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Federal Start-up Visa

Federal Start-up Visa

Federal Start-up Visa 

Entrepreneurs with ground-breaking business ideas can explore business opportunities in Canada by leveraging the Federal Start-up Visa Program. Canada is looking forward to boosting its economy and creating employment for its residents by welcoming innovative entrepreneurs keen on doing business in Canada. Professional immigration experts can help you complete the application process and other formalities to support your Canada dream.

A Brief Overview

The Federal Start-up Visa Program enables immigrants to become permanent residents, provided they qualify as immigrant entrepreneurs. The Start-up Visa Program enables immigrants to skip temporary visas, work permits, and visitor visas to get Permanent Resident Visa. Alternatively, you can initially get a work permit with the support of your designated investor in Canada and then qualify for permanent residence as the business picks up.

The program is also known as Canada Start-up Class and aims to encourage entrepreneurs to have the ability to operate innovative businesses and boost Canada’s labor market and economy. You require a creative business idea and a letter of support from a Canada-based designated organization. Following are Start-up Visa Designated Entities:

  • Angel Investor– The business must invest a minimum of $75,000 in your Start-up. You may get two different investors to reach the minimum investment criteria of $75,000
  • Venture Capital Fund– The entity must assure investing a minimum of $200,000 in your business venture.
  • Business Incubator-There should be a letter indicating acceptance of our business.

Eligibility requirements for the Federal Start-up Visa Program

You must meet the following requirements to qualify for the Federal Start-up Visa Program

  • Meeting language requirements– Show proof of language proficiency in reading, listening, and writing English or French. You may take a language test from an approved language testing agency to meet a minimum level of Canadian Language Benchmark 5
  • Business qualification– You are holding a minimum of 10 percent voting rights through shares of your company and have at least 50 percent shares along with the designated organization in the company
  • Letter of support from Canada-based designated entity– You should procure a letter of support from a designated entity by pitching your business idea for their support. The letter of support from the Canada-based designated entity is helpful to demonstrate that you have the backing of the Canada-based designated business entity.
  • Proof of funds– Based on the family size, you need to provide the proof of funds to support your daily living expenses upon arrival in Canada.

The application processes 

Know the steps to complete the application process of the Federal Start-up Visa program

  1. Print the application form by filling out the necessary details and validating the same
  2. Gather the vital documents and take a print of checklist of documents which will serve as a cover page of the application
  3. Make a payment of fees that include processing fees, right of permanent residence fees, biometric fees, and third-party fees.
  4. Mail the application and documents to the appropriate address by checking everything and putting signs and dates in relevant spaces.

The aspiring applicant of the Federal Start-up Visa program should wait for about four to six months to procure a letter of support from the designated. The entire process of obtaining the visa may take up to 18 months.

The successful applicant of the Federal Start-up Visa Program can operate businesses in Canada with no hassles. They can associate with Canada-based companies to benefit from their expertise, funding, and guidance.

Canada benefits from the arrangement with a boost to the economy and the availability of middle-class jobs. Hundreds of start-up applicants are already contributing to Canada’s progress by leveraging the program as a vital permanent residence pathway.

ASI Immigration assesses your ability to qualify for Federal Startup Program and assists in preparing a perfect application. Call us to know about our prompt and strategy-driven immigration services.

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