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Often, the founders of innovative projects that meet criteria of program to immigrate to Canada through a start-up visa are programmers or engineers, themselves. Their experience may not be enough to set up a business and run a company efficiently. In such cases, owners are actively looking for experts in HR, marketing, and other fields to form a team capable of turning a business idea into a profitable venture.
The founders invite professionals who share their vision to join the project. As a result, the start-up develops thanks to the knowledge and experience of specialists involved, who can get a share and position in the company in exchange for providing their services. This step helps a start-up become a full-fledged business, even if it has limited capital.
The executive director of the company as well as founders get a chance to move to Canada in the future under the start-up visa program if his share is 10% or more.
Each foreign national shall hold at least 10% of shares in the start-up. Foreign nationals and a legal entity collectively shall own more than 50% of the total number of shares (voting rights) in the start-up.
Foreign nationals shall obtain proof of investment intent from one of entities approved by the Canadian government.
Each applicant shall be proficient in English or French according to IELTS/CLB level 5.
Each applicant shall prove that they have the minimum required funds to move to Canada (from $13,310 for a single person to $35,224 for a family of 7).
Obtaining a temporary residence permit
as an employee of a start-up company
In case of moving to Canada before obtaining resident status on basis of a temporary permit as an employee of a start-up company, period before applying for citizenship will be reduced by half the period of residence under a temporary permit.
Thus, if the residence in Canada before obtaining residency status was 2 years, then the time required to live before applying for citizenship after obtaining residency will be reduced by 1 year.
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