This program is aimed at entrepreneurs who have the skills and capacity to start an innovative business in Canada which has the potential to create Canadian jobs and that can compete on a global scale.
To qualify, the entrepreneur must obtain a letter of support from a Canadian business incubator who will ensure the acceleration of his innovative business idea, possess a level 5 under the Canadian Language Benchmark in French or in English ("basic intermediate level") and demonstrate having enough money to settle in Canada and support his family members for the first 12 months. Once determined by the Canadian federal government that the entrepreneur meets these conditions, the entrepreneur, his or her spouse and dependent children under the age of 22 will be granted permanent resident status in Canada. However, they cannot settle in Quebec with this program.
In addition, it should be noted that this program allows the entrepreneur to obtain a Canadian work permit so that he can develop his start-up on site when processing his application for permanent residence. The spouse can apply for an open work permit simultaneously while the dependent children have access to a study permit.
In summary, to qualify for the Canadian Start-up visa program, applicants must:
- Obtain a letter of support from a designated entity;
- Possess the necessary funds to settle in Canada with the accompanying family members. For reference purposes, the funds required for a family of four are $ 24,083 CAD according to the regulation in effect in February 2020;
- Demonstrate proficiency in English or French equivalent to level 5 of the Canadian Language Benchmark in speaking, reading, listening and writing.
- Have satisfactory medical examinations and police certificates for all family members.
- Provide active and ongoing management of the business from within Canada at the time of obtaining permanent residence. An essential part of the operations of the business must happen in Canada.
The Start-up visa processing time is 12 to 16 months at the start of 2020.