The Start-Up Visa Programs – Manufacturing Canada’s Gain

Shortly after the November 2016 election of US President Donald Trump a realization spread around the globe that things really were going to change. For nearly two and a half centuries the United States had been the land of opportunity for innovators, inventors, academics and entrepreneurs but suddenly everything was going to be different. That realization, as chilling as it was, didn’t stop those who wanted to be innovators or inventors or academics or entrepreneurs from trying to get to get into the States.  The number of visa applications for foreigners trying to make something of themselves and their ideas in the United States rose in 2016, even as the mood of the electorate swayed dangerously away from common sense and reason. It wasn’t until early March, a few short weeks after he was sworn in that the Trump administration tried to introduce its first immigration ban, the one that was struck down by state courts but recently reinstated in a modified form by the US Supreme Court. The chaos caused at dozens of airports in the United States and around the world aptly demonstrated there were still tens of thousands of people willing to risk virtually everything for the chance to develop their brains or businesses in America.

The rise in US visa applications had been accelerated by two key policies the Obama administration championed; a Start-Up Visa for entrepreneurs who could invest in forming a business in America, and the International Entrepreneur Rule which would give short-term legal status to immigrants who raised $250,000 or more in business funding. These two policies would have helped attract even more of the world’s best and brightest to the world’s most dynamic and generous economy but, because American politics have turned insular and because the Trump administration is overtly keen on barring America’s doors, these two policies have quietly been killed.

America’s behaviours do not go unnoticed in Canada. Even before the ascension of the Trump administration and the oblivious abdication of reason by the American electorate, Canadian officials were examining and copying many of Obama’s most attractive immigration policies.

Canada has built an extremely strong tech sector which, like most parts of our economy, is very much integrated with its American counterparts. Information and services flow freely across a virtually invisible border with American and Canadian tech firms competing as equals under the North American Free Trade Agreement. It is relatively easy for tech companies based in Canada to enter and succeed in the American market. Similarly, it’s relatively easy for Canadian based firms to court American investment capital. Canada is thus a highly desirable place to base a start-up. The moment they heard about Obama era immigration policies favouring start-ups and tech entrepreneurs, Canadian officials started planning our own.

In early 2017, Canada has adopted its own version of a Start-Up Visa program. It is available to, “… immigrant entrepreneurs with the skills and potential to build businesses in Canada that are innovative, can create jobs for Canadians, and can compete on a global scale.” (source: https://www.cic.gc.ca/english/immigrate/business/start-up/index.asp)

To apply for a start-up visa, you need to meet a series of eligibility requirements.

First, you need to get support from a “designated organization”. This might come in the form of an investment of $200,000 or more from 1 of 22 venture capital funds listed on the Immigration and Citizenship website. It might also come in the form or a $75,000 angel investment from a person associated with 1 of 7 listed funders or from acceptance into 1 of 26 business incubators listed on the site.  (source: https://www.cic.gc.ca/english/immigrate/business/start-up/eligibility/entities.asp)

Next, applicants must show that their business meets two basic ownership and decision making requirements. Up to five persons can apply for a Start-Up Visa as owners of a business. Each person applying must have at least 10% voting rights in the business. A minimum of 50% voting rights must be shared between the owners of the business and the Designated Organization supporting their application. In other words, the owners and supporters must have control of the organization.

A language test in either English or French must be taken to ensure the business owners can communicate through speaking, listening, reading, and writing in one of Canada’s two official languages. Applicants will be refused if they do not meet basic levels of proficiency.

Lastly, applicants need to be able to prove they can support themselves and their family members when they arrive in Canada. On its own, the Start-Up Visa program does not provide any material or financial support. Applicants are expected to have a minimum of $12,300 in cash (or savings) to provide shelter and sustenance for themselves. This figure rises by $3,314 for each additional family member. Travelers are advised that they must make a declaration to a Canadian customs official upon arrival if they bring more than $10,000 into Canada. This rule would apply to an applicant for a Start-Up Visa when they enter the country.

Best of all, the Canadian government recognizes that not all business succeed so, if successful applicants give it an honest effort but their start-up fails anyway, the failure will not affect their permanent resident status.

Canada is open for immigrants to bring their talents and ideas here. When they do, establishing themselves in a business centre like Telsec is often beneficial as the business centre takes care of the support work and allows new Canadian businesses to get on with their jobs of innovation, invention, development, and entrepreneurship, just as they dreamed of doing before coming here.

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Hotels

1. Jennifer Smith
General Manager
The Omni King Edward Hotel
37 King Street East
Toronto, ON
M5C 1E9
Tel: 416-863-9700
Website: www.omnihotels.com/hotels/toronto-king-edward

2. Mark Perry
General Manager
Executive Hotels and Resorts (Boutique)
8 Colborne Street
Toronto, ON
M5E 1E1
Tel: 416-350-2419
Website: www.spazen.ca or www.cosmotoronto.com

3. Emeline Boul
General Manager
Hotel Victoria (Boutique)
56 Yonge Street
Toronto, ON
M5E 1G5
Tel: 416-363-1666
Mobile: 647-574-5832
Website: www.hotelvictoriatoronto.com

4. Omkar Sawant
Reservations Manager
One King West Hotel
1 King Street West
Toronto, ON
M5H 1A1
Main: 416-548-8100
Reservations: 1-866-470-5464
Website: www.onekingwest.com

5. Van Nguyen
General Manager
Cambridge Suites Toronto
15 Richmond Street East
Toronto, ON
M5C 1N2
Direct: 416-601-3757
Hotel: 416-368-1990
Website: www.cambridgesuitestoronto.com

Restaurants

1. Michael Pagliaro
Carisma (Italian)
15 Toronto Street
Toronto, ON
M5C 2E3
Tel: 416-864-7373
Website: www.carismarestaurant.com

2. Patti Shaw
Terroni (Italian)
57 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-203-3093
Website: www.terroni.com

3. Declan
Restaurant 20 Victoria – Michelin guide approved
20 Victoria Street
Toronto, ON
M5C 2A1
Tel: 416-804-6066
Instagram for reservations: https://www.instagram.com/twentyvictoria/

4. Mana
Nami (Japanese)
55 Adelaide Street East
Toronto, ON
M5C 1K6
Tel: 416-362-7373
Website: www.namirestaurant.ca

5. Restaurant Lucie
100 Yonge Street
Toronto, ON
M5C 2W1
Tel: 416-788-9054
Website: www.restaurantlucie.com

6. Niam H
Cantina Mercatto
20 Wellington Street East
Toronto, ON
M5E 1C5
Tel: 416-304-0781
Website: www.cantinamercatto.ca

7. Siva Sathasivam
Uncle Tony’s
38 Wellington St E
Toronto, ON
M5E 1C7
Tel: 416-455-6650
Website: https://uncletonys.ca/

8. Pizzaiolo
104 Yonge Street
Toronto, ON
M5C 2Y6
Tel: 416-860-0700
Website: www.pizzaiolo.ca

9. Robin Singh
Woods Restaurant and Bar
45 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-214-9918
Website: www.woodsrestaurant.ca

Health and Wellness

1. Thom Tullo
Morpheus8 by Inmode
47 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-863-6564
Website: www.amanspa.ca

2. Altitude Athletic Training
56 Colborne Street
Toronto, ON
M5E 1E3
Tel: 416-366-3838
Website: www.altitudeathletictraining.com

3. Physioheath Studios
33 Victoria Street, #130
Toronto, ON
M5C 2A1
Tel: 416-368-2525
Website: www.physiohealth.com

Our Amenities

We are by far the most experienced and best coworking team in the market – established in 1980

  • We are the highest Tech centre in the market
  • We have a very modern, high quality, brand new facility located at:

   18 King Street East, Suite 1400

      Toronto, Ontario   M5C 1C4 Canada

    • 18 King Street East is a boutique Class A building – East of Yonge: easy street parking, less traffic, excellent restaurants and lovely parks – St. James Park @ Church & King and Berczy Park @ Wellington East, Scott and Front Streets – Very high energy and engaging area
    • A few steps (a few seconds) to the Yonge Street subway/underground PATH network and streetcar available outside building
    • Building is located in Toronto's vibrant financial district
    • Plenty of parking available in the area including street parking and reserved parking in the 18 King building 
    • Adjacent to the building huge outdoor food courtyard - Beer Bistro www.beerbistro.com and Craft Beer Market www.craftbeermamrket.ca restaurants and bars with onsite catering services
    • Onsite amenities:  Tim Horton's, Beer Bistro, Convenience store and Starbucks across the street 
    • Nearby amenities:  underground PATH network, numerous restaurants, banking, Starbucks plus a wide array of nearby shops and services 
    • New modernized office layout fully furnished with meeting spaces and training rooms plus café lounge area
    • We are leaders in the service of training/meeting rooms with full conference facilities, high quality hot and cold catering
    • Largest training room and conference facilities accommodate up to 60 people classroom style
    • Ultra-high-speed - 1 GIG pipe = 1,000 x 1000 fiber-optic network, which will deliver internet connection speeds faster than most North American services
    • Private shower room
    • Indoor Reserved Parking at the current building rental rate
    • Bicycle parking
    • Rent a space to accommodate your team for meetings, training sessions, corporate events or coworking space or flexible office space for one day, one week, one month or one year, or whatever term suits your business
    • Telsec has over 650 locations in 40 different countries worldwide available for their clients.  Office clients receive up to 8 hours of meeting space per month at no charge at any ABCN member location.  Plus, Office and Virtual Office clients may rent a space from any member location at special member rates which varies depending on the location 
    • King Edward Hotel is located across the street - recently completed a $40 million renovation and boutique hotels close by within walking distance
  • Dining and entertainment at high quality restaurants only minutes away – Carisma, Terroni, Woods Restaurant & Bar and Michelin Rated - Restaurant 20 Victoria. Plus numerous lunch and takeout eateries nearby

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Take a look at our facilities www.telsec.net    

Telsec will Customize Your Client’s Office(s) Layout to Meet Their Requirements

You are welcome to drop-in any-time, a quick call would be appreciated to ensure our availability Vanessa 416-574-1112 or Josie 416-606-4349 or e-mail josie@telsec.net.