Start Up Visa Program

The government of Canada has opened its doors for young entrepreneurs and businessmen through its Star-Up Visa initiative. If you are a business-minded individual who has the ability to shape and implement game-changing ideas, then the Start-Up Visa is the best opportunity for you to Immigrate to Canada.

Canada is in need of talented and bright-minded individuals who are passionate about their business ideas and have the ability to become a driving force in Canada’s economy. Such vibrant and brilliant individuals will be supported by the Canadian government throughout the visa process. They will be able to immigrate to Canada to work on their ideas with lots of other opportunities waiting for them.

Here, we will be discussing every critical aspect of the Start-Up Visa and how you can benefit from it.

Start-Up Visa Program:

The Start-Up Visa program started by the government of Canada is primarily designed to provide entrepreneurs with the opportunity to immigrate to Canada in pursuit of their business. Although the whole process focuses on facilitating the deserving entrepreneurs more and more, there are still some conditions that need to be fulfilled by the candidates to be granted a visa. We can narrow down these conditions to three main terms, which are as follows:

• Applicants must be able to prove that their business idea is innovative and a game-changer.
• The business should be able to create jobs for Canadian nationals.
• The business must be able to compete globally on a large scale.

 

• Requirements for Start-Up Visa:

The four basic requirements applicants need to meet for being eligible for a Canadian start-up visa are given below:

1. The applicant must have a qualifying business setup:

   1. A minimum of 10% of the voting rights attached to all company shares must be owned by the applicant himself.
   2. The applicant must hold at least 50% of the voting rights attached to all company shares with the designated organization.

2. The applicant must have a letter of support from a designated organization:

   1. The applicant will be required to prove that they have the support of a designated organization such as venture capital fund, angel investor group, business incubator, etc.
   2. For getting the support of the designated organization, the applicant must pitch the idea to the organization and convince the stakeholders that their business idea is worth it. The applicant has the ability to sustain their business and expand it in the future.
   3. The procedures and roadmaps for reaching out to different designated organizations will be different and will require the applicant’s attention.
   4. If the applicant succeeds in convincing the designated organization that their idea or business is sustainable and finally gets the desired support, the applicant will be required to attach a letter of support from that designated organization with his/her application.

3. The applicant must fulfill the language requirements:

   1. The applicant must take a language test from a credible agency and prove that he/she meets the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all three domains of speaking, reading, listening, and writing.

4. The applicant must be able to show proof of funds:

   1. The applicant is required to prove that he/she possesses enough money to support himself and any other dependents after his/her arrival in Canada. The amount needed by the application varies according to the size of the applicant’s family.

 

Ø Contract with Designated Organizations:

An essential part of eligibility requirements is that the applicant must provide proof of contract/commitment from the designated organization, explaining that that organization supports his/her business. These documents will cover all the details of the applicant’s arrangement with these established organizations and will be an essential part of the applicant’s Start-Up Visa application. Contrary to the requirements of other federal and provincial programs, the applicant is not required to have any investment of his/her own in the Start-Up Visa program.

However, those candidates who fulfill the eligibility criteria must secure a minimum amount of $75,000 from a Canadian financier or a minimum amount of $200,000 from a Canadian venture capital fund, which the government of Canada recognizes. But if the applicant is accepted into a recognized Canadian business incubator, no investment capital will be required.

• Processing time for Canada Start-Up Visa:

The processing time for Canada’s Start-Up Visa is usually between 12 and 16 months.