The Alberta immigration for business start-up visa program provides investors, entrepreneurs, and self-employed people from other countries with pathways to permanent residence.
This investment program is run and managed by Canada’s immigration department of Immigration, Refugees and Citizenship Canada (IRCC). This program gives an opportunity to investors, entrepreneurs, and self-employed individuals to obtain Permanent Residence under this category.
However, to qualify for this start-up visa program you need to have some basic qualification which is as follows: a qualifying business, Relevant work experience, Language Skills, Education, Proof of Funds.
Requirements for startup visa under the Alberta immigration for business program
The following are the conditions you need to meet, In order to be eligible for the startup visa under the Alberta immigration for business program;
Have a qualifying business
Following are the requirements under this:-
- Each individual must hold 10% or more of the voting rights connected to all shares of the corporation outstanding at that time
- Both the individual and the designated organization jointly hold 50% of the voting rights connected to all shares of the corporation outstanding at that time of application.
- At the time an individual obtain a permanent residence following are things required to be done:-
- The business has to be incorporated in Canada
- The individual must provide active and ongoing management of the business from within Canada
- A major or the vital portion of the business happens in Canada
Meet the language requirement
To be eligible for the startup visa an applicant needs to qualify and get Canadian Language Benchmark (CLB) 5 in either English or French in all the portions of test i.e. reading, listening, speaking, and writing. If the language requirement is not fulfilled the application would be rejected.
Prove that business is supported by a designated organization
Designated organizations are the business groups approved by the Canadian government in order to invest in or support possible startups. If these designated business organizations offer you a letter of support, a candidate can include the same with the application.
Show Sufficient Fund to settle
While applying for the start-up visa prove of sufficient funds should be presented so that a candidate can support and can pay for the survival for themselves and for their family members. The government does not have any sort of financial support or coverage to these candidates.