The Canadian Start-Up Visa Program – Combining Innovative Ideas with Permanent Residence!
Innovation is appreciated throughout the globe. New concepts and ideas act as the threshold for newer opportunities, and often have the potential of being the next big thing. If you have a creative mind and are looking to take your new ideas abroad, you can easily do so to Canada with the Start-Up Visa Program!
What is this Program about?
The Start-Up Visa Program is a leading Canadian immigration project, and is widely regarded as the first of its kind. It allows successful applicants to connect with private organizations in Canada and gain funding – as well as guidance and expertise – for establishing and operating their new business in Canada. On top of that, you will also be granted permanent residence in Canada!
Sweet! What are the requirements of this Program?
Eligibility requirements for this Program include the following:
- Letter of Support and Commitment Certificate
You must obtain a letter of support from a designated investor organization by convincing a designated venture capital fund or angel investor group to fund your proposed business. The investor organization must also provide a Commitment Certificate to Citizenship and Immigration Canada.
If funded by a designated venture capital fund, you must secure an investment of at least $200,000 CAD. If your business is funded by a designated angel investor group, then the invested
amount must be a minimum of $75,000 CAD.
You must have impeccable communication skills in English and/or French. You need to provide language test results from an approved agency, and meet the minimum level of CLB 5 in either English or French.
In order to apply for the Start-Up Visa Program you must have completed an education of at least one year from a post-secondary institution. In addition, you must also have been in good standing for at least one year while attending your post-secondary institution. As proof of this requirement, you can provide transcripts, certificates, degrees, diplomas, or a letter of good standing along with your application.
- Sufficient Settlement Funds
You need to provide evidence of sufficient settlement funds to support your and your family’s stay in Canada upon immigration. The amount of funds you need to show depends on the
number of family members who will accompany you to Canada.
- Security and Medical Clearances
Finally, you must provide the necessary security and medical clearances – along with your family members – to verify that there is no security threat about you, or that you have a health condition that might put a strain on the Canadian health care system.
Also, you must intend to live outside the province of Quebec once you immigrate.
Are there any other advantages to this Program?
Yes! Another thing that sets the Start-Up Visa Program apart from its equivalents is that even if your proposed and funded business fails, you will still get to retain your permanent residence in Canada! You’d be hard-pressed to find such advantages anywhere else, wouldn’t you agree?
Great! What are the Designated Investor Groups for this Program?
The Venture Capital Funds include:
- BDC Venture Capital
- Blackberry Partners Fund II LP (doing business as Relay Ventures Fund II)
- Celtic House Venture Partners
- Celtic House Venture Partners Fund III L.P.
- Celtic House Venture Partners Fund IV LP
- DRI Capital Inc.
- Golden Opportunities Fund Inc.
- iNovia Capital Inc.
- New Brunswick Innovation Foundation Inc.
- Northwater Intellectual Property Fund
- OMERS Ventures Management Inc.
- Pangaea Ventures Fund III, LP
- PRIVEQ Capital Funds
- PRIVEQ III Limited Partnership
- PRIVEQ IV Limited Partnership
- Quorum Group
- Advantage Growth (No.2) L.P.
- Ontario SME Capital Corporation
- Quorum Investment Pool Limited Partnership
- Quorum Secured Equity Trust
- Rho Canada Ventures
- Summerhill Venture Partners Management Inc.
- Tandem Expansion Management Inc.
- Vanedge Capital Limited Partnership
- Version One Ventures
- Wellington Financial LP
- Westcap Mgt. Ltd.
- Yaletown Venture Partners Inc.
On the other hand, the Angel Investor Groups include:
- Angel One Network Inc.
- First Angel Network Association
- Golden Triangle Angel Network
Perfect! How do I start the application process?
Once you have everything ready, head over to eduaid! Our expert team of immigration consultants and agents will ensure that you have everything you need, and will work tirelessly in order to prepare your visa application perfectly! Contact us today, and let us take care of the rest!
Give us a call to set up an appointment, or visit our website to see our packages!