It doesn’t really matter if you are a student, a skilled worker or an entrepreneur to be eligible to migrate to Canada via the Canada Start Up Visa Program. Do you know why? Canada is still seeking to have one of the best economy in the whole world. One major ways of achieving this is through the aid of migrants. However, the start up visa program has more chances for entrepreneurs. Talented entrepreneurs would likely stimulate the Canadian economy and create jobs for residents.
As aforementioned the Canada Start Up Visa Program is most likely to favour entrepreneurs but migrating entrepreneurs should be able to exhibit that their business is original and has the capacity to employ residents in Canada. Below are the requirements for the Canada Start Up Visa Program. If you are interested in investing in Quebec please visit the Quebec immigration site for more update.
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REQUIREMENTS FOR CANADA START UP VISA PROGRAM
To be eligible for the Canada Start Up Visa Program applicants should:
1) Obtain Letter of Support and Commitment Certificate
Before applicants commence their application for the Start up visa program, they ought to have received from a designated investor organisation, a letter of support. This can be achieved when an applicant manages to convince angel investor group to invest in his or her proposed business. With this, the investor will provide a Commitment Certificate directly to Citizenship and Immigration Canada containing the summary of the details of the commitment made with the applicant.
2) Investment Requirement
An investment of at least $200,000 CAD must be secured by eligible applicants. However, applicants who are able to secure investments from designated venture capital fund, the minimum requirement of such investment is $75,000 CAD. Applicants who are able to get investments from a designated angel investor group aren’t expected to invest their personal money.
3) Language Requirement
There must be prove that applicants must be able to communicate and work in French and/or English. The necessary language test results from approved agencies must be met with the minimum level at CLB 5 in either of the languages (English or French).
4) Education Requirement
Applicants who are willing to apply for the Canada Start Up Visa Program must show proof of completion of at least a year of post secondary institution. Document such as transcripts, certificates, diploma and degrees will come in handy.
5) Sufficient Settlement Funds
The Canadian Immigration Program will not permit applicants to come to Canada and be stranded, therefore, applicants are meant to show financial proof that they would be able to sustain themselves and their family on arrival to Canada.
6) Security and Medical Clearances
Like all the other Canadian Immigration Programs, security clearance and medical examination is a necessity for immigrants which does not exclude the applicants accompanying family members. This is to ensure that they would not be a threat security wise or impose unnecessary burden on the Canadian Health Care System.
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