Permanent Residence in Canada
The Start-Up Visa is an opportunity to get permanent residence in Canada and develop businesses in regions outside the province of Quebec. The program is designed for talented entrepreneurs who are ready to provide local jobs and create an innovative company that can compete globally. The candidate can get approval and attract investment in their project from three possible sources:
- Angel-investor groups. These companies are ready to invest in promising startups at the early stages of development. The applicant needs to raise at least CAD 75,000 (USD 54,000).
- Venture capital funds. The visa applicant needs to get one of the groups to agree to invest more than CAD 200,000 (USD 145,000) in the venture. Venture capital funds usually finance startups that already have some track record and are ready to scale.
- Business incubators. These are organizations whose goal is to support businesses at all stages until they make a profit. Unlike the first 2 options, business incubators do not require mandatory investment. They provide startups with access to resources, mentorship, and contacts, which can significantly increase the chances of successful business development. To receive support, you need to be accepted into one of the designated programs.
Status through the Start-Up Visa is granted indefinitely. At least 730 days of residency within the last 5 years is required to maintain residency.
Conditions for obtaining permanent residence in Canada
The applicant needs to:
- Complete an application form.
- Have a business that meets the required criteria.
- Obtain a letter of support from the selected company, which is valid for 6 months.
- Meet the English or French language requirement: CLB 5 test.
- Confirm sufficient funds to live in the country: from CAD 14,690 (USD 10,600) per 1 person.
The business must meet the following criteria:
- No more than 5 owners.
- Each applicant has at least 10% of the total number of voting rights.
or:
- The applicant and the designated organization must have more than 50% of the total voting rights.
Documents for a Permanent Residence in Canada
To get a permanent residence in Canada, you need to provide:
- Application for entry—form IMM 0008.
- Declaration of Dependents— IMM 0008DEP.
- Background information about yourself—IMM Form 5669.
- Travel information—form 5562.
- IMM 0008 form for Start-up program.
- Information about family members—form IMM 5406.
- If using the services of a representative—IMM Form 5476.
- Passport.
- Photographs.
- English and/or French language certificates.
- Letter of support.
- Birth, marriage, divorce, and other certificates for the applicant and family members.
- Certificate of no criminal record.
- Proof of sufficient funds.
- Receipts for payment of fees.
Documents must be translated into English or French. The translation can be done by professional Canadian translators or by non-professional translators with an affidavit attesting to the language proficiency and accuracy of the translation. The affidavit must be certified in the presence of a notary or commissioner, which depends on whether the applicant is in or out of the country. Translators accredited in Canada do not need to submit an affidavit.
Canadian Citizenship
To obtain a Canadian passport, you must have permanent resident status and have lived in Canada for 3 out of the last 5 years. Other conditions include passing a citizenship test, proving language skills, filing tax returns, and taking an oath.
