Alberta starts new stream- Foreign Graduate Start-up Visa

Alberta has launched an economic immigration program in January this year to attract talented individuals and encourage them to start their businesses in the province. The new immigration stream is the Foreign Graduate Start-up Visa stream. It is opened in association with the Alberta Immigrant Nominee Program and designated agencies with proper approval.

Are you eligible?

The province has set up some essential requirements for the newly launched Foreign Graduate Start-up stream. Here are the following requirements:

A degree from a post-secondary academic institution.
Educational Credential Assessment report for the degree.
Work experience of a minimum of 6 months in the role of a manager or an owner of a business.
A full business plan with sufficient funds required.
Minimum CLB level of at least 7 in either French or English.
A PPT of 10-minutes regarding the proposed business plan and scheme.
Applicants must have an ownership of 34% if they plan to locate the business in an urban center and if the business is located outside Calgary and Edmonton Census Metropolitan Areas, they would require to have an ownership of 51%.
The minimum investment needed to set up the business in an urban center is $100,000, and $50,000 for the regional area. However, candidates are eligible to secure more points for higher levels of investment.
Applicants must have a letter of recommendation from a designated agency that is approved by the Alberta Immigrant Nominee Program.
The minimum settlement funds on the basis of the Low Income Cut-Offs.

Foreign graduates who intend to apply for the AINP through the FGSVS have to be employed with a designated agency in order to get a letter of recommendation. They will be required to submit this letter of recommendation along with their Expression of Interest profiles to the AINP. So, you if fulfill all these requirements and want to own a start-up in Canada, you might consider applying to Alberta’s Foreign Graduate Start-up Visa Stream.