Startup Visa Canada for Entrepreneurs
The Startup Visa Canada Program provides a chance for entrepreneurs with innovative business ideas that are competitive on a global scale and can create employment for Canadians to immigrate to Canada under the Startup Visa Program.
As a business-based program, it allows either one or a group of up to five entrepreneurs working on the same project to immigrate to Canada as Permanent Residents.
What Are The Requirements For Startup Visa Canada?
To be eligible for the Startup Visa Canada Program, one must meet the following minimum requirements:
- Provide a letter confirming that your business has backing from a Canadian Investor/ designated organization
- Secure the minimum required investment from the designated organization/investor
- Venture capital fund – minimum $CAN 200,000
- Angel investor – minimum $CAN 75,000
- Business incubator – no minimum investment requirement
- Have a minimum level of CLB (Canadian Language Benchmark) 5 in language skills, i.e., speaking, listening, writing, and reading (either French or English).
- Prove that you are capable of financially supporting yourself and your dependants once you’re in Canada
- Have a qualifying business
- Meet the admissibility requirements
If you plan to live in Quebec province, check Quebec’s Immigration Requirements as they assess their business immigration programs.
How To Apply For The Startup Visa in Canada
Check Your Eligibility For The Startup Visa Canada
The Startup Visa Program has a business, investment, financial, and other requirements that all applicants must meet. Make sure you meet all of the requirements before you begin your application. This will save both time and money.
Get the Application Package
If you’re eligible for a startup Visa, get the application package and fill out the necessary information. The package comes with an instruction manual and a document checklist to help you complete the forms as required. Once you fill out the required forms, print them out, sign them as stated and attach all the documents as per the document checklist.
Pay Your Application Fee
There are payments that you’re required to make, including the right of permanent residence fee, biometrics fee, and processing fee. Pay the fees through the provided online payment methods. Make sure it’s the exact amount required by IRCC and attach a copy of the receipt as proof of payment.
Submit Your Application For Startup Visa Canada
Review your application to ensure that you’ve filled all the necessary parts and provided signatures where stated. Make sure all the supporting documents are attached to your application. If everything is in order, send your complete application package to IRCC through the address provided on the instruction guide.
Provide Additional Information
During processing, IRCC will request you to provide your biometrics. They might also ask for medical exams and police certificates as per your case.
Startup Visa Canada Processing Time
Applications for startup visas are processed within 12-16 months. As you wait for your application to be processed, you can acquire a temporary work permit and work in Canada.
Startup Visa Checklist
- Make sure you secure an investment from a designated investor and that you meet all the other requirements
- Complete your forms as required and submit them through the correct channels
- Ensure that you attach all supporting documents, including proof of investment from approved investors/organizations
- Make all payments early to avoid delays or rejection
Startup Visa Canada Cost
Here are the main fees that you’re required to pay when applying for permanent residence under startup visa:
|Right of permanent residence fee||490|
There may be extra fees if you’re bringing your family along. Contact Canadian Immigration Experts to learn more.
How We Can Help
At Jane Katkova & Associates – Canadian Immigration, Global Mobility Experts, we are dedicated to providing you with a successful outcome when you’re looking to migrate into Canada as an entrepreneur. With our years of experience, we have acquired what it takes to navigate the intricate IRCC system.
Let us help you bring your business into Canada by assisting you in your whole application process. Our partnership with experts in the business industry and financial sectors enables us to provide entrepreneurs with the best strategies to successfully gain startup Visas.
Contact our immigration consultants to learn more about Startup Visa Canada and how we can help you through your application process.
FAQs about Start-up Visa program in Canada