Canada’s start-up visa program has welcomed 250 immigrants in the last five months and is set to welcome 600 new permanent residents in 2022, the highest number since its launch in 2013, Canada Immigration News reported. The start-up visa offers a unique opportunity for immigrants in Canada. As Canada opens up more and more after the Covid pandemic, the start-up visa can be a choice for immigrants wishing to settle in Canada.
What are the basic eligibility requirements for Canada’s start-up visa?
The basic eligibility requirements for the visa include: having a qualifying business, having a letter of support from a designated organization, meeting the language requirements and having enough money to settle and live in Canada before you make money from your business.
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What is the minimum investment required to apply for Canada’s start-up visa?
If the investment comes from a designated Canadian venture capital fund, a candidate must secure a minimum investment of $200,000. In case investment comes from a designated Canadian angel investor group, a minimum investment of $75,000 is to be secured.
How can a candidate secure support from a designated organisation?
Through contacting the designated organisation the candidate can find out how to get support. Moreover, the organisation must be convinced that the idea of business is worth supporting.
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What happens if the business fails?
If a candidate using the start-up visa is not able to do well in their business, it will not affect their permanent resident status.
