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What is Canada Start-up Visa Program?
Canada Start-up Visa Program gives opportunity to foreign innovative entrepreneur to come to Canada to start and manage their own business, by linking them with angel investor groups, venture capital funds and business incubators. Canada Start-up Visa Program helps foreign nationals to kick start their own business in Canada and get permanent residence here.
Eligibility requirements for the Start-up Visa Program
A business is deemed qualified, if:
- At the time a commitment from a designated organization is received, each owner of the business (maximum 5 people can apply as owners), holds 10% or more of the voting rights attached to all shares of the business.
- Applicant and the designated organization which has provided commitment to the business, jointly hold more than 50% of the total voting rights of all shares of business.
- Business must be active and ongoing at the time when permanent residence is received.
- Business must be incorporated in Canada.
- At time of PR, major part of the business is being conducted in Canada.
A designated organization is any one of the following:
Venture capital funds
You must get at least one of these groups to agree to invest a minimum of $200,000:
- 7 Gate Ventures
- Arete Pacific Tech Ventures (VCC) Corp
- BCF Ventures
- BDC Venture Capital
- Celtic House Venture Partners
- Extreme Venture Partners LLP
- Golden Venture Partners Fund, LP
- iNovia Capital Inc.
- Intrinsic Venture Capital
- Lumira Ventures
- Nova Scotia Innovation Corporation (o/a Innovacorp)
- PRIVEQ Capital Funds
- Real Ventures
- Relay Ventures
- ScaleUp Venture Partners, Inc.
- Top Renergy Inc.
- Vanedge Capital Limited Partnership
- Version One Ventures
- Westcap Management Ltd.
- Yaletown Venture Partners Inc.
- York Entrepreneurship Development Institute (YEDI) VC Fund
Angel investor groups
You must get one or more investors connected to these groups to agree to invest a minimum of $75,000:
- Canadian International Angel Investors
- Ekagrata Inc.
- Golden Triangle Angel Network
- Keiretsu Forum Canada
- Oak Mason Investments Inc.
- Southeastern Ontario Angel Network
- TenX Angel Investors Inc.
- VANTEC Angel Network Inc.
- York Angel Investors Inc.
Business incubators
You must be accepted into one of these programs:
- Alacrity Foundation
- Alberta Agriculture and Forestry
- Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
- Creative Destruction Lab
- Empowered Startups Ltd.
- Extreme Innovations
- Genesis Centre
- Highline BETA Inc.
- Innovacorp
- Innovation Cluster - Peterborough and the Kawarthas
- Interactive Niagara Media Cluster o/a Innovate Niagara
- Invest Ottawa
- Knowledge Park o/a Planet Hatch
- LatAm Startups
- Launch Academy - Vancouver
- LaunchPad PEI Inc.
- Millworks Centre for Entrepreneurship
- NEXT Canada
- North Forge East Ltd.
- North Forge Technology Exchange
- Platform Calgary
- Pycap Inc (o/a Pycap Venture Partners)
- Real Investment Fund III L.P. o/a FounderFuel
- Ryerson Futures Inc.
- Spark Commercialization and Innovation Centre
- Spring Activator
- The DMZ at Ryerson University
- Toronto Business Development Centre (TBDC)
- TSRV Canada Inc. (operating as Techstars Canada)
- University of Toronto Entrepreneurship Hatchery
- VIATEC
- Waterloo Accelerator Centre
- York Entrepreneurship Development Institute
Applicant must get a letter of support from any of the above designated organization.
- Must meet minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French.
No financial support shall be provided to new start-up visa immigrants. following proof of money is needed by the applicant:
Number of family members | Funds required (in Canadian dollars) |
---|---|
1 | $12,960 |
2 | $16,135 |
3 | $19,836 |
4 | $24,083 |
5 | $27,315 |
6 | $30,806 |
7 | $34,299 |
For each additional family member | $3,492 |
Applicant must not be inadmissible to Canada.
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