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Canada Startup Visa

Canada consists of ten provinces and three territories. Most parts of the country have a cold or severely cold winter climate, but areas to the south are warm in summer. Much of the land contains forests or tundra, with the Rocky Mountains towards the west. Canada operates under a mixed economy, and thrives due to its abundance of natural resources and trading networks. The country trades extensively with the United States and has established numerous international trading routes to boost its economy.

Canada is still considered as the most attractive country for migration. There are several provincial programs that provide an opportunity for individuals to choose Canada as their home. However, these programs require certain qualification in order to be qualified as an applicant.

Canada Start-up Visa Program is a new Canadian immigration pilot project and a Federal immigration program that was launched in 2018. The program is for entrepreneurs who want to start a unique business in Canada. Successful applicants under this new Canadian immigration program will be granted their Canadian permanent residency.

View the detailed leaflet for Canada Startup Visa.

Eligibility Requirements for the Canadian Immigration Start-Up Visa

  1. Letter of Support and Commitment Certificate
    Applicants must have received a letter of support from a designated investor organization. In order to receive a letter of support, the applicant must convince a designated venture capital fund or angel investor group to invest in his or her proposed business.  The investor organization will also have to provide a Commitment Certificate directly to Citizenship and Immigration Canada, summarizing the details of the commitment made with the applicant.
  2. Investment Requirement
    Applicants must secure an investment from a designated venture capital fund, angel investor or a business incubator. Applicants are not required to invest any of their own money for this Canadian immigration program.
  3. Language Requirement
    The applicant must be able to communicate and work in English or French. Applicants must provide language test results from an approved agency and must meet the minimum level of CLB 5 (IELTS 5).
  4. Education Requirement
    Although it is not a mandatory requirement, but it is highly advisable for applicants to provide an educational background to support their proposed business.
  5. Sufficient Settlement Funds
    The applicant must have sufficient settlements funds to support themselves and their family once they immigrate to Canada. The amount of money required depends on the number of family members that will be accompanying the applicant. Average funds required for a family of 4 is CAD$24,000 in a year.
  6. Security and Medical Clearances
    As with all Canadian immigration programs, the applicant and accompanying family members must undergo a security clearance and a medical examination.

 

Additional costs:

  • Application fees: –
    • Main Applicant: CAD$ 1,540
    • Spouse: CAD$ 1,040
    • Dependent child: CAD$ 150
  • Permanent Residency Card: CAD$ 50 per applicant
  • Business Consultancy fees: This is associated to the assistance in drafting the business plan. To be discussed.
  • Legal fees: To be paid after the issuance of letter of support and while submitting request for Permanent Residency.

Note: Fees might vary due to changes by Government of Canada.

Application Processing

If the applicant meets the eligibility requirements, they can apply for Permanent Residency through Start-up Visa program. The duration of processing Canada PR is up to 12 months. The PR is unconditional and the applicant along with the family can move to Canada and initiate the proposed business.

Phase 1 – Draft of Innovative Business (1 – 2 months):

  • Detailed CV provided for preliminary qualification.
  • Signing of agreement for assistance in drafting a business plan.
  • The applicant provides the initial required documents.

Phase 2 – Issuance of Letter of Support (6 – 10 months):

  • Completion of the business plan with an innovative idea.
  • Submission of the plan to business incubator, angel investor or venture capital.
  • Issuance of Letter of Support from any one of the designated organizations.

Phase 3 – Submission of the PR application ( 8 – 12 months)

  • Submission of the Permanent Residency application along with the Letter of Support and other required documents.
  • Issuance of Canada’s unconditional Permanent Residency.

Documents required for Drafting Innovative Business Plan – Main Applicant:

  • Detailed Resume (CV).
  • Draft business proposal.
  • Police Clearance Certificate (from the country of origin & residence).
  • Proof of fund (3-month Bank statement).
  • Language Test result (IELTS – CLB level 5).

Note: Documents provided must be Certified and in English (or legally translated).

Documents required for Permanent Residency Application – All Applicants:

  • Passport Copy.
  • Birth Certificate.
  • Marriage Certificate (if applicable).
  • Police Clearance Certificate (For applicants aged 18 and above. It is required from country of origin and any country lived for more than 6 months after the age of 18).
  • Language Test result (IELTS – CLB 5).
  • Medical Examination Confirmation.
  • Letter of Support from designated organization.
  • Proof of fund:
    • 6 months bank statement.
    • Bank Reference letter confirming availability of the account.

 Note: Documents provided must be Certified and in English (or legal translated). More documents may be requested as per the immigration office’s discretion.

 

WHY CHOOSE CANADA START-UP VISA?

  • Direct Permanent Residency for the main applicant and family.
  • Residency for spouse & dependent children up to the age of 22.
  • Low-band IELTS (English test) requirement.
  • Federal program. Ability to live in any province of Canada without any restriction.
  • Ability to apply for Citizenship after 3 years of living in Canada.
  • To operate a successful business that has been supported by venture capital or business incubators.
  • Best education and healthcare plan for the entire family.

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