-up visa program is for dynamic entrepreneurs who have an impactful idea and have the capability to make a significant contribution to Canada’s economy. In order to qualify for permanent residence, the intended business must be incorporated and operational in Canada and a total of five applicants can have their permanent residence application supported by the same business. However, certain candidates may be designated as being essential to the business and hence if an essential candidate gets refused or withdraws their application, all other candidates under the same business will also have their applications terminated.
To be eligible for the Start-up program, an applicant needs to meet the following requirements:
They must have a ‘qualifying’ business. It means that at the time of getting the support letter from a designated organization, the applicant must hold min. 10% of the voting rights (up to 5 people can apply jointly under a single business) with no other person owning over 50% voting rights. The business must be established in Canada with major part of the operations occurring in Canada and applicant must be actively engaged in it.
They must have a letter of support from a designated organization. These are business groups that are approved by the Canadian government to invest in or support the start-ups through the Start-up Visa Program. They would screen & select business proposals as per their own intake process and pre-determined eligibility criteria.
They must meet the language requirements and prove their language credentials through an approved institution
They must have sufficient proof of funds to come and settle in Canada
They must not be ‘inadmissible’ to Canada
To understand the in-depth requirements for the Start-up program and to check your eligibility, contact our RCIC by submitting your profile here.