The Canadian government started the Start-up Visa Program to attract entrepreneurs worldwide. Individuals who Immigrate with a start-up visa will be given funding and the support needed to thrive in their businesses.
Canada Immigration Consultant can help get the application approved within weeks. The Canadian Start-Up Visa provides permanent resident status, leading to citizenship. Moreover, the start-up visa process and application are more likely to be done fast-tracked.
Basic requirements for Canada Start-up Visa
1. Qualifying business
2. Commitment Certificate and Letter of Support from a designated entity
3. Sufficient unencumbered, available and transferable settlement funds
4. Proficiency in English or French at minimum Canadian Language Benchmark level 5
Eligibility criteria for Canada Start-up Visa
1.Proof of Support by a Designated Investment Organization
If an individual is interested in immigrating to Canada through the Entrepreneur Start-up Visa program, the first step is to find a Canadian angel investor group.
If not, a business incubator or venture capital fund to back you up. At least one of these entities must be willing to invest in your new start-up. Remember that the investor organisation must be a designated angel investor group, a qualified business incubator program, or a designated venture capital by the Canadian government to participate in the Entrepreneur Start-up Visa program.
How can I qualify for the Start-up Visa Program?
Once the applicant submits their idea and convinces one of the designated incubators, angel investor groups, or venture capital funds to support their business, they will send them a letter of support. They also provide the IRCC with a completed Commitment Certificate. The certificate lays out the details of the agreement and commitment between the designated organisation and the candidate.
Once the applicants receive the letter from their investor or investors, they are ready to apply for the Canadian Start-Up Visa Program.
2. The minimum amount one must secure for their business is
1.200,000 CAD if the investment is from a Canadian VC,
2.75,000 CAD if the investment is from an angel investor,
3.0 CAD is correct, zero if the business is accepted in a business incubator program in Canada.
3. Proof of Meeting the Minimum Language Requirement
One must be able to communicate and work in English, French, or both. This means that they must take a language test from an IRCC-approved agency and meet the following:
1. Canadian Language Benchmark (CLB) 5 in speaking and listening and 4 in reading and writing in English
2. Niveaux de Compétence Linguistique Canadiens (NCLC) 5 in speaking and listening and 4 in reading and writing in French
4. Proof of Meeting the Education Requirement
One needs to have completed one year of study at a postsecondary institution. Moreover, they must provide transcripts, a letter of good standing, diplomas, degrees, or certificates to show that they fulfil this requirement.
5. Proof of Sufficient Settlement Funds
One must have sufficient funds to support. The amount depends on family size. Although these are the minimum required funds, it is recommended that they bring in as many funds as possible when they move to Canada.
6. Proof of Security and Medical Clearances
Applicants need to undergo a security clearance and a medical examination.
Preparing Application Start-Up Visa (SUV)
The first part of the application is an initial assessment and validation of the potential applicants to the SUV program. Please note a small fee for this initial service to cover administration costs. This is not a promise that the application to the Start-up Visa Program will be successful.
Canada Immigration Today welcomes innovative business ventures and invites entrepreneurs from other countries to benefit from the strong Canadian economy.
The Start-up Visa (SUV) program launched by Immigration, Refugees and Citizenship Canada (IRCC) targets foreign start-ups. They have the potential to build innovative businesses within Canada that further innovate its entrepreneurial ecosystem.
The process is intended to allow for the expedited migration of foreign-owned businesses looking to operate in Canada. Applicants should consult a good Canada Immigration Consultant for an easy process.
If the applicant meets all the above eligibility requirements, they can apply for Permanent Residency. The processing time takes between 12 to 18 months.
Draft a Business Plan
One needs to provide a detailed CV for preliminary qualification and the other initial required documents.
Letter of Support
At this stage, one must complete the business plan and submit it to a designated investment organisation. As discussed above, this organisation can either be one of the designated angel investor groups, business incubators, or a designated venture capital fund.
Required Documents for the Visa Process:
Here are the basic requirements for The Start-Up Visa Program for applicants willing to apply to Canada.
1. Detailed Resume (CV) of the candidate
2. Draft Business Proposal8.
3. Copy of Passport or Legal Travel Document
4. Birth Certificate
5. Marriage Certificate (if married)
6. Police Clearance Record from the country of origin and residence
7. Proof of Funds: a recent Bank Statement covering at least six months Bank Reference Letter
8. Language Test Results, IELTS CLB Level 5 or NCLC Level 5
9. Medical Examination Confirmation from a certified health institution
10. Letter of Support from a designated entity in Canada
Canada Immigration Today allows candidates to initially come to Canada on a work permit supported by their designated Canada-based investor. Before qualifying for permanent residence, this can be done once their business is up and running.
Admissibility requirements to enter Canada :
To be eligible for Canada, one must meet the admissibility requirements to enter Canada. These apply to all Start-up Visa Program applicants.
A person may not be able to enter or remain in Canada if the CIC, CBSA officer or ID of IRB determines that they have the following issues:
They have engaged in, or there are reasonable grounds to believe they will engage in, spying, subversion or terrorism, or they belong to organisations that have engaged in, or will engage in, these activities.
Human or international rights violations
They have committed war crimes or crimes against humanity. They are senior members or officials of a government that has committed acts of terrorism, major human rights violations, genocide, war crimes or crimes against humanity.
They have, or there are reasonable grounds to believe they have, committed a crime punishable by ten years of incarceration.
They have committed an indictable crime, or there are reasonable grounds to believe they have. They achieve an offence such as possessing or importing narcotics while seeking entry to Canada.
They belong to an organisation believed to participate in organised criminal activity or engage in transnational crimes such as smuggling, trafficking in people, or money laundering.
They may harm public health or cause excessive demands on Canada's health or social services.
They are unable or unwilling to support themselves and their dependents.
They provide officers with false information or withhold information directly relevant to a decision under the Immigration and Refugee Protection Act (IRPA).
They contradict the requirements of IRPA. Some examples include the following:
1. Not having a valid passport or visa
2. Entering as visitors and remaining longer than authorised
3. Trying to re-enter without the written permission of the Minister of Citizenship and Immigration after being deported
4. Working or attending school without the appropriate permit
5. Breaching conditions imposed when they were first admitted to Canada.
There is nothing traditional about start-ups: they can be born with a spark and no experience, built by one computer, grow with little money (= bootstrapping), and scale in no time. But high potential comes with high risk: 90% of start-ups fail.
The Canadian Start-up Visa Program (SUVP) is reasonably flexible as it requires no minimum education, minimum net worth, prior business experience, age limit, a modest amount of settlement funds, a simple business structure, and language proficiency of a Canadian Language Benchmark 5.
However, the rigour of assessing the quality and growth potential of the applicant’s start-up is outsourced to the private sector, dubbed Designated Organizations (DO), that will attest to the adequacy of the start-up by granting them a Letter of Support (LOS): the only other requirement for applying for Permanent Residency under the SUV.