Canada Startup Visa Requirements
Canada is one of the strongest economies all over the globe. If you are looking for options to move to Canada, there are multiple options. Canada is a very welcoming country for talented foreigners. After multiple successful cases of skilled and business immigration, Startup Visa is another great opportunity for talented individuals with innovative business plans.
Canada Start-up Visa
Startup Visa refers to the Permanent Residency option for qualified entrepreneurs who want to relocate to Canada. If you are an emerging entrepreneur and want to establish a business in Canada, Startup Visa is your way to go. You will be linked with investors who will support you to establish a business in Canada.
- Applicant must have an innovative business plan
- Intending Immigrant is able to create jobs in Canada
- Applicant needs to be ready to compete with the global market
There are certain designated organizations, if they support your business idea you can easily immigrate to Canada. The applicant must need to show proof of finances that will be used during his stay until he gets an investor company. There is no minimum or a specific amount that you need to have, it varies with the no. of family members added as a dependent.
The Canadian government doesn’t support start-up visa immigrants financially. Also, the applicant is not allowed to borrow money from anyone.
Who is a Designated Organization?
A designated organization would be an investor company or a capital venture operating in Canada and ready to support a new business idea for establishing a business in Canada.
How to connect with a Designated Organization?
There is a list of designated organizations on the government website of Canada and all the investor companies have their profiles on the list. The requirements and criteria are mentioned. Once the intending immigrant has a solid business project, Business Immigration Lawyers and Canada Startup Ecosystem officials will suggest and finalize a relevant designated entity according to your project proposal.
- The applicant must have a qualifying business
- A letter of approval from the designated organization
- Applicant must have a minimum CLB5 language level
- Enough finances to manage life in Canada
Note: While Permanent Residency in being processed, you can apply for temporary work permit so you can stay in Canada, work there and establish your business before the process get done.