Foreign Graduate Start-Up Visa Stream now one of 3 entrepreneur immigration options available in Alberta.
A new immigration pathway for qualified international graduates from outside Canada is now open to Expressions of Interest from eligible candidates.
The Foreign Graduate Start-up Visa Stream was launched on January 27, 2021, and the Alberta Immigrant Nominee Program (AINP) is accepting applications, a spokesperson for Alberta’s Minister of Labour and Immigration confirmed in an email to CIC News.
In order to be eligible for the Foreign Graduate Start-Up Visa Stream (FGSVS), candidates must have graduated from a post-secondary institution outside of Canada within the last 2 years and have an educational credential equivalent to a Canadian degree.
Among other criteria candidates must also have:
• a minimum of 6 months of full-time work experience in the management or ownership of a business or work experience with a business incubator or business accelerator;
• a business plan with financial forecasts;
• a 10-minute presentation of the proposed business, focusing on what investors would like to see;
• a minimum CLB level of 7 for each skill in English or CLB of 7 for each skill in French;
• the ability to show a minimum of 34% ownership if their business is located in an urban centre or 51% if located in a regional area outside of Alberta’s two major cities, Calgary and Edmonton;
• a minimum level of investment from the applicant’s own equity, a recognized Canadian financial institution, venture capital or angel investment company before coming to Alberta.
• a letter of recommendation from an AINP-approved designated agency;
• the ability to demonstrate that they have the funds needed to set up their business and support themselves while launching their start-up.
Submitting an EOI
An Expression of Interest (EOI) is not an application but rather a means for interested candidates to let the AINP know that they wish to be considered for a provincial nomination for permanent residence under a given immigration stream.
In addition to the new stream launched over the past days, the AINP offers two other streams for entrepreneurs interested in buying or starting a business in Alberta :
• the Alberta Self-Employed Farmer Stream, targeting applicants with farm management skills and enough financial resources to invest in a farming business in Alberta;
• the International Graduate Entrepreneur Immigration Stream for recent international student graduates from Alberta post-secondaries.
The province also operates the Alberta Opportunity Stream and the Alberta Express Entry Stream for qualifying skilled workers and international graduates.
