Start-up visa program is intended to attract businesses that are innovative, can create jobs for Canadians and can compete on a global scale.
The business you created must meet the following conditions.
- At the time you get a commitment from a designated organization:
each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners)
applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time.
To ensure the business is ongoing and truly benefits Canadian economy, at the time the applicant receives the permanent residence, the applicant must provide active and ongoing management of this business from within Canada, an essential part of the operations of the business happens in Canada, this business is incorporated in Canada.
Support From A Designated Organization
In order to apply for a start-up visa, the business idea or venture must get a letter of support from one of the designated organizations on the Government of Canada website. Each organization has its own requirements, you need to convince the organization that you have a business idea that is worth supporting and may be required to submit a business plan.
The applicant must meet the minimum level of the Canadian Language Benchmark 5 in either English or French in all four areas: speaking, listening, writing and reading
You have to demonstrate that you have the money to support yourself and your dependents after you arrive in Canada. Depending on the size of your family, there are certain funds threshold you need to meet.
Short-term Work Permit
Before submitting an application for permanent residence, you may be eligible for a short-term work permit. Only foreign nationals who have received a Commitment Certificate and Letter of Support issued by a designated entity may be considered for a short-term work permit. The designated entity must support the request for a work permit. The Commitment Certificate or the Letter of Support must indicate that there are urgent business reasons for your early entry to Canada.
To apply for the short-term work permit, you must pay the employer compliance fee and have sufficient funds to meet the low income cut off for your family for 52 weeks. If your business has registered for a Canada Revenue Agency business number, you must use the online Employer Portal to submit your offer of employment.
It takes 12- 16 months to process the application.
If your PR application is approved, you will be issued a permanent residence visa which includes your Confirmation of Permanent Residence and your entry visa. Then you will have to do a short interview with the immigration officer either by making an appointment with one of the offices or going to a Canadian port of entry. The interview is to make sure all your documents are still valid, you still meet the requirements to immigrate to Canada and confirm your Canadian mailing address so to mail your PR Card.
Need an immigration lawyer to guide you along the intricate process? Please contact MEHDI AU LLP to book a consultation today.
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