This program grants permanent residency in Canada to qualified entrepreneurs from foreign nations. Its goal is to boost investment immigration from foreign investors so innovative entrepreneurs and companies can establish their business enterprise in Canada.
First introduced in April 2013, this program is due for permanent status on March 31st 2018. If applicants want to live in Quebec, they cannot use this program as a means of investment immigration.
Before authorities in Canada can approve any application for business immigration, the applicant’s intended business must be assessed by a Canadian government entity such as investor group or venture capital fund.
Successful candidates will be contacted by these entities and their application will be assessed to verify that it is a viable project in Canada.
Start-Up Visas are good method of investment immigration but it’s no easy path. The following criteria must be attained:
To be approved, the commitment needs to satisfy one of the criteria below:
When the commitment is made, it is essential that the business is active within Canada at that time. This is necessary to qualify for business immigration on the Start-Up Visa. Furthermore:
One business can support a maximum of five different applicants in their quest to use business immigration as a means of securing permanent residency in Canada. However, as some may be listed as an integral member of the business, if their application is withdrawn or rejected then all applicants tied to the business will have their applications rejected.
Once the Commitment Certificate has been acquired, applicants can apply for their temporary work permit. This is a good option should they want to start work in the business while waiting for the permanent residency application to be processed.
The following entities may support a foreign investor’s application for a Start-Up Visa to enter Canada:
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