Dummy template application form

In Start-Up Visa Initiative, Qualified immigrant entrepreneurs are granted permanent residence in Canada under the Canada Start Up Visa program.

The program seeks to attract creative entrepreneurs to Canada, connect them with private sector organizations in Canada (such as venture capital funds, angel investor clubs, or business incubators), and assist them in establishing their start-up companies there.

Successful candidates will obtain a letter of recommendation from an organization recognized by the government (angel investor group, venture capital fund or business incubator).

The government-designated entity is principally accountable for assessing the feasibility of the applicant’s proposed business and submitting an approved project to immigration authorities along with a Commitment Certificate.

Applications are graded using the pass/fail system. Take a look at the list of designated entities.

Candidates for the Start-Up Visa program in Canada must satisfy four key qualifying standards: Have a company that qualifies; Obtain a letter of support and commitment certificate from a chosen entity as proof of their commitment; own sufficient, unencumbered, transferrable settlement funds that are updated annually (same requirements apply to skilled workers);through standardized testing, demonstrate acceptable ability in either English or French (Canadian Language Benchmark level 5)

The necessary dedication from a specified entity needs to satisfy the following requirements: A designated angel investor group must confirm that it is investing at least $75,000 into the qualifying business, or two or more pledges from designated angel investor groups totaling $75,000; OR A designated venture capital fund must certify that it is investing at least $200,000, or two or more commitments from designated venture capital, in the eligible enterprise. their applications will be denied if they make the identical business investment.

Read also; Top Secrets for Canada Citizenship and immigration 2022

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In order to start working in the company while their application for permanent residency is being processed, applicants who have obtained a Commitment Certificate from a specified body may be able to submit an application for a temporary work permit.

An application for a work permit must include: a letter of endorsement from the chosen organization; and Proof that they have enough money to cover their family’s low-income needs for an entire year.

The following requirements must be satisfied to be granted permanent residence:

Candidates must actively participate in the management of the company in Canada; The business must conduct its operations, or at least a significant portion of them, in Canada; and The company must be registered in Canada.

The Start-Up Visa Program for Canada does not apply to candidates who intend to live in Quebec.

The following designated organizations are eligible to support an application for a Start-Up Visa:

 

Specific Funds for venture capital

Designated angel investor groups

Designated business incubators

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