Start-up business Class / Start-up Visa Program

This class is for successful businesspersons to encourage them and facilitate them to settle permanently in Canada through starting a new business that has to be innovative, create jobs for Canadians, and has the potential to compete on a global scale.

How to apply?

Download the application package from the IRCC website, complete and submit it to CIO – Startup Business Class in Sydney Nova Scotia. Each partner (up to 5 partners allowed) should submit their personal application separately. You can submit the applications both online and on paper.

PROGRAM REQUIREMENTS

Point Systemn. a
Pass scoren.a
LanguageMust earn a minimum of CLB/NCLC 5 in Either French or English in all 4 competencies (speaking, reading, listening, and writing).
ExperienceWhen you receive permanent residence in Canada you must be involved in the active and ongoing management of the business that you have created from inside Canada.
Job Offern. a
Educationn. a
Settlement FundsA settlement fund is required for you and your dependent family members for 52 weeks which should meet the LICO.
DocumentsMust have a qualifying business and a Letter of support from a designated organization. A qualifying business is a business that you have created, in which you and each one of your applicants (up to a maximum of 5) hold 10% or more of the voting rights, and all applicants and the designated organization that support the business jointly hold more than 50% of the total voting rights. A designated organization is a group business such as Venture Capital Funds, Angel Investor Groups, and Business Incubators that has been approved by the Canadian government to invest in startups or support them.
Financial commitmentIf the investment comes from a designated Canadian venture fund, you must be able to secure at least $200,000. If the investment comes from the designated Canadian angel investor group, you must be able to secure at least $75,000. If a business incubator wants to support you, you do not need a financial investment from them, however in this case you must be accepted into a Canadian business incubator program.

LINKS AND RESOURCES:

https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/start-visa/eligibility.html (Accessed in Sep 2021).

Leave a Reply

Get admission in 1500 plus universities in Canada, the US, the UK, and Australia. 
Enroll Now
Student Portal
close-image
en English
X