Start-Up Visa Program Eligibility Criteria: It is a program for entrepreneurs. Nowadays, a large number of people migrate to Canada through different programs. The government of Canada has designed different programs for people in different fields. Similarly, the Start-Up Visa Program is designed for entrepreneurs. So, people who wish to set up and grow their businesses in Canada have an opportunity to move to Canada through this program. However, there are some requirements that need to be fulfilled to apply for the Start-Up Visa Program. So, in this post, we will have a look at the eligibility criteria of this program.
Eligibility Criteria For Start-Up Visa Program
As mentioned above, this program is for entrepreneurs. So, to be eligible for this program one must own a qualifying business. As a result, the owner should have 10% of the voting rights for the business. To be eligible for this program, business owners need to:
- Prove that their business has sponsorship from an organization in Canada
- Show that they meet the minimum language requirements (English or French)
- Ensure that they have enough funds to settle and live in Canada
- Pass security and medical tests
- Show support from a designated organization.
To apply for the Start-Up Visa Program, one needs to show that their business has support from a designated organization. These designated organizations are nothing but business groups that are allowed to invest in start-ups through this program.
So, if you are interested in this program, you need to get support from any one of the following mentioned organizations for your business.
- Venture Capital funds
- Angel Investor Groups
- Business Incubators
Furthermore, these organizations will assess your application and then decide whether to invest in your business or not. Sometimes, they can ask you to propose your business concept. And, this assessment process can be different for different organizations. If any organization seems interested in your business plan and decides to support will provide you with a Letter of Support.
Moreover, if you want to know more details about these organizations, you can CLICK HERE.
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Funds for Start-Up Visa Program
While submitting your application funds play a vital role. However, you do not need to show your own money. You need to show the funds that you will receive from the designated organizations. That also varies from organization to organization. For instance, in the case of investment from the business incubator, proof of funds is not required.
- For venture capital groups, funding of CAD $200,000 must be shown.
- For the angel investor group, funding of CAD $75,000 must be shown.
To be eligible under SUVP, candidates must meet the minimum language requirement of CLB 5 in English or French. The CLB is a system used to assess the language ability of a person. This system judges four aspects of a language reading, writing, listening, and speaking.
Medical and Security
It is very important to pass medical and security tests before migrating to Canada. For security, one will need a police clearance certificate. This will ensure that you don’t have any criminal background in your home country.
Furthermore, applicants can get a work permit through this program and start to work in Canada.
VLINK Immigration delivers the best immigration lawyers in Edmonton and Canada.
Schedule an appointment with us HERE if you need a licensed ICCRC Immigration Consultant to represent your application and streamline your path to Canada
We hope that you found this article about the Start-Up Visa Program Eligibility Criteria informational. If in case you have questions/queries related to any immigration program to Canada, please schedule an appointment with us. Our best immigration lawyers from VLink Immigration Canada will validate the profile as per the Immigration Program which is best suitable for you.