Start-up Business Visa Program is a new immigration program in Canada. This immigration program is for entrepreneurs who want to start a business that:

• is innovative;

• can create jobs for Canadians; and

• Can be internationally competitive.

The Visa for New Business program aims to connect immigrant entrepreneurs with private Canadian angel investor groups, venture capital fund organizations or business incubators (the “designated organizations”) that have already worked with start-ups and can provide essential resources. A maximum of 2,750 applications will be processed per year in the start-up business category.

A start-up business must be a new business to be carried on in Canada that meets the criteria of an eligible business and has been supported by one of the designated business organizations. Candidates must not invest their own money. In this category, a foreign national must submit a detailed business proposal to one of the designated agencies on the IRCC list. The various designated bodies will determine the commercial proposals to be evaluated and will have their own evaluation criteria. If an organization selects the business plan from abroad, which means that it is willing to invest in and / or support the business idea, it will send a letter of support and send a certificate of commitment. directly to IRCC.

Define a qualifying company as follows:

[A] corporation that is incorporated and carrying on business in Canada is an eligible business if, at the time the undertaking is made,

(a) the plaintiff holds 10% or more of the voting rights attached to all the shares of the corporation outstanding at that time; and

(b) no person or entity other than qualified participants owns 50% or more of the total amount of voting rights attached to any outstanding shares of the Corporation at that time.

If the applicant is accepted into a Canadian business incubator program, no investment from the nursery is required; otherwise, applicants must obtain one of the following documents:

• a minimum investment of $ 200,000 from one or more designated Canadian venture capital funds; or

• a minimum investment of $ 75,000 if the investment comes from at least two designated Canadian angel investor groups

Eligibility

The eligibility criteria for the entry-level visa program are as follows:

• The applicant must have a qualifying business.

• The applicant must have the support of a designated organization in the form of a letter of support / certificate of commitment.

• The candidate must meet the language requirements by demonstrating proficiency in English or French in each of the four areas of language proficiency. The minimum language requirements are 5 NCLC in the four language skill areas (speaking, reading, writing and listening).

• The applicant must intend to reside in a province or territory other than Quebec.

• The applicant must have sufficient funds for his establishment, depending on the size of the family.

You can read more at https://www.canada.ca