The new Start Up visa is a special visa for entrepreneurs in Canada that can also lead to permanent residency if the applicant is successful in launching their idea while securing funding. This is a great new opportunity for people who want to immigrate to Canada and who have entrepreneurial skills or a great new business idea that can benefit Canada.
Unlike the H1B work visa for the United States, the Start-Up Visa leads to permanent residency and is expected to be the envy of many countries who are looking for innovation, including the United States.
There are several requirements you must meet in order to apply for the Start-Up Visa.
You must be able to secure funding or investment for your idea. You have two options here. One of these options is that you obtain $75,000 from an approved angel investor, or you can obtain $200,000 in funding from a designated venture capital organization.
Once you have obtained funding, you must also be able to demonstrate that you have completed at least one year of post-secondary education, and that you can speak English or French at an intermediate level.
The Start Up visa program is currently limited to only 2750 slots per year, for five years unless the program proves popular enough to be made a permanent offering by the Canadian government. However, it is looking quite positive for this visa to be included among Canada’s many opportunities for immigrants in the future.
Do you want to immigrate to Canada under the new Start Up Visa? Our immigration law firm has helped many people immigrate to Canada under business visa programs, and we can help you with your Start-Up Visa application as well. Please give us a call at the number above to get started.
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