The Canadian Startup Visa Program
The government of Canada introduced the Startup Visa Program to attract entrepreneurs with innovative ideas who wanted to establish their businesses in Canada and immigrate with their families. It has become very popular because it opens the door to any person with an innovative idea that can be turned into a business with a global reach. The basic requirements are as follows:
Qualifications Of Applicants
Applicants can come from any sector as long as they have an innovative idea that can be developed into a viable product or service with global reach. All applicants must be able to demonstrate that they have the training and experience to carry out the intended work in Canada and they intend to stay in Canada and develop their business for the long term. The plan must be presented to a Designated Organization and if they agree, they will issue you a Letter of Support.
Language Abilities
All applicants must prove they meet the language requirement of CLB 5 in all abilities, by way of an IELTS or CELPIP test.
Net Worth Requirement
All applicants must be able to prove they have adequate funds to commence business activities for the startup and support themselves and their families until they have revenues.
Significant Benefit
All applications must demonstrate significant economic benefits such as: job creation, product or service innovation, hiring and training opportunities for Canadians, or a boost to remote communities.
Application Timing
Once the letter of support is issued by the incubator (designated entity), applicants are required to apply for permanent residence (PR). An essential applicant can apply for a work permit once the PR application is submitted, A closed work permits can then be issued for a period of one year.
