Canadian Start-Up Visa: Purchasing Permanent Residence

(You can apply for temporary visa under International Mobility Program while permanent resident application is being considered)

(Doesn’t matter if the business fails, you still have your PR)

1. Important Links

CLICK HERE, for about the process.
CLICK HERE, for minimum investment needed for start-up visa.
CLICK HERE, for after you have applied.
CLICK HERE, for temp visa under International Mobility Program.
CLICK HERE, for what is an essential person?
CLICK HERE, for WHAT IF THE BUSINESS FAILS?

Previous Articles On Immigration
CLICK HERE, for mass/replacement migration at 1M/year in Canada.
CLICK HERE, for replacement migration programs in Canada.
CLICK HERE, for replacement migration since 2003/04.
CLICK HERE, for domestic violence path to permanent residence.
CLICK HERE, for International Mobility Program.
CLICK HERE, for remittances and brain drain.
CLICK HERE, for economic migration during high unemployment.
CLICK HERE, for CANZUK (Commonwealth Freedom of Movement Org).
CLICK HERE, for TD article on true scale of replacement migration.
CLICK HERE, for student visas, PR pathway for entire families.

CLICK HERE, for Canada: amnesty for illegals pilot program in GTA.
CLICK HERE, for sanctuary cities circumventing borders.
CLICK HERE, for 22M+ illegals in U.S., amnesty programs.

2. Get Funding “Then” Come To Canada

If I understand this correctly, you secure funding either from a Venture Capitalist or an Angel, and “then” you come to Canada to build your business. Okay, this seems very counterintuitive. Don’t Angels or Venture Capitalists want to see a successful business operation prior to investing in it?

So, is this some business that someone else has been running in Canada, or are you doing it primarily via the internet and teleconferencing?

Or are you so wealthy that you can simply buy a business in Canada, have other people run it, and then just come in

3. How Much Money Needed?

What is the minimum investment that I need to apply through the Start-up Visa Program?
If the investment comes from a designated Canadian venture capital fund, you must secure a minimum investment of $200,000.
If the investment comes from a designated Canadian angel investor group, you must secure a minimum investment of $75,000.
You don’t need to secure a financial investment from a business incubator. You must be accepted into a Canadian business incubator program.

4. List Of Supporting Organizations

List of designated organizations – start up visa
To apply for the Start-up Visa Program, your business idea or venture must get the support of one or more of the designated organizations listed below:
1) Venture capital funds
2) Angel investor groups
3) Business incubators
Designated organizations are business groups that are approved to invest in or support possible start-ups through the Start-up Visa Program.
Organizations choose which business proposals to review. Each organization has its own intake process for proposals and criteria used to assess them. For example, you may be asked to present your business concept in person or submit a detailed business plan.

Venture capital funds
You must get at least one of these groups to agree to invest a minimum of $200,000:

  • BCF Ventures
  • BDC Venture Capital
  • Celtic House Venture Partners
  • Extreme Venture Partners LLP
  • Golden Venture Partners Fund, LP
  • Impression Ventures
  • Innovation Platform Capital International LP
  • iNovia Capital Inc.
  • Lumira Capital
  • Nova Scotia Innovation Corporation (o/a Innovacorp)
  • OMERS Ventures Management Inc.
  • Pangaea Ventures Ltd.
  • PRIVEQ Capital Funds
  • Real Ventures
  • Relay Ventures
  • ScaleUp Venture Partners, Inc.
  • Top Renergy Inc.
  • Vanedge Capital Limited Partnership
  • Version One Ventures
  • Westcap Management Ltd.
  • Yaletown Venture Partners Inc.
  • York Entrepreneurship Development Institute (YEDI) VC Fund

Angel investor groups
You must get one or more investors connected to these groups to agree to invest a minimum of $75,000:

  • Canadian International Angel Investors
  • Ekagrata Inc.
  • Golden Triangle Angel Network
  • Keiretsu Forum Canada
  • Oak Mason Investments Inc.
  • Southeastern Ontario Angel Network
  • TenX Angel Investors Inc.
  • VANTEC Angel Network Inc.
  • York Angel Investors Inc.

Business incubators
You must be accepted into one of these programs:

  • Alacrity Foundation
  • Alberta Agriculture and Forestry
  • Agrivalue Processing Business Incubator
  • Food Processing Development Centre
  • Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
  • Creative Destruction Lab
  • Empowered Startups Ltd.
  • Extreme Innovations
  • Genesis Centre
  • Highline BETA Inc.
  • Innovacorp
  • Interactive Niagara Media Cluster o/a Innovate Niagara
  • Invest Ottawa
  • Knowledge Park o/a Planet Hatch
  • LatAm Startups
  • Launch Academy – Vancouver
  • LaunchPad PEI Inc.
  • Millworks Centre for Entrepreneurship
  • NEXT Canada
  • North Forge Technology Exchange
  • Platform Calgary
  • Real Investment Fund III L.P. o/a FounderFuel
  • Ryerson Futures Inc.
  • Spark Commercialization and Innovation Centre
  • Spring Activator
  • The DMZ at Ryerson University
  • Toronto Business Development Centre (TBDC)
  • TSRV Canada Inc. (operating as Techstars Canada)
  • VIATEC
  • Waterloo Accelerator Centre
  • York Entrepreneurship Development Institute

This may sound cynical, but what is to stop someone from “funnelling” money through one of these Venture Capitalists or Angels, and having them approve it, after taking a cut? There doesn’t seem to be much, if anything, in the way of screening or verification by the government.

5. After You Have Applied

Confirmation of permanent residence
If we approve your application, we’ll issue you a permanent resident visa. This visa includes your Confirmation of Permanent Residence (COPR) and your entry visa.
Your COPR will have information about who you are, as well as your photograph. Please check to make sure it’s correct. It should be the same as the information on your passport. If there’s a mistake on your COPR, contact us through your account.
You must have your COPR and your visa with you when you arrive in Canada. We won’t extend your COPR, so you should make sure to use it before it expires.

That’s right. You can at often have your confirmation of permanent residence PRIOR to ever setting foot in Canada. This is basically just buying citizenship.

And if you don’t feel like waiting around to get your permanent resident status confirmed, you can always apply for an open work permit (via the International Mobility Program), and just work in Canada in the meantime.

And again, who is going to front $75,000 or $200,000 to start up a business in Canada for a “start up”, run by someone living in another country? Does this sound at all sketchy?

6. Early Entry For “Essential” People

What is an essential person under the Start-up Visa Program?
An essential person is considered to be critical to the business and will be specifically identified as essential by the designated organization on the commitment certificate and letter of support.
If we refuse the application of an essential person, all related applicants will be refused.

To recap this: Venture Capitalists or Angels are supposedly giving large sums of money to people to build a business in Canada. However they are doing this for someone who doesn’t even live in Canada, and presumably whose existing business is outside Canada. They are committing this money without any guarantee the person will be let into the country even on a temporary basis. They are committing this money with no assurance that a business run in another country will be successful in Canada.

This appears to be a very strange way to run such an operation, unless there was some other agenda at hand.

7. No Matter If Business Fails

If I immigrate through the Start-up Visa Program, what happens if my business fails?
If your business fails, it doesn’t affect your permanent resident status. We recognize that not every business will succeed and this program is designed so that the risk is shared between the public and private sector.

The program is designed so that the risk is shared by the public and the private sector? Does this mean that taxpayers will be subsidizing your losses or bankruptcy?

8. Is This Just A Pretext?

This article from Harvard Business Review explains in broad strokes how the business works, and how one gets funding.

While it is difficult enough for people working and residing within the host nation to get outside funding, it would be much more so for outsiders. So what then is the point of this program? Giving $75,000 to $200,000 for foreigners to start a business in Canada with no guarantee they could enter the country is absurd.

However, at least from the information readily available, there don’t seem to be any safeguards or checks and balances in place. It appears to rely on the honour system.

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