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Canada Start-Up Visa Program
CANADA START-UP VISA PROGRAM
The Canada Startup Visa Program isdesigned for entrepreneurs with innovative ideas that require a commitment from a designated organization toencourage economic growth. Other names known for this program are Canada Investor Visa and CanadaEntrepreneur Visa. This program requires a minimumfinancial commitment of 190,000 CAD and grants permanent residency in Canada.Applicants can apply for Canadian citizenship three years after.
ADVANTAGES
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Permanent residence for approved applicants
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Permission for dual citizenship-
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Responsibility to support:
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Spouse or common-law partner
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Dependent children under 22 years old
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No requirement to demonstrate the source of funds
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No age limit
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Fast processing time
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Upon approval, the right to live, work, and study
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Access to high-quality education upon approval
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Access to advanced health and welfare systems upon approval
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Opportunity to sponsor relatives
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Possibility to apply for Canadian citizenship after three years of permanent residency
REQUIREMENTS
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Applicants must prove they are innovative immigrant entrepreneurs who will promote economic growth by obtaining a commitment letter from a designated organization.
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Applicants must own at least 10% of the shares of the business and control more than 50% of the voting rights with the designated organization.
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After establishing the business, applicants must operate and manage it from within Canada.
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Applicants must meet a minimum level 5 on the Canadian Language Benchmark Test in speaking, reading, listening, and writing in English or French.
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Applicants must demonstrate that they have sufficient funds to support themselves and the dependents upon arrival in Canada.
- Applicants and family members must be in good health and have no criminal record.
INVESTMENT OPTIONS
The applicant can obtain acommitment certificate from one of the following designated organization types:
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Incubator - confirms that the applicant’s business is already participating in or has been accepted into a business development program, or
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Angel Investor Group - confirms that the applicant has received at least 75,000 Canadian dollars in investment for their business; or
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Venture Capital Fund - confirms that the applicant has received at least 200,000
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Canadian dollars in investment for their business.
PROCESS
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Appointment of an authorized representative to submit the application
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Providing evidence of language proficiency and other personal documents
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Obtaining a commitment certificate from an angel investor group, venture capital fund, or business incubator
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Submission of application form, supporting documents, and fees
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Typical processing time for a work permit application is 8-12 weeks
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Current processing time for permanent residence application is 33 months |
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