Start-up Visa Program
This is the newest visa called the Start-Up Visa. It focuses on attracting entrepreneurs and new innovative businesses to Canada (outside of Quebec). The visa connects private sector groups with entrepreneurs to provide essential resources, support, and valuable experience.
Are You Eligible for Permanent Residency the New Start-Up Visa?
Letter of Support
First, a corporation must obtain a commitment to invest from a designated angel investor group, with a minimum of $75,000, or a venture capital fund, with a minimumof $200,000. A letter of support from the investor(s) must be submitted together with the application. Once the application has been submitted, the investment entity will electronically send a Commitment Certificate and Term Sheet directly to IRCC.
How can you Qualify for an Investment?
Each investment firm and venture capital fund will have their own requirements for securing a letter of support. As one of the approved venture capital investors, the Business Development Bank of Canada (BDC) has set out some guidelines for innovators looking to receive funding.
In their selection criteria, the BDC has outlined that they are looking for innovative companies who possess proprietary knowledge, intellectual property, or technological knowledge/ownership that set high barriers to entry into their sectors. In order to maximize growth and ensure sustainability the BDC looks for a commitment to partnership from companies that work on multi-market applications for their products with clear strategies and adaptability.
To find out more about the Start-Up Visa and how M. Khan & Company can help you with your application, please complete our assessment form.
This is a very broad and liberal grouping that can include artists, musicians, filmmakers, illustrators, journalists, and anyone who is a behind the scenes worker in cultural industries Applicants must also meet the criteria of "world class" workers.
Coaches, trainers and athletes all fall under this heading.
Applicants must have proven records of earning an income and supporting themselves and their families through their work. As an example, the criteria for the cultural activities workers is that they must be "world class".
Qualifying and Applying
To qualify for the Self-Employed Stream, according to Immigration, Refugee and Citizenship Canada (IRCC), you must have relevant experience that meets the specific area in which you work. Just like everyone else hoping for Permanent Resident status in Canada, you will have to submit an application.
Your application is scored out of a possible 100 points. In order to be accepted, you must earn at least 35 points.