Canada Start-up Business Class
This program is one of Canada’s economic category programs, and it is designed to attract innovative entrepreneurs who have the potential to build and operate businesses in Canada that are innovative, can create jobs for Canadians and can compete on a global scale, and support them through support services and funding.
It is a paper-based application program where applicants must fulfill the requirements and fill the required application forms, and send them to the Intake office for processing along with with all the supporting documents which are published through the Documents checklists in the IRCC (Immigration, Refugees, and Citizenship Canada) website.
In this program applicants must meet the following criteria:
- Applicants must have a the support of a designated organization; the business idea must be supported through one or a combination of Venture Capital Funds (the minimum investment must be 200,000 CAD), Angel Investor Groups (The minimum investment is 75,000 CAD) and Business Incubators, who will provide funding and expertise and support to the applicant’s business, applicants must contact these organizations and propose their business idea and accordingly receive a letter of support from this organization.
- Applicants must meet the minimum language requirement level either in English or French language, in the areas of speaking, reading, writing and listening.
- Applicants must provide active and ongoing management of the business in Canada, and they must hold a minimum of 10% of the voting rights in the corporation, in addition to the requirement that applicants and the designated organization must hold more than 50% of the total voting rights in the business. It is important to note that during the assessment of the permanent residency application, applicants can apply for a temporary work permit in order to start building the business.
- Applicants must pass the medical admissibility tests, and must provide police certificates and biometrics, and must proof that they have enough settlement funds for them and their family members.
After the IRCC (Immigration, Refugees and Citizenship Canada) receives the application package, it will be processed and assessed within an average period of 12 to 16 months, where applicants will receive a decision on their applications and receive the permanent residency accordingly.
Immigration, Refugees and Citizenship Canada – Operational Manual for Assessing Start-up Business Class Applications