Other country’s nationals who are willing to start their own business in Canada make use of Start-up Visa program and can immigrate to Canada as this program offers Permanent Residency of Canada to the entrepreneurs coming to Canada through this program.  The main objective of this program is to employ pioneering entrepreneurs to Canada and connect them to private sector businesses of Canada (venture capital funds, business incubators or angel investor groups) and help them establish their start-up business in Canada.

Government-designated entities (venture capital funds, business incubators or angel investor groups) will give a letter of support to the chosen candidates. These government designated entities are principally in charge of determining the capability of the applicant’s proposed business and present a approved plan with a Commitment Certificate to immigration authorities of Canada. Applications can be accepted or rejected on following basis and all the candidates for the Start-Up Visa program must meet the below mentioned eligibility criteria.

1. The business should meet the requirements of the program.
2. The candidate should receive Letter of support and Commitment Certificate from any of the designated entities mentioned above.
3. Have sufficient available and transferable fixed and liquid settlement funds (amounts changes each year)
4. You must have satisfactory level of English and/or French language proficiency. To assess the level of your English or French language, you have to score in Canadian Government approved assessment test. For English Language proficiency you can prepare for IELTS and TEF for French language. (At least level 5)

Designated entities that may support an application under The Start-Up Visa program should be supported by any of the following designated entities.

Designated business incubators

Designated venture capital funds

Designated angel investor groups

Below mentioned eligibility criteria should be met by the commitment required from a designated entity:

• A designated angel investor group should must approve that it will invest at least $75,000 CAD in the selected business, or the angel investor group can make two or more commitments which is equal to $75,000 CAD; OR
• A designated venture capital fund should must approve that it will invest at least $200,000 CAD in the selected business, or the venture capital fund can make two or more commitments which is equal to $200,000 CAD; OR
• A designated business incubator should prove that it will accept the applicant into its business incubator Program.

In order to be eligible, the projected business should be included and in continuation on business in Canada at the time of the commitment:

• The candidate should own at least 10% of the voting rights in the business corporation; AND
• Nobody else should hold 50% or more of voting rights in the corporation

Not more than five candidates can apply for permanent residency with support of the same business investment. Although, few candidates can be selected essential to the proposed business. If in any case an essential applicant withdraw its application or rejected for any other reasons, the application will be terminated for all other applicants under the same business investment.

Candidates who have received the Commitment Certificate from a designated entity and want to start working in the business in the processing time of their permanent residency application can apply for a short term work permit based on Commitment Certificate only if the designated entity doesn’t have any objection.

For getting a work permit, the candidate must present:

• A letter of support given by the designated entity; and
• A proof that they have adequate funds to meet expense as per their family size based on LICO (low-income cut-off) for at least one year.

For getting permanent residency, the below mentioned eligibility criteria should be met:

• Candidates should take active participation in management of the business in Canada.
• The business should be operated in Canada or its important part to be take place in Canada.
• The business should be incorporated in Canada.