Requirements for eligibility

1.  Have a qualifying business:

• You must hold at least 10% of the voting rights attached to all shares of the company
• Together with the designated organization, you must hold at least 50% of the voting rights attached to all shares of the company

2.  Have a letter of support from a designated organization:

AMH Immigration will help support you in demonstrating that you have the support of a venture capital fund, angel investor group, or business incubator. To achieve this, you’ll need to present your business concept and persuade the organization of its merit. The approach for pitching your idea will vary depending on the organization. Upon a successful pitch, you’ll obtain a letter of support from the organization, which is a crucial component of your start-up visa application.

3.  Language Requirements:

• You have to pass a language test from an approved agency and show you’re at least at a CLB 5 level in speaking, reading, listening, and writing in either English or French.

4.  Be financially stable enough to settle in Canada:

AMH can assist you in understanding the process of demonstrating proof of funds, which is essential for immigration to Canada. It’s crucial to show that you possess sufficient financial resources to sustain yourself and any dependents upon arrival. The required amount varies based on the size of your family.

5.  Plan to settle in a province other than the Province of Quebec

6.  Pass Canadian security and medical clearances

Designated organizations for start-up visa

To fulfill the eligibility criteria, you’ll be required to provide proof (in the form of a Commitment Certificate and Letter of Support) indicating that your business has received support from a designated organization. These documents will outline the specifics of your arrangement with one or more designated organizations and are essential components of your startup visa application. Unlike federal and provincial investor programs where applicants are obliged to invest their own capital, no personal investment is needed here.

Instead, eligible individuals must secure a minimum of $75,000 from a Canadian angel investor or a minimum of $200,000 from a Canadian venture capital fund endorsed by the government of Canada. Alternatively, if the applicant gains acceptance into a recognized Canadian business incubator, no investment capital is required.

Peer Review Process

To safeguard the Start-Up Visa Program from fraudulent activities, a peer review process has been implemented. This process aims to verify the legitimacy of agreements between investment organizations and foreign national entrepreneurs. Immigration officers may request an independent assessment of a commitment by a peer review panel, which is established by an industry association representing the type of investment organization involved. For instance, the National Angel Capital Organization is responsible for creating the peer review panel for angel investor groups, while Canada’s Venture Capital and Private Equity Association handles this for venture capital funds.

While peer reviews can be initiated if immigration officers believe they would aid their decision-making process, they can also occur randomly. The assessments conducted by peer review panels are not binding on immigration officers; instead, they confirm that the investment organization has followed industry standards in conducting proper checks and investigations. These reviews do not provide opinions on the wisdom or feasibility of the proposed business.

The peer review assesses the level of due diligence performed by the designated organization, ensuring that:

• The company will be or has been incorporated in Canada.
• Business ownership complies with program requirements and has been verified.
• The designated organization has evaluated the viability of the proposed business model, assessed the management team, and verified ownership of intellectual property.
• The business primarily focuses on a high-growth potential product and/or service.
• For business incubator applicants, validation of acceptance into an incubator program is confirmed.

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