Encourages prospective innovative foreign entrepreneurs to establish their business in Canada by linking with private sector organisations, where they can receive funding, guidance and expertise in operating their business, creating new jobs and driving economic growth. A strong business plan for purchasing new or existing business is required.
The applicant is required to demonstrate sufficient funds for settlement; business is supported through a designated organisation [venture capital funds (with investment of $200,000), angel investor groups (investment of $75,000), and business incubator organisations (no minimum income required but applicant must be accepted into the program)], and meeting the language proficiency. Applicants are not required to invest any of their own funds. The investor organisation must submit a commitment certificate including the agreement between the applicant and the investment organisation, to IRCC. The commitment is independently assessed by a peer review panel, established by an industry association, to assure legitimacy and due diligence, though its non-binding on the immigration officer.
Up to 5 foreign nationals may apply for permanent residence, as part of the same business start-up but if essential person is refused, the applications of all others included in the Commitment Certificate will also be refused.
If such business is unsuccessful, individuals granted permanent residence through this program, will retain their status in Canada.
Our professional team helps such candidates in preparing and submitting their applications and follow up with the IRCC; including In NOC 0 or A, getting the work permit for you and your dependants from abroad in just two weeks under certain categories.