Canada Start-Up Visa Is Now Welcoming More Entrepreneurs With Open Arms

05 Oct 2018

With the US planning to cancel the start-up provision of its foreign Entrepreneur Rule, Capable entrepreneurs are shifting their concentration towards Canada. Many foreign entrepreneurs have been immediately affected by the move started by the government of Donald Trump and are no longer able to begin their US businesses.

Canada Start-up Visa Program is growing hugely famous among such entrepreneurs. A sum of 200 applicants has already received Canada PR below the program since February this year. These applicants have also begun 130 unique businesses in Canada. Concurrence to the US and a nurturing atmosphere for start-ups are the critical factors that bring entrepreneurs to Canada.

Canada Start-Up Visa program

Canada began the Start-Up Visa program as a pilot project of five-year in 2013. It grew a permanent program on March 31, 2018. Below the program, qualified immigrant entrepreneurs can get Canada PR. The program also combines these entrepreneurs with the businesses in the private sector of Canada such as venture capital funds, angel investor groups or business incubators.

Entrepreneurs Eligibility Requirements

To qualify below the program, the entrepreneurs should meet the following primary eligibility requirements:

• A Letter of Support or Commitment Certificate received from an authorized entity
• Enough settlement funds that are interchangeable
• Have achieved minimum one year of post-secondary education
• The necessary level of proficiency in the language (English or French)

Businesses Eligibility Requirements

• The company must be included
• They must be operating the business in Canada at the time of obtaining the commitment
• The candidate must own at least 10% of voting rights in the company
• No other individual must contain 50% or more of the whole amount of voting rights in the company.

Below the Canada Start-Up Visa Program, maximum five persons can appeal for PR visa carried by the same business investment.

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