26
Apr

Business – Start-Up Visa

| Introduction

Start-Up Visa is Canada’s immigration program that was started as a pilot in 2013
first and it was officially introduced in 2018 as a permanent program. The main target
of the program is to attract ambitious businesspersons with innovative business ideas
from various locations in the world. Applicants who do not have an experience in
business can get mentoring about management, marketing, and business strategies
from the institutions designated by the Canadian government.  People who already have
experience running businesses can get investments from designated organizations.

Therefore, it will be the perfect program for those planning to open or expand their business
abroad. Moreover, you can kill two birds with one stone through this program, for your
business and also for your Canadian permanent resident visa with your family.

| Eligibility for This Program

Only a few requirements are needed in order to obtain Permanent Residence through
a start-up visa :

1. Prepare the Business Plan

It is necessary to have a well-structured business plan to open the business. The
industry type of business is not that important for this immigration program. Although
there are several industries Canada is pursuing, there is no restriction to the area
of your business, and anyone can freely apply to this program if you only have creative
business ideas.

*Note: Each applicant must own at least 10% of the business’ voting rights, and the
 total share (including investors) must exceed 50% for the business to be qualified.

2. Contact the Investors

Designated organizations registered by the Canadian government will provide
financial support while you run the business. The more detailed and organized
your business plan, the greater the possibility of your business being supported
by investors.

You must receive the Letter of Support from the organization and include it
in the application.

3. Enough Settlement Funds to Support Your Family

The Canadian government does not give financial support while you stay in Canada.
However, that does not mean individuals must bring much money to Canada. Instead,
you only need enough funds to maintain your life in Canada.

The chart below is the required settlement funds you need for the start-up visa program:

4. Language Requirement

One attraction of this program is the language requirement. The language
requirement of a start-up visa program has a relatively low standard, which
is Canadian Language Benchmark (CLB) 5 in 4 areas:
1. Reading
2. Writing
3. Listening
4. Speaking

Why You Should Choose True Light Law Corporation

• True Light Law Corporation’s lawyer, Joshua Yang, mainly practices
  Immigration, Employment, and Business areas of the law. Along with many
  years of business management consulting experience and expertise in business
  matters including management, tax, business strategy, and marketing, our
  dedicated lawyer Joshua Yang can provide you with the best legal service to
  help your Start-Up Visa application to succeed.

• We are currently working with multiple designated organizations including many
  experienced business incubators, assisting clients with starting a new business
  and obtaining a Canadian permanent residence at the same time.  

We will discuss more in detail about the start-up visa program in the next article

Please contact us for more detailed information about the Start-Up Visa program