Alberta foreign graduate startup visa stream (FGSVS) is that opportunity for you to immigrate and work in Canada. To work in the province you must meet their requirements.
Alberta which is one of the wealthiest provinces of Canada has never been open in accepting immigrants, however, in recent times they have started considering entrepreneurs to enter the province to work. The process to apply For Alberta foreign graduate startup visa stream is a bit confusing so in this article, we will discuss the following topics: eligibility requirements, minimum settlement funds, point system, ineligibility, and the process involved.
Eligibility Requirements: For Alberta foreign graduate startup visa stream you must meet the following requirements before applying for the foreign graduate startup visa stream:
- Education Requirements: Applicants must have completed a post-secondary degree outside the country within the past two years.
- Educational Credentials Assessment (ECA): Applicants must have an educational credential assessment report that attests to their education.
- Work Experience: Applicants must have worked as a full-time business owner or senior manager for at least six months.
- Knowledge Of English Or French: At least CLB7. This requirement is the same as the requirement needed for express entry.
- Business Plan: Applicants must submit a business plan that also includes financial projections.
- Pitch Deck Requirement: A slideshow that pitches the plan. Applicants must only present a slideshow presentation that would last for 10 minutes.
- Business Ownership Requirement: Owning at least 34% of the Canadian business in urban areas is necessary. However, the ownership requirement tends to increase up to 51% if the company is outside Calgary’s Census Metropolitan Area (CMA) or Edmonton’s Census Metropolitan Area (CMA).
- Investment Requirement: Applicants must invest a minimum of $100,000. Investment in regional areas must be at least $50,000. Moreover, if you are married or in a common-law relationship then you and your spouse can invest collectively.
- Recommendation Letter: You must get a recommendation letter from a designated agency. You may seek help from a professional for the entire process.
Settlement Funds: The province expects minimum settlement funds from candidates applying For Alberta foreign graduate startup visa stream. If you fail to meet the minimum requirement you will not be eligible to apply.
Point System: It is important to get a high score when you submit an expression of interest.
Process For Alberta foreign graduate startup visa stream: Let us review the process and requirement that can help you become a successful candidate:
- If you fail at any step then you would not become a permanent resident under this program.
- Make sure you meeting all the requirements
- Make sure you get a recommendation letter from a designated agency
- Submit an expression of interest (EOI). Alberta immigrant nominee program will review your application within a month and if you are eligible then you will receive some points and enter an expression of interest (EOI) pool.
- Make sure to submit the business package after receiving a request of submitting a business application. However, if you fail to receive the request in a year then you will no longer be an expression of interest pool.
During the process, a Qualified Service Provider (QSP) must review your financials. After receiving approval from Alberta immigrant nominee program (AINP) you must sign the business performance agreement document. You will then receive a letter to apply for a work permit. After receiving your work permit, you will be allowed to start your business in Canada, then you will have to submit the final report for Alberta immigrant nominee program (ANIP) nomination if you manage to fulfill your promises. After receiving the approval of the final report you may apply for permanent residence. If you successfully fulfill all the requirements mentioned above you will become a permanent resident of Canada.