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What are my options to stay in Canada if my startup fails?

I obtained my start-up visa about 10 months ago. Due to the impact of the coronavirus outbreak, my business is struggling. I am afraid I will have to file for bankruptcy. What are my options to keep staying in Canada?

  • JTH Lawyers Inc.
    April 24, 2020

    It seems like you don't have to worry: If you obtained your permanent residence visas in Canada through the start-up visa program, you would not lose your status if your business goes bankrupt. Indeed, the permanent resident visas you obtained legitimately are irrevocable. Canada knows all business projects would be a hit, the importance is that you are likely to start another business later, which is why Canada decided to make such visas irrevocable/not tied to the success of the first business you do.