Canada Startup Visa
The Canadian Startup Visa Program is for entrepreneurs with innovative ideas who will spur economic growth. This program requires a start-up business investment and grants permanent residency in Canada and Canadian citizenship after 3 years.
Canada Startup Visa Benefits
Residency and Family Inclusion
- Permanent residence for successful applicants.
- Dual citizenship is permitted.
Dependents included:
- Spouse or common law partner.
- Children under 22 years old who do not have a spouse or a common law partner.
Travel and Quality of Life
- Ability to live, work and study upon approval.
- Access to high quality subsidized education upon approval.
- Access to advanced health and welfare systems upon approval.
Ease of Access
- No age limit.
- Possibility to apply for Canadian citizenship after 3 years of permanent residence.
Canada Startup Visa Requirements
- The applicant must demonstrate that they are innovative immigrant entrepreneurs who will spur economic growth by obtaining a commitment certificate from a designated organization in order to qualify for the Canada start-up visa.
- The applicant must hold at least 10% of the voting shares in the business, and together with the designated organization more than 50% of the voting shares.
- The applicant must operate and manage the business venture once set up from within Canada.
- The applicant must meet a minimum of level 5 in the Canadian Language Benchmark Test in English or French, in speaking, reading, listening, and writing.
- The applicant must show that he has enough funds to support herself and any dependents after they arrive in Canada.
- The applicant and family members must be in good health and have no criminal record.
Canada Startup VisaInvestment options
Business Incubator
Obtain a commitment certificate which confirms the applicant’s business is currently participating in or has been accepted into its business incubator program.
Angel Investor Group
Obtain a commitment certificate which confirms the Angel Investor Group is investing at least CAD 75,000 in the applicant’s business.
Venture Capital Fund
Obtain a commitment certificate which confirms the Venture Capital is investing at least CAD 200,000 in the applicant’s business.
Canada Startup Visa Process
Canada startup visa processing time : 40 Months
Due Diligence And Application
- Appointment of an authorized representative to submit the application.
- Provide proof of language proficiency, and other personal documentation.
- Obtain commitment certificate from angel investor group, venture capital fund or business incubator.
Approval And Investment
- Submission of application form, supporting documents and fees.
- Published processing time for permanent residence applications submitted under this category is 39 months.
Residency
Successful applicants will immediately receive permanent residence status in Canada.
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Frequently Asked Questions
What is the Startup Visa Canada Program?
The Canada Start-up Visa Program grants permanent residence to entrepreneurs who start an innovative business in Canada with support from a designated entity. A qualifying business must be owned jointly by the applicant and the designated organization with the applicant holding at least 10% of the voting rights.
Who qualifies as a dependent in the Canada Startup Visa application?
Dependents eligible for the Canada Startup Visa include the applicant’s spouse and children under 22 years old who are not married or in a common-law relationship.
What benefits does permanent residence status offer in Canada?
Permanent residents in Canada can live, work, and study anywhere in Canada, access social benefits including healthcare, apply for citizenship under qualifying conditions, and are protected by Canadian law and the Canadian Charter of Rights and Freedoms.
What are the typical application processing steps for the Business Incubator Stream?
The Business Incubator Stream involves a due diligence assessment by the incubator, confirmation of intent from the applicant, submission of work permit and permanent residence applications, and eventual permanent residence upon approval.
What is the average processing time for applications?
The typical processing time for a work permit under the SUV program is 8-12 weeks, and the processing for permanent residence takes about 37 months.
Is it necessary to travel or reside in Canada during the Startup Visa application process?
Active and ongoing management from within Canada is required for the SUV program, though no specific residence duration is mandated.
Is proof of the source of funds required for settlement or business investment under the Startup Visa?
Applicants need to prove they have sufficient settlement funds for the Canada Start-up Visa Program, but do not need to disclose the source of these funds.