Alberta has launched the Foreign Graduate Start-Up Visa Stream

Alberta province of Canada has launched a new immigration pathway, i.e. Foreign Graduate Start-Up Visa Stream (FGSVS) on January 27, 2021. Hence, the eligible candidates can now submit EOI for this program. It is an economic immigration program, which will nominate talented and qualified overseas-educated graduates from outside Canada for permanent residence once they launch start-up enterprises and innovative businesses in Alberta. The FGSVS is an association between the Alberta PNP and approved designated agencies.

 

Foreign Graduate Start-Up Visa Stream of AINP

International graduates interested in applying under the FGSVS need to work with a designated agency. This agency will issue a letter of recommendation if it considers that the foreign graduate fulfils the Alberta Immigrant Nominee Program (AINP) requirements. The foreign graduate needs to submit the letter of recommendation with their EOI via the AINP Portal.

Also read-Alberta PNP- Program, process and requirements.

Eligibility requirements

Find below some essential requirements for FGSVS:

• At least six months of full-time work experience, which can be a combination of actively managing /owning the business or equivalent (equivalencies are work experience with a business incubator or business accelerator).
• Accomplishment of a degree from a post-secondary institution outside of Canada within the last two years with an Educational Credential Assessment (ECA).
• A business plan with projected financials.
• Minimum CLB level of 7 for each English/French language skill
• A 10-minute PPT that summaries the proposed business scheme and focuses on what an investor would want to see.
• Need to have at least 34% ownership if the business is located in an urban centre or a minimum of 51% ownership if located in a regional area outside Calgary and Edmonton Census Metropolitan Areas (CMAs).
• A minimum level of investment from applicant's (or spouse or common-law partner) own equity or an acknowledged Canadian financial institution, venture capital, or angel investment firm before coming to Alberta. The mandatory minimum investment for an urban centre is $100,000 while the compulsory minimum investment for a regional area is $50,000. Higher levels of investment before coming to Alberta shall get more points. You will get points either for an urban centre or regional area, not both.
• Need to have a letter of recommendation from an AINP-approved designated agency.
• An applicant needs to show he/she has the funds required to establish business and support themselves while on a work permit and launching a start-up.
• Minimum settlement funds requirements will be as per the Low Income Cut-Offs (LICOs).

If you plan to apply for Skilled PR visa, study visa, family-sponsored visa, etc. in Canada, you may contact Visas Avenue for trusted assistance. Its leading Visa consultant for Canada.

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