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What is Startup Visa?
The Canadian Federal Government is entrenching a pilot project for immigration called the Start-Up Visa Program. Through this program, permanent residency is offered to overseas entrepreneurs who agree upon moving their businesses to Canada.
- The program has 32 funds of venture capital, 6 groups of angel investors and 14 incubators of business.
- A support letter is required from the angel investor, venture capital fund or business incubator in Canada to support the business concept of the entrepreneur.
- Each applicant should have voting rights of 10% or above linked with all the corporation shares that are outstanding at the time of application (up to 5 individuals are allowed to apply as owners)
- Should be able to manage the business from inside Canada, actively
What is Provincial Nominee Program (PNP)?
A PNP enables nomination of an applicant on behalf of the province for migration to Canada for settlement in that particular province.
- The requirements for minimum investment, as well as net worth, vary between provinces, as each immigration program for business fits the individual provincial needs.
- A detailed business plan is a requirement of every Canadian immigration business program.
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