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If you are a solo-founder entrepreneur looking to enter Canada with a work permit and be nominated for Permanent Residency (PR) without all the fees, craziness, and hassles of the Federal Startup Visa (SUV) program, the Alberta FGES, essentially a provincial Start-Up Visa program, might be the answer. The government policy changes to the Federal SUV program as of April of this year, led to SUV allocation hogging, some designated organizations running out of spots for 2024, and prices skyrocketing. However, the Alberta entrepreneur program still allows for unlimited Letters of Support and has not suffered from increased prices. Obviously, there are some differentiations in the programs but for some applicants, it might be the perfect alternative.
Do you want to become a PR in Canada? At INGWE we could support you! Get a FREE email assessment with one of our licensed immigration consultants. We speak over +8 languages and we have helped applicants from +50 countries in their immigration path to Canada. Fill out our form, click here.
First, you need an innovative business concept. It can be in the early stage or an existing business overseas or currently operating inside Alberta, Canada in any of the following industries:
* Technology
* Aerospace
* Financial services
* Energy
* Agriculture
* Tourism
* Life sciences
* Pharmaceuticals
In addition, you need to meet the following criteria:
* Plan to settle in Alberta, at least until the PR stage
* Have a Canadian Language benchmark of 5 in English or French through IELTS, PTE, CELPIP, TEF or TCF. (This is the same score you need for the Federal SUV program).
* Have a business plan, pitch deck and your concept ready with your designated organization such as Platform Calgary. They will also assist you to fine tune and prepare it before being presented to the Alberta Provincial Nominee office
* Provide evidence of some basic work experience overseas for at least 6 months OR show work experience with an incubator or accelerator for that period to become exempt.
* Provide a net worth statement (which will be audited later after you have been invited to apply)
* Possess a 2-year diploma or higher post-secondary education completed in the past 10 years
* Show evidence of available Investment funds of $50,000 or $100,000 CAD depending on the proposed business location. This fee does not exist with the Federal SUV program, but with the new restrictions, you might pay the same fees or higher just to get one of the highly competed for Letter of Support. Keep in mind that with this provincial program, you’re investing in your own company.
* Show evidence of minimum settlement funds.
* Have at least 34% or 51% ownership of the startup or business depending on where in Alberta you plan to set up. You can even connect with other external investors, partners or Canadian permanent residents or citizens. But for immigration purposes, the solo founder is the only person eligible to apply for the work permit and subsequent PR.
Do you want to become a PR in Canada? At INGWE we could support you! Get a FREE email assessment with one of our licensed immigration consultants. We speak over +8 languages and we have helped applicants from +50 countries in their immigration path to Canada. Fill out our form, click here.
Once the above documents are approved, you’ll continue to the next steps:
1: Submit a net worth audit to prove you meet the minimum requirements.
2: Receive a letter from the provincial office, inviting you to apply for the work permit for your Start-Up to enter Alberta.
3: After 1 year of running your business here, as a provincial candidate, you will receive a nomination certificate to apply for your permanent residency in Canada.
Making actual profits is not a requirement of this program or any other program, although that must be the intention of the business (for profit only with economic benefit).
* The provincial approval rate for the work permit is significantly higher than the federal rate.
* The Permanent Residency processing is much more streamlined because the province will have already been tracking your business progress and issued a nomination. Therefore, when your PR is applied, as long as you and your dependents maintain eligibility, you will be processed for PR.
* There is no priority processing given to incubators, VC’s or Angel Investors in this program. It’s all the same
Do you want to become a PR in Canada? At INGWE we could support you! Get a FREE email assessment with one of our licensed immigration consultants. We speak over +8 languages and we have helped applicants from +50 countries in their immigration path to Canada. Fill out our form, click here.
Even though this entrepreneur stream has many benefits, it might not be for everyone. The following determiners might exclude you from this program:
* You do not want to enter Canada with a work permit until your PR.
* You do not want to reside in Alberta until your PR is issued.
* You plan to start a conventional business such as a retail store, restaurant, coffee shop or fast-food franchise.
* You have not graduated from a post-secondary program of min. 2 year or more in the past 10 years.
* You want to do a group activity with 3-4 friends and family in one SUV group, as the Alberta program is only for solo-founders.
Do you want to become a PR in Canada? At INGWE we could support you! Get a FREE email assessment with one of our licensed immigration consultants. We speak over +8 languages and we have helped applicants from +50 countries in their immigration path to Canada. Fill out our form, click here.
If any of the above qualifiers take you out of the running for Alberta’s SUV program, you might still want to consider the Federal Start-Up Visa program, despite the high fees, laser scrutiny by IRCC officers and increased risks with a group application, it is still a really great alternative and one of the few options for direct PR to Canada. Further explanation on the recent Federal SUV program changes and implications can be found on our YouTube channel. But, if you’re interested in the provincial SUV program with no annual caps, then you can also learn more here. This alternative is one of the most under-valued and overlooked programs in all of Canadian immigration. Remember, the key is to understand the risks in advance and have alternatives. You do have choices – sometimes not all perfect, but the key is to apply with a plan based on your eligibility, timeline, and ultimate goal and intention.
If you’re thinking about immigrating whether permanently or temporarily - you’re at the right place! Our team speaks over +9 languages, and we help applicants from over 50 different countries during their immigration process. Get a FREE email assessment, click here.
If you’re ready to apply and would like a 1-on-1 session with me or one of immigration team members at INGWE, you can also book a session directly using this consultation link.
