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.
|Must earn a minimum of CLB/NCLC 5 in Either French or English in all 4 competencies (speaking, reading, listening, and writing).
|When 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.
|A settlement fund is required for you and your dependent family members for 52 weeks which should meet the LICO.
|Must 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.
|If 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.