Contact Oasis Resource Management for hassle free settlement into another country. We provide various types visas and assist our clients at every step.
The Start-up Visa Program in Canada aims at immigrant entrepreneurs with the skills and potential for building businesses in the country that:
If an entrepreneur is able to get the required support for their start-up idea from one of the selected companies, they are likely to immigrate to Canada.
There are a number of reasons why Canada is a great place for building a business. Some of the greatest advantages include
Before an entrepreneur chooses to apply for the Start-up Visa Program, they are required to have the support of a designated company. Designated companies are business groups that have been approved by the Government of Canada for investing in or supporting possible start-ups.
If a designated company decides for supporting the start-up business, it will give a Letter of Support – it is a crucial document for a Start-up Visa application.
Entrepreneurs are obliged to secure a minimum investment of $200,000 if the investment comes from a designated angel investor group in Canada.
There is no need for an entrepreneur to secure any investment from a business incubator. Entrepreneurs have got to be accepted into a Canadian business incubator program.
For the Start-up Visa Program, up to five people can apply for it as owners of a single business. However, to be able to meet the following ownership requirements:
Note: Voting rights are the business owner’s rights within a company. The right to vote is attached to the business’s each share that is excellent at a given time.
For the entrepreneur’s business to succeed in Canada, they should have the ability to communicate and work in English, French, or both.
An entrepreneur has to take a language test from an approved agency and incorporates the results with their application.
An entrepreneur should meet the minimum level of the CLB (Canadian Language Benchmark) 5 in either English or French in all of these four areas:
An entrepreneur is required to show that they have sufficient money for supporting themselves and their dependents after arriving in Canada. No other person can lend them this money. However, they will need to give proof that they have the required money when they apply.
The amount an entrepreneur will need depends on the family size. The funds required as per the directives of the government are mentioned below:
| Number of Family Members | Funds Required (in Canadian Dollars) |
| 1 | $12,300 |
| 2 | $15,312 |
| 3 | $18,825 |
| 4 | $22,856 |
| 5 | $25,923 |
| 6 | $29,236 |
| 7 | $32,550 |
| For each additional family member | $3,314 |
Designated companies, such as business incubators, are business groups that have been approved for investing in or supporting possible start-ups.
Companies select which business proposals to analyze. If one decides to assess yours, it will analyze the potential of your proposal and whether or not it will be successful. Each company has its own intake process for proposals as well as criteria used for their evaluation.
If a company opts to support the idea of your business, it will give you a Letter of Support.
To apply for the Start-up Visa Program, your business idea or venture has to get the support of one of the designated companies mentioned below:
You must be accepted into one of these programs:
Ø Agrivalue Processing Business Incubator
Ø Food Processing Development Centre
Questions about Start-Up Visa
Your application for coming to Canada through the Start-up Visa Program will be evaluated on a pass/fail basis. Four requirements should be met. You are required to
If all these requirements are met, your application will be assessed based on the standard permissibility criteria of the CIC. It includes health, criminality, and security. CIC is likely to request an independent peer analysis to make sure that due diligence was carried out by the chosen organization that issued your Letter of Support.
You will have to get in touch with an organization that has been selected as eligible for participating in the Start-up Visa Program.
You will need to persuade a designated organization to prove your business idea is worth their support.
If you come to an agreement with a designated organization, you will be sent a Letter of Support. This is proof that CIC requires showing that the angel investor group, venture capital fund, or business incubator supports your business idea.
You will be given a Letter of Support by a designated organization once you come to an agreement. You need to incorporate this letter when your application is submitted to CIC.
Also, the designated organization will send a Commitment Certificate to CIC. The Letter of Support and the organization’s Commitment Certificate will be used by CIC to evaluate your application.
You are required to secure a minimum investment of $200,000. This is when the investment comes from a designated venture capital fund in Canada.
You should secure a minimum investment of $75,000 if the investment comes from an angel investor group in Canada.
There is no need to secure any investment from a business incubator. However, you ought to be accepted into a Canadian business incubator program.
There is no need to invest your money. The minimum investment required is an investment that comes from a venture capital fund or angel investor group in Canada, which has been named as a participant in the program.
Receiving support from angel investor groups or numerous designated venture capital funds is called syndication. If you have syndicated support, then each investment entity incorporated in the syndication ought to be identified. Only one Commitment Certificate will be sent electronically to CIC and you will be provided with one Letter of Support.
The moment a designated venture capital firm invests in your business, the minimum total investment amount, which is required to be invested in your business, is $200,000. This is when a designated angel group invests in your business as well.
If your business receives support from no less than one designated angel group, but not designated venture capital groups, then the minimum total investment amount that should be invested in your business is $75,000.
The Canadian Government does not offer financial support to new Start-up Visa immigrants.
You have to show that you have an ample amount of money for supporting yourself and your dependents after arriving in Canada. This money cannot be borrowed from another person. When you apply, you will have to give proof that you have the money.
The size of your family determines how much money you need. These amounts are updated every year.
| The Number of Family Members | Funds Required (in Canadian Dollars) |
| 1 | $12,300 |
| 2 | $15,312 |
| 3 | $18,825 |
| 4 | $22,856 |
| 5 | $25,923 |
| 6 | $29,236 |
| 7 | $32,550 |
| For each additional family member | $3,314 |
If your business fails, it is not going to have an adverse effect on your permanent resident status. We recognize that not every business will be successful, and this program is designed so that the risk is shared between the public and private sectors.
An ability to converse in English equivalent to a minimum of CLB (Canadian Language Benchmark) 5
Contact Oasis Resource Management for hassle free settlement into another country. We provide various types visas and assist our clients at every step.
