[Immigration] Business – Start Up Visa

      26 Apr, 2023

      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:

      The Number of
      Family Members
      Funds Required
      *Note: $3,586 is added for each additional family member; the required funds are constantly updated.

      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

      Information contained on this website is intended as general introductory information only. The information contained on this website is not legal advice. It should not be construed as legal advice and should not be relied upon as such. No solicitor-client relationship arises as a result of accessing or reading the information contained on this website.




      Posted in: Immigration Law


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