Immigration, Refugees and Citizenship Canada (IRCC) recently announced revisions to the Start-up Visa Program. These amendments are now in effect, and the department has also announced the cancellation of previous guidelines issued by the Minister of Citizenship and Immigration.
The Start-up Visa Program is an economic immigration program under the federal government's IRCC, which complements the Federal Skilled Worker Program, the Canadian Experience Class, the Provincial Nominee Program, and the Federal Skilled Trades Program. The Start-up Visa Program will remain open for applications until March 31, 2018.
The program sets strict eligibility requirements, including educational qualifications and asset thresholds for applicants. Applicants must have completed at least one year of post-secondary education, though a diploma is not strictly required. Additionally, applicants must achieve a Canadian Language Benchmark (CLB) level 5 in speaking, listening, reading, and writing in either English or French. Applicants must also obtain a commitment from a designated member organization of the Canadian business incubator association to participate in an approved program, or invest $75,000 into an approved organization, or invest a minimum of $200,000 into a designated venture capital fund.
Source: Beijing Business Today
