PROGRAM FOR START UP VISA – Get PR after 12 months

[lamnx2002]

Hi all,

I just met a consultant; they advised start-up visa currently seems to be the best way to get PR after 12 months. It sounds interesting to me except that the fee is quite high. Appreciate your kind comment on below information:

Condition

· IELTS 5.0

· 300,000 CAD in cash

· Have a good / innovative Idea on business

· Consultant fee (for local consultant) 40,000 USD

The breaking down of 300,000 CAD is as blow

· 39,000 CAD to study start up course in three months with the incubator

· 101,000 CAD is the fee of the incubator

· 80,000 CAD is the capital for the start-up company in Canada. The incubator will transfer back this 80,000 CAD to the start-up company as soon as the start-up company established in Canada

· 80,000 CAD admin fee of the incubator

Progress

· Sign MOU local consultant

· Have a interview with the incubator about the start-up idea

· If the incubator is not happy with the idea -> stop at here

· If the incubator is happy with the idea -> go further as below

· Pay 39,000 CAD to study the 3 months start-up course with the incubator

· Sign contract with the incubator

· Pay 261,000 CAD to the incubator

· Apply for work permit

· Move to Canada and set up the start-up company

· The incubator refund 80,000 CAD to the start-up company

· Apply for PR for all family members

· After 10-12 months get PR for whole family

 

[Mauchan]

The process sounds extremely shady, and the fees are exceptionally high.

 

[itsmelee]

Yeah, this is nuts. Most incubators I've seen range from $10k - $40k; the higher ones taking no stake in your business, with the former usually a few % (which obviously could, over time, be higher than the fee you quoted -- but by then you're a success and already have PR, so who cares.)

$300k is crazy.

 

[dakep64808]

Can you share the name of the Incubator? and What was the acceptance criteria?