The Start-up Visa Canada program allows you to move to Canada if you are an entrepreneur with innovative business planning. Canada is searching for excellent entrepreneurs who want to grow enterprises to help its economy grow while also providing jobs for its citizens.
Read the article to learn everything you need to know about the start-up visa Canada requirements program, including how to apply.
Start-up Visa for Canada is a program that offers Canadian permanent residence to certified immigrant entrepreneurs. Furthermore, it is commonly known as the Business Start-Up visa. Mainly this Program selects creative entrepreneurs and connects them with private sector investors in Canada. So, these private sectors will assist the individuals in establishing their startup business.
In addition, investors help candidates to get work permits. Furthermore, these investors help candidates before they qualify for permanent residence and once their work permit is up and running.
Furthermore, there are three kinds of private-sector investors:
- Angel investor
- Venture capital fund
- Business incubator
What Are The Eligibility Requirements For Start-up Visa Canada 2022?
The basic requirements for a start-up visa in Canada are:
- Innovative Business Ideas
- Commitment Certificate and Letter of Support from a designated entity.
- Sufficient financial and funding amounts
- Proficiency in English language test or IELTS ( you need to score a minimum of 6)
- Proficiency in the French language (if required)
Advantages Of Start-Up Visa For Canada
Before proceeding, you must know the benefits and disadvantages of this Program. In addition, it’s critical to thoroughly know what this Program offers and whether it’s the best fit for you.
Learn about the Start-up Visa Canada program from company immigration lawyers. Furthermore, the benefits of the Program are as follows:
- PR eligibility
- You can get a chance to apply for Family Visa
- Direct entry into Canada as a permanent resident
- All nationalities are welcome.
- In Canada, there are no restrictions on corporate activity.
- There is no criteria or proof of net worth.
- Allows for a five-person collaboration in the same Startup (each partner must own at least 10% of the company).
- You can relocate to Canada by getting a work permit during your visa process.
Note: Family visa only offers visa facilities for husband, wife and kids. Besides, this facility is not eligible for parents or other siblings.
What Are the Startup Visa Canada Ownership Requirements?
For the individuals eligible for permanent residence in Canada :
- The intended business must be incorporated and carried on business in Canada.
- The individuals must receive at least 10 percent of the voting rights in the corporation.
Furthermore, no one is allowed to hold 50 percent or more of the voting rights in the corporation. So, let’s discuss the above points in detail:
- Have a Business That Qualifies:
You must own at least 10% of the voting rights tied to all of the company’s shares.
You and the designated organisation must own at least 50% of the voting rights linked to all of the company’s shares. Furthermore, a letter of support from a designated organisation is required:
Moreover, you must propose your company idea to the organisation and persuade them that it is worthwhile to support. Each organisation will have its approach to pitching your company idea.
If your pitch is successful, the organisation will provide you with a letter of support, which you must include with your Startup.
Visa application.
- Comply With The Following Language Requirements:
You must pass a language exam administered by an accredited organisation and show that you can speak, read, listen, and write at the Canadian Language Benchmark 6 or 6.5 level in English or French.
- Evidence Of Funds:
You must show that you have enough financial support when you arrive in Canada. Furthermore, the amount you’ll need is determined by the size of your family.
NOTE: Maximum of five people may have their permanent residence application supported by the same business investment. Other than that, few individuals may be designated essential to the business. Besides, if any essential person quits their application or is rejected, all other individuals under the same business investment will see their applications brought to a close.
How Do Individuals Qualify For A Work Permit?
- To be eligible for a start-up visa Canada:
People with a Commitment Letter from a designated entity can apply for a short-term work permit to begin working in the business. The designated entity must support the request.
- To qualify for permanent residence:
Candidates must be actively involved in the management of the business in Canada.
The operations of the business, or an essential part, must take place in Canada.
Success Rate For Startup Visas In Canada
You will be able to expand your business in Canada if your SUV application is in the right hands, all regulations are met, and all relevant evidence is delivered. According to the IRCC, the SUV (Start-up visa program) has a success rate of more than 75%.
Depending on the type of designated organisation, the approval rate varies. Moreover, startups backed by business incubators have a success rate of 78 percent. 80% for startups backed by angel investor networks. The percentage of startups sponsored by venture capital funds is 43 percent.
Why Should You Choose Canada Prime Immigration?
Canada Prime Immigration(CPI) is one of the leading Startup Visa providers. Our team provides you with the best facilities to work abroad and to apply for start-up visa Canada. In addition, by investing your time with our company, you can quickly solve all of your queries related to Startup Visa Canada.
By choosing us, you will make your dream come true.
About Us
Here is the short bio of Canada Prime Immigration:
FAHAD KHAN is a visionary entrepreneur, philanthropist and business strategist who is the founder and CEO of Canada Prime Immigration and Marketing. It is one of Canada’s Fastest-Growing Companies and Canada’s top growing company. Moreover, his organisation had the privilege of partnering and serving FORTUNE 500 and FORBES 2000 companies. Furthermore, he is guiding millions of people to reach their unstoppable potential. Our executive team members are Fahad Khan, Vishal and Pedro.
Our Services
Below is the list of some primary services we provide you for start-up visa Canada:
- Our team helps you in developing an innovative business plan. In addition, our coaching classes help the candidates clarify the vision of their startup business and how it fits in with their personal goals.
- We help you in connecting with the Canadian authorised incubation.
- Filing visa for immigration
- Creation of business
- Training and support with incubation
- Creation of bank accounts
- Helps you with legal fees processing
- Shareholder
You can get start up visa plan as per your business plans as you have calculated the best days between dates for some important meetings with clients.
Our Procedure And Agreements Services
For applying for start-up visa Canada you will need to deposit 2500$, then your training process (business creation) proceeds for three months. Moreover, we will find different partners during this period and further refine the work permit process.
Afterwards, the profile creation of the clients takes place, and then the interview preparation will begin. At first, incubation interview sessions will start, and this training period will continue for (4-8 weeks).
Note: 50% of the payment will be taken at this stage.
Afterwards, all your financial issues will be noticed, and then a letter of support will be created by our organisation. (Rest of the 50% of the payment will be received at this stage).
When the letter of support is created the process of submission of the application starts. Afterwards, all the procedures of visa application (12-15 weeks) take place. Then you have to apply to Canada, your PR process (15-16 months) takes place and citizenship (3 years) will be granted to you.