Eight Things to Know About Canada’s Start-Up Visa Program
- What Is Canada’s Start-Up Visa Program? Canada’s Start-Up Visa Program offers Canadian permanent residence to qualified immigrant entrepreneurs. ...
- What Are the Candidate Eligibility Requirements? The basic candidate eligibility requirements for the Start-Up Visa are: Qualifying business. ...
- What Is A Start-Up Visa Program Designated Entity? ...
What is the Canadian Startup Visa?
What are the Main Advantages of Canada’s Startup Visa?
- Permanent residence is granted for successful entrepreneurs and their family
- PR also functions as a work permit
- The applicants can then apply for citizenship
- Canadian citizens are allowed dual citizenship
- You do not have to provide a source of funds to apply
- There is no age limit for the main applicant
- It has a fast processing time
How long is Canada startup visa processing time?
The current processing time for the start-up visa is between 15 and 18 months. The organization (s) that you seek support from will evaluate the viability of your business proposal.
What are the requirements for a Canadian visa?
You must:
- have a valid travel document, like a passport
- be in good health
- have no criminal or immigration-related convictions
- convince an immigration officer that you have ties—such as a job, home, financial assets or family—that will take you back to your home country
- convince an immigration officer that you will leave Canada at the end of your visit
How to prepare for Your Canada Visa application?
Proof that you’re eligible to travel to Canada
- a negative COVID-19 test result (taken within 72 hours of your departure)
- the evidence you provided in your visa application
- written authorization from IRCC (if you’re required to get it)
- written authorization from the Public Health Agency of Canada (if you’re travelling for compassionate reasons)
How do I get a Canadian startup visa?
How can I qualify for the Start-up Visa Program?have a qualifying business.have a letter of support from a designated organization.meet the language requirements, and.have enough money to settle and live in Canada before you make money from your business.
How much is a startup visa for Canada?
Application CostsApplication FeeRequired Funds (Canadian Dollars)Main Applicant1,540 CADSpouse1,040 CADDependent Child150 CADLegal FeesMay vary depending on the Law FirmApr 4, 2022
How long is Canada startup visa?
PROCESSING TIME 18 months for finalizing the visa application.
How long is startup visa?
2 yearsYour initial Start-up visa will be valid for 2 years, unless you were previously granted leave as a Tier 1 Graduate Entrepreneur, in which case you will be granted leave for a period that will take you to the maximum 2-year limit.
Can I work with startup visa?
With a Start-up visa you can: bring your partner and children with you as your 'dependants', if they're eligible. work in another job, as well as working for your business.
Is Canada start-up visa easy?
The Start-Up Visa lets foreign entrepreneurs build a business in Canada and get permanent residency. It's a far easier and assured way to get PR if you got the business skills and meet some other Start-Up Visa requirements.
How much does start up visa cost?
We recommend you pay the right of permanent residence fee (CAN$515) now to avoid future delays. You will have to pay it before you become a permanent resident. All prices are in Canadian dollars.
How do I get a startup visa?
You must be a national of a country that has an E2 treaty with the United States. You must make a substantial investment in a US company (we typically recommend at least $100,000 or more). The E2 company must be an active, for-profit business. You must direct and develop the E2 company.
Can an international student start a startup in Canada?
No, because to legally start a business in Canada as an individual, you need to be a Canadian citizen or a landed immigrant (permanent resident) and as a foreign worker here on a work permit in Canada, you are neither.
Can I switch from Start-up visa?
Your partner or children will need to apply separately to switch their visa. They can either apply at the same time as you, or at any time before their current visa expires. You should apply before your current visa expires.
Can I switch from Start-up visa to Tier 2 visa?
Yes, it is possible to switch from a Tier 1 Entrepreneur Visa to a Tier 2 General Visa.
How do I get an endorsement for my Start-up visa?
Start Up Visa Endorsement Criteria The applicant has a genuine, original business plan that meets new or existing market needs and/or creates a competitive advantage. The applicant has, or is actively developing, the necessary skills, knowledge, experience and market awareness to successfully run the business.
How much does start up visa cost?
We recommend you pay the right of permanent residence fee (CAN$515) now to avoid future delays. You will have to pay it before you become a permanent resident. All prices are in Canadian dollars.
How do I get a startup visa?
You must be a national of a country that has an E2 treaty with the United States. You must make a substantial investment in a US company (we typically recommend at least $100,000 or more). The E2 company must be an active, for-profit business. You must direct and develop the E2 company.
Can entrepreneurs immigrate to Canada?
Can an entrepreneurial team immigrate to Canada together through the Start-up Visa Program? Yes. Up to 5 people can apply through the Start-up Visa Program as owners of a single business.
About the process
Canada’s Start-up Visa Program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that:
Want to live in Quebec?
The Province of Quebec is in charge of its own business immigration program. If you plan to live in Quebec, visit Quebec’s immigration website.
How to qualify for the Start-up Visa
To qualify for the start-up visa application the following eligibility criteria must be met:
How to apply for Start-up Visa
To apply for the federal start-up visa program the following steps have to be followed:
Processing Times for the Start-up Visa Program
Processing Times can take 12 months up to 16 months. In case the application is incomplete there may be delays. If there are changes in the application the applicant must inform the visa office.
Do I Qualify for the Canada Startup Program?
To qualify for Canada’s Startup Program, you will initially have to meet eligibility requirements for a Canadian visa.
How to Apply for a Canada Startup Visa?
After you have confirmed your eligibility for a Canada Startup Visa, you can start the application, fill the necessary forms, and collect the necessary documents for Startup visa application.
Temporary Work Permit for Startup Visa
You can apply for a temporary Canadian work visa to set up your business before you apply for your residence permit for the Startup Visa.
How to immigrate to Canada as an entrepreneur?
If you want to immigrate to Canada as an entrepreneur, the first step is to identify a Canadian angel investor group, business incubator, or venture capital fund to back you up. At least one of these firms should be interested in investing in your new business.
How long does it take to get a permanent residency in Canada?
You can apply for a Permanent Residency in Canada if you meet all of the above requirements. It usually takes 12 to 18 months for the application to be processed. Here are the phases:
How Does Canada Startup Visa Work?
To apply for a Canada startup visa, you need assistance from a Canadian Venture capital fund, Angel investor group, or Business incubator ( from now on, we call them VABs). The VABs have the authorization to support foreign investors for Canada startup visa. The VAB must be enthusiastic about putting money into your business. The Canadian government must have designated the VAB you choose.
What is a Canada start Up visa?
A Canada startup visa is a way for foreign investors and entrepreneurs to move to the country. The government welcomes such people with open arms. If you want to apply for a startup visa, you should know how the program works.
How Long Does it Take to Receive a Canada Startup visa?
The required time for processing the Canada startup visa is from 12 to 16 months. However, you can also apply for a Canada temporary work visa to work in the country. You can work and wait for the processing of a startup visa.
How many people can own a business in Canada?
In the startup program, up to five people can own a business. Each one of them must possess at least 10% of the voting right. The candidates and the designated company must own more than 50% of the voting right in the business.
What is a VAB in Canada?
The VABs have the authorization to support foreign investors for Canada startup visa. The VAB must be enthusiastic about putting money into your business. The Canadian government must have designated the VAB you choose. So, the first requirement is to get support from a designated VAB.
What language do you need to speak to be a Canadian?
You must be proficient in both or one of Canada’s official languages; English or French. To prove your language proficiency, you must take a test approved by the Canadian government:
CONCEPT STAGE (MVP)
DESCRIPTION: The Business Incubator Residency Program is ideally suited to existing or prospective founders who have a relevant resume, and are intent on launching and operating in Canada. They have to meet the basic admissibility requirements (see below).
PRODUCT STAGE (MVP)
DESCRIPTION: The Angel Investment Residency Program is ideally suited to existing startup founders who are intent on launching and operating in Canada, and require access to additional capital to launch or further develop their product or service offering in the country. They too have to meet the basic admissibility requirements (see below).
MATURE ENTERPRISE (SCALING)
DESCRIPTION: The Venture Capital Investment Residency Program is ideally suited to existing startup founders who are intent on launching and operating in Canada, and require access to additional capital to launch or further develop their product or service offering in the country.
6. Support from a Canadian Designated Organization (Business Incubator, Angel Investor Group or Venture Capital Fund)
Total process duration: 12 – 16 months to Canadian Permanent Residency.
Let an expert, ICCRC licensed Canadian immigration consultant guide you through the immigration process
The above information is intended as general information on the topic only, and does not constitute legal advice. Nor does usage of, or reliance on, any of the information supplied on this site, or via our social media platforms, create a client-attorney relationship.
