Canada Start Up Visa Program
Canada is now accepting applications from the brightest entrepreneurs from all over the world. This is a great opportunity for new immigrants to migrate to Canada, while the country benefits from bringing in new and innovative companies along with the brightest minds. The Canada Start Up Visa program is designed to fast-track permanent residence for international entrepreneurs who are able to secure funding with investors that have been designated to do so. This is to build businesses that are:
- innovative
- can create jobs for Canadians
- can compete on a global scale
Average Processing Time: 16 – 31 months
Applicants for this immigration stream must satisfy the following requirements. You must:
- Have a qualifying business
- Get a letter of support from a designated organization
- Demonstrate intermediate knowledge in English, French, or both languages. (Meet the CLB Benchmarks)
- Have sufficient funds settlement funds
What Is A Start Up Visa Program Designated Entity?
How Much Money Is Required for Canada Startup Visa?
Step 3
The required commitment must meet the following criteria:
- A designated angel investor group must invest at least $75,000 into the qualifying business. Candidates can also qualify with two or more investments from angel investor groups totalling $75,000.
- A designated venture capital fund must confirm that it is investing at least $200,000 into the qualifying business. Candidates can also qualify with two or more commitments from designated venture capital funds totaling $200,000.
- A designated business incubator must accept the applicant into its business incubator program.
Benefits of the Canada Start-Up Visa Program
The Canada Start-Up Visa Program offers several advantages for entrepreneurs:
Benefits for Canada
Economic Growth: Start-up businesses create jobs and contribute to economic development.
Innovation and Competitiveness: The program attracts talented entrepreneurs with innovative ideas, enhancing Canada’s global competitiveness.
Knowledge Transfer: Immigrant entrepreneurs bring diverse perspectives and expertise, enriching the Canadian business landscape.
Benefits for the Entrepreneur
Direct Path to Permanent Residency: Successful applicants can obtain permanent residency for themselves and their families.
Access to a Supportive Business Environment: Canada offers a favorable business climate, with access to funding, research facilities, and a skilled workforce.
Opportunity to Build a Business in a Growing Economy: Canada’s strong economy provides a fertile ground for startups to thrive.
High Quality of Life: Canada consistently ranks high in quality of life indices, offering a safe and welcoming environment for entrepreneurs and their families.
Potential for Business Growth: The program connects entrepreneurs with experienced investors and mentors, increasing the chances of business success.
Why Seeking Professional Immigration Help is Essential
Since 2018, the Start-Up Visa program has become permanent. The Canadian government will only process a maximum of 2750 start-up visas per year for start-up entrepreneurs and their families. If the demand for this program is high enough and is successful, the Canadian government may make this permanent. Until that happens, if you think you are the right candidate for this Canadian business visa, then your best chances for success will come from partnering with an experienced immigration professional who can make sure you put the best case forward on your application.
Why Hire Us To Help With Your Start-Up Visa Application?
While the procedures for applying for a Start-Up Visa may seem uncomplicated, some applicants apply without seeking any help from an immigration consultant, thinking that they can “do it themselves.” For Start-Up Visas, there is a higher risk of refusal in cases where the application is not properly prepared. The standards are very high. We have helped thousands of entrepreneurs to immigrate to Canada, and we can help you too.