Start-up Visa
Start-Up Visa: Embark on Your Entrepreneurial Journey to Canada
If you’re an entrepreneur with innovative business ideas, Canada’s Start-Up Visa Program offers an avenue for your immigration journey. This program aligns with the Canadian government’s objective to encourage talented and creative entrepreneurs to establish their businesses within the country’s borders. By doing so, the government aims to bolster the national economy and generate employment opportunities for local communities.
Navigating the Start-Up Visa Program
Canada’s Start-Up Visa Program is designed to facilitate the immigration of entrepreneurs seeking to launch new businesses in the country. Key requirements include showcasing the innovation of your business, its global competitiveness, and, importantly, its potential to create new employment opportunities for Canadian citizens.
Fulfilling the Requirements
To be eligible for the program, you must meet specific criteria:
Qualifying Business
- Possess a minimum of 10 percent of voting rights to the shares of the company.
- Maintain at least 50 percent of the voting rights to the shares, jointly with the designated organization.
- Secure a letter of support from a designated organization.
- Demonstrate investment support from an investor, such as a venture capital fund, business incubator, or angel investor.
- Showcase a unique and compelling pitch for your business proposal.
- Present a letter of support obtained post a successful pitch.
Language Proficiency
Demonstrate language proficiency by taking an approved agency’s language test. This is essential to prove your proficiency in either English or French, as per the Canadian Language Benchmark (CLB) 5, encompassing speaking, reading, listening, and writing skills.
Proof of Funds
Showcase your ability to financially support yourself and any dependents. The amount of funding demonstrated must correspond to the number of dependents.
Meeting Eligibility Requirements
Fulfillment of eligibility requirements includes presenting a Commitment Certificate and Letter of Support to establish support from a designated organization. This is a pivotal condition for the successful processing of your visa application. Notably, you are not required to invest your own funds in this business type.
Should you meet all eligibility criteria, securing funding is crucial:
- $75,000 from a Canadian venture capital fund.
- $200,000 from a recognized Canadian business incubator.
Application processing times may vary, but expect a period of approximately 12 to 16 months for document processing. It’s vital to ensure your application is complete before submission, as incomplete applications could face rejection.
For the application process:
- Complete the Generic Application Form for Canada.
- Validate the form and ensure all fields are accurately filled.
- Print the validated form, including the barcode page.
- Sign and date the form.
- Organize your documents according to the provided checklist.
- Place all documents in a sealed envelope with the checklist as the cover page.
- Pay application fees, encompassing processing, permanent residence, third-party, and biometric fees.
- Submit your application by mail, clearly indicating 'Start-Up Visa' on the envelope.
Schedule a meeting
Let’s discuss the details
Schedule a meeting at one of the offices or online. A lawyer will analyze the situation, calculate the cost and help you find a solution based on your goals.
- Preparation of documents
- Due Diligence
