Immigrate With A Start-Up Visa: About The Process

The Canadian government started this 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. In return, Canada banks on these businesses to grow, add value to the overall economy and create more jobs for Canadians.

 

The start-up visa process and application are more likely to be done fast-tracked. Their goal is to approve successful applicants within weeks. The Canadian Entrepreneur Visa provides permanent resident status, leading to citizenship.

 

Start-Up Visa Programme

 

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 the 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.

 

In this process, they provide up to five founders or core team members with a permanent residency, provided that they meet the criteria established. This is under the program and IRCC’s standard requirements for immigration.

 

Start-Up Visa

 

1. A designated Investor should support the applicant's business

 

The applicant must get a letter of support from one of the designated investor organizations. The letter needs to state that they are going to fund their idea.

 

2. Language Requirements and criteria

 

One must have to be able to communicate and work in English, French, or both. They need to provide Immigration, Refugees, and Citizenship Canada (IRCC) with proof of language proficiency. This means that they must take a language test from an IRCC approved agency and meet the minimum language requirements.

 

3. Prove that their business meets the guidelines

 

A single business may have a maximum of five owners when they apply for the program. Each applicant must hold at least 10% of the voting rights in the company. The designated investment organization and the applicants must together own more than 50% of the voting rights in the business.

 

4. Sufficient funds to reside in Canada 

 

The applicant needs to prove to the Canadian government that they have enough funds to support themselves in Canada. The government does not provide any financial support for entrepreneurial immigrants.

 

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. Keep in mind that the investor organization 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.

 

Once the applicant submits their idea and convinces one of the designated incubators, angel investor groups, or venture capital funds to support your business, they will send you 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 organization and the candidate.

 

Once the applicants receive the letter from your investor or investors, they are ready to apply for Startup Visa.

 

The minimum amount one must secure for your 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, that’s right, zero, if your business is accepted in a business incubator program in Canada.

 

2. Proof of Meeting the Minimum Language Requirement

 

One must be able to communicate and work in English, French, or both. This means that you must take a language test from an IRCC approved agency and meet:

 

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

 

3. Proof of Meeting the Education Requirement

 

One needs to have completed one year of study at a postsecondary institution. And also need to provide transcripts, a letter of good standing, diplomas, degrees, or certificates to show that they fulfil this requirement.

 

4. 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 you bring in as many funds as possible when you move to Canada.

 

5. Proof of Security and Medical Clearances

 

Applicants need to undergo a security clearance and a medical examination.

 

Application 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. 

 

Procedure or phases:

 

1. Draft a Business Plan

 

One needs to provide a detailed CV for preliminary qualification and the other initial required documents.

 

2. Letter of Support 

 

At this stage, one needs to have completed the business plan and submitted it to a designated investment organization. As discussed above, this organization can either be one of the designated angel investor groups, business incubators, or a designated venture capital fund.

 

3. Permanent Resident Application 

 

In the final stage, one can apply for a Permanent Residency. Investment letters and other necessary documents are also important. The state department assesses the submission and then accepts or rejects your request.

 

Required Documents for the Visa Process

 

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 your 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

 

All documents must be legally translated to English or French and certified or apostilled from the corresponding country. The immigration office may request additional records if they seek further information.