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Canadian Permanent Residence for Entrepreneurs: Startup Visa Program Overview

For entrepreneurs eyeing Canada, the Startup Visa Program offers a unique pathway to permanent residence, focusing more on the potential of a business idea than the capital invested. Notably, the obtained permanent residence permit remains valid even if the business project encounters challenges.


Minimum Capital Requirements:

- $143,000 from a venture capital fund
- $53,500 from business angels
- $0 from a business incubator (with some charging fees, starting at $7,000)

Program Highlights:

- The emphasis is on innovative businesses.
- Each applicant should hold a minimum of 10% of all shares with voting rights.
- A significant portion of business operations must occur within Canada.


Main Stages of Permanent Residence Acquisition:


1. Consultation with a Lawyer:
   - Given the complexity, seeking legal advice for document preparation and case building is crucial.


2. Project Approval:
   - Formulate and submit your business idea, outlining its significance, innovation, and operational details for evaluation by an authorized organization.


3. Guarantee or Letter of Support:
   - Upon a positive decision, the organization issues a guarantee certificate to immigration services and a letter of support to the applicant.


4. Permanent Residence Application:
   - Collate and submit the required documents for the permanent residence application.


5. Relocating to Canada:
   - Applicants can move to Canada on a short-term visa while awaiting permanent residence or relocate post a positive response.


6. Permanent Residence Issuance:
   - Once approved, a permanent resident card will be issued.


Navigating the Canadian Startup Visa Program is intricate, making professional legal consultation essential for a successful application."


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