The Entrepreneur Class Program in Canada is designed to attract experienced entrepreneurs who aspire to own and operate a business there. This immigration program aims to stimulate the Canadian economy while providing job opportunities for Canadian citizens and permanent residents. Entrepreneurs interested in settling in Quebec should apply for the Entrepreneur Class Program in Canada.
The investor and their immediate family members can apply for permanent residency in Canada upon approval through the Federal Entrepreneur program. Applicants must establish a new business or acquire a minimum of 33.3% ownership in an eligible Canadian enterprise, which they must actively manage. Additionally, the company must create at least one new job opportunity for a Canadian citizen or permanent resident.
Eligibility Requirements
- Except for Quebec (see Quebec Entrepreneur Program), the applicant’s intended destination is any place in Canada.
- The candidate must have a legally obtained net worth of CAD 300,000.
- The candidate must have relevant business experience. It can be shown by prior management and ownership of a qualified business.
- The applicant or any family accompanying him must not be ruled inadmissible for medical or security reasons.
Canada will assist in qualifying small companies and startups to reach new heights as you collaborate to strengthen the economy and create jobs for its people and permanent residents like yourself.
Who is eligible to apply?
To be eligible for the Startup Visa Program, you must meet the following requirements:
- Should have a qualifying own-business
- Obtain a letter of recommendation from a designated organization.
- Fulfill the language requirements.
- Carry sufficient funds to settle.
Have a qualifying business
A qualifying business meets the standards outlined below.
- Each applicant owns 10% or more of the voting rights linked to all outstanding shares of the corporation (up to 5 people can apply as owners).
- Applicants and the designated organization together own more than half of the total voting rights attached to all outstanding shares of the corporation.
When you get your permanent residency:
- You are actively and consistently involved in the day-to-day operations of this business from within Canada.
- In Canada, an essential part of the business’s operations takes place.
- The company should be registered in Canada.
Obtain a letter of recommendation from a selected organization.
Submission of a letter of endorsement from an authorized organization (a business group authorized to invest in or assist prospective startups) is mandatory. It would help if you did the following:
- Reach out to the authorized organization to inquire about the process of obtaining their support.
- Persuade the organization that you have a viable business idea worth sponsoring
- And obtain a letter of recommendation from the designated organization
Each organization has its approach to pitching its concept and has its unique set of standards or requirements. For example, you may be requested to explain your business proposal in person or to submit a complete business plan. A letter of support will be sent to you if you achieve an agreement with a designated organization. This letter may be required when you submit your application to us and book your appointment. It is the evidence you need to demonstrate that a venture capital fund, angel investor group, or business incubator believes in your idea. The organization will also send us a commitment certificate. We’ll evaluate the Entrepreneur Class Program in Canada for India for your application using your letter of support and the organization’s commitment certificate. Please remember that we may request additional business information before deciding on your application. We will only accept your application if you provide a letter of support or meet any of the other requirements.
Fulfill the necessary language proficiency criteria
The capacity to communicate and work in English, French, or both languages will benefit your Canadian business. We will only accept your application if you take a language test from an approved organization and include the results. You must achieve the Canadian Language Benchmark (CLB) 5 in either English or French in the following four areas:
- Speaking
- Reading
- Listening
- Writing
Note: Assess your language proficiency level based on your test results. Please meet the required language skills to avoid the rejection of your application. If you require free assessment, visit our website pages and you will get all the information.