Foreign Graduate Start-Up Visa Stream (FGSVS)
The Foreign Graduate Start Up Visa Stream or FGSVS helps foreign graduates to set up a business in Alberta. Further, these skilled graduates can apply for Canadian permanent residency. So, a foreign graduate who wishes to build a business in Alberta must apply for Canada PR through this stream. Also, the FGSVS is a program that is in collaboration with designated agencies from Alberta.
Besides, these agencies issue a recommendation letter to eligible applicants if the foreign graduate meets the AINP terms. Also, the applicant must submit this recommendation letter along with an EOI to the AINP.
Role of Alberta approved agencies for Foreign Graduate Start Up Visa Stream
- Help in the marketing of the FGSVS.
- Check whether a foreign graduate is ready and qualifies to do business in Alberta.
- Also, see if the applicant’s business plan is profitable to the province or not.
- Further, selects applicants for recommendation to the AINP.
- Finally, offer help to foreign graduates in setting up their start-up business in Alberta.
Who can apply to the Foreign Graduate Start Up Visa Stream?
To apply to the FGSVS you must meet the following terms:
- Minimum 6 months of full-time work experience
- Either in actively owning/managing a business or have work experience with a business incubator or accelerator.
- Have a degree from a post-secondary institution outside Canada.
- Also, submit an Educational Credential Assessment (ECA) report for the same.
- Besides, the ECA report must prove that the applicant’s education is on par with Canada’s education system.
Have a business plan that showcases the details of investment and revenue inflow.
Present a 10-minute presentation sharing key details about the business for potential investors.
Language Skill Level
- Have a minimum Language Skill Level 0f CLB (English)/NCLC (French) – 7.
- Language test results must not be more than 2 years old.
- Submit language test results for English/French. Test results can be for:
- Canadian English Language Proficiency Index Program (CELPIP) General Test
- International English Language Testing System (IELTS) General Training Test
- Test d’évaluation de français (TEF) Canada
- Test de connaissance du français (TCF) Canada
Either have a minimum of 34% business ownership if the business is in an urban centre or have a minimum of 51% ownership if the business is in a regional area but outside Calgary and Edmonton.
- Have a minimum $100,000 investment for a business in an urban centre, or
- Have a minimum of $50,000 investment for a business in a regional area.
- Besides investment before coming to Alberta can be:
- Personal equity – main applicant/spouse/common-law partner.
- Other sources such as recognised Canadian financial institutions, Angel investment firm, or venture capital.
Letter of Recommendation
Have a letter of recommendation from an AINP approved designated agency,
The foreign graduate must have enough funds to launch its business. And must be able to support itself in Alberta.
The FGSVS is open and is taking applications. To apply applicants must submit an Expression of Interest (EOI). An EOI is not a formal application but shows an interest of the applicant to apply to the stream. Besides, the program will assess the EOI profile and will give points as per the FGSVS – Points Grid.
Who can not apply to this stream?
An applicant can not apply to this stream under the Foreign Graduate Study Visa Stream (FGSVS) if you:
- Have 1 or more active nomination (not expired and or eligible for extension under another AINP stream).
- Because an applicant can have 1 active nomination only.
- Are not eligible to re-apply as per a previous letter issued by AINP. But if you apply, the application will be rejected by AINP.
- Have a removal order from IRCC or Canada Border Services Agency.
- Are a refugee claimant or are in a federal appeal or removal process.
- Do not have temporary resident status. And are living or working in Canada.
- Have a business that falls under the AINP ineligible businesses list.