Successful candidates will receive a letter of support from a government-designated entity: angel investor group, venture capital fund or business incubator.
The government designated entity is primarily responsible to determine the viability of the applicant’s intended business and present an approved project, along with a Commitment Certificate, to the Canadian immigration authorities.
In order to qualify, the intended business must be incorporated and carrying on business in Canada at the time the commitment is made and:
- The applicant owns a least 10% of the voting rights in the corporation; AND
- No other person holds 50% or more of the total amount of voting rights in the corporation.
Up to five applicants may have their application for permanent residence supported by the same business investment. However, certain applicants may be designated essential to the intended business. If any of the essential applicants withdraw their application or are refused for other reasons, all other applicants under the same business investment will see their applications terminated.