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How does the startup visa work ?

mheat

Newbie
Nov 7, 2017
6
0
If you want to start a company in Canada, you should receive a letter of support from a venture capital firm or an angel investor, which basically means that they should invest around 200k in your startup, right ? But venture capitalists and angel investors want an ownership stake or equity in exchange for the money they give you. But how do you give them an ownership stake or equity, when you haven't started your company yet (because you don't have the visa yet) ?

One more question: Is there a minimum educational requirement for the startup visa ?
 

scylla

VIP Member
Jun 8, 2010
63,417
8,522
Toronto
Category........
Visa Office......
Buffalo
Job Offer........
Pre-Assessed..
App. Filed.......
28-05-2010
AOR Received.
19-08-2010
File Transfer...
28-06-2010
Passport Req..
01-10-2010
VISA ISSUED...
05-10-2010
LANDED..........
05-10-2010
You need to have a strong enough business idea and business plan to get the support of venture capitalists and angel investors before you've actually started the business.

The minimum educational requirements used to be post-secondary. I don't know if that's still the case.
 

mheat

Newbie
Nov 7, 2017
6
0
You need to have a strong enough business idea and business plan to get the support of venture capitalists and angel investors before you've actually started the business.

The minimum educational requirements used to be post-secondary. I don't know if that's still the case.
Yes, but I mean where do they actually put they money ? Because a letter of support means investing 200K right ?

About the second question: But now on the Government of Canada there is nothing about the minimum educational requirement for the startup visa. Did they remove that requirement ?
 

scylla

VIP Member
Jun 8, 2010
63,417
8,522
Toronto
Category........
Visa Office......
Buffalo
Job Offer........
Pre-Assessed..
App. Filed.......
28-05-2010
AOR Received.
19-08-2010
File Transfer...
28-06-2010
Passport Req..
01-10-2010
VISA ISSUED...
05-10-2010
LANDED..........
05-10-2010
Yes, but I mean where do they actually put they money ? Because a letter of support means investing 200K right ?

About the second question: But now on the Government of Canada there is nothing about the minimum educational requirement for the startup visa. Did they remove that requirement ?
A letter of support is a commitment to invest - not an actual investment.

I've already answered the second question as best as I can. I have no further info I can provide.
 
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mheat

Newbie
Nov 7, 2017
6
0
A letter of support is a commitment to invest - not an actual investment.

I've already answered the second question as best as I can. I have no further info I can provide.
Thank you. So basically in that letter of support, the investor is saying that once you start the company he will invest in it ?
 

wounderful

Hero Member
Oct 18, 2012
322
6
Pakistan
Category........
Visa Office......
Islamabad - London
NOC Code......
3111
Job Offer........
Pre-Assessed..
App. Filed.......
26-06-2005
AOR Received.
17-07-2005
IELTS Request
original sent with application
File Transfer...
30-09-2010
What basically incubators do provide as they are not providing investments. And If the applicant has to fulfill the financial for startup its company in Canada (i.e. apart from financial support as per No. of family members)
 

wounderful

Hero Member
Oct 18, 2012
322
6
Pakistan
Category........
Visa Office......
Islamabad - London
NOC Code......
3111
Job Offer........
Pre-Assessed..
App. Filed.......
26-06-2005
AOR Received.
17-07-2005
IELTS Request
original sent with application
File Transfer...
30-09-2010
hi, please share what incubators do with my start up in financial side
 

mhkash

Full Member
Nov 11, 2017
22
1
Hi,
does anyone know how long the processing time takes? I am eligible for BC PNP (paper based) and also I have the letter of support for my startup company. I know BC PNP takes almost 18 months, but I could not find anything for startup visa program. Which way is faster?
Thanks for your advice.