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Start-Up Visa

Start-Up Visa

Globalization is at its peak and Canada shines as a bright star among the world economies! To tap this potential, Canada offers a Startup Visa that fundamentally focuses on individuals who aim to start and flourish businesses in Canada. At Canus World, our dedicated team of experts aim to make your Canadian dream a reality! Startup Visa Program just fits in to do that and we know exactly how to deliver the best immigration solution based in Edmonton! 

Benefits of Startup Visa:

Comfortable stay: A Startup Visa entails a suitable stay for such visa holders. At Canus World, we pay our undivided attention to let you know all the necessary information that is not only relevant but also necessary to let you know the true picture.

Tapping Business opportunities: Canada is known for its robust economic prospects. To realize the same dream, Canus World, have come up with the best immigration solution based in Edmonton!

Understanding Canadian market: Canadian market is one of those eclectic markets around the globe that promise immense growth amid a peaceful and highly skilled work culture. Canus World, reflects upon your concern to deliver the best immigration solution based in Edmonton!

Lucrative business expansion: Canada is known for its high-end professional services and the scope for business expansion is immense!

Eligibility:

  • Qualifying startup Plan: Individuals opting for a Startup Visa must have an active business plan that they aim to establish on the realms of Canada. Canus World, provides you with all the real information to the point so that you get a fairer understanding for the visa process. Experiencing the best immigration solution based in Edmonton is now not a distant dream!

  • Language prerequisite: Canada mandates English and French as language options that are essential.

  • Work experience and education: At Canus World, we help you understand what are the basic work requirements, educational needs that needs to be fulfilled in order to obtain a startup visa in a robust manner. Thus, you get the best immigration solution based in Edmonton

  • Valid Documentation: At Canus World, you get to know the right documentation needed to strengthen your case. 

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Eligibility Criteria:

  1. Commitment from a Designated Entity: Eligible applicants must secure a commitment from a designated Canadian venture capital fund, angel investor group, or business incubator, endorsing the innovative potential and viability of the proposed business.
  2. Qualifying Business: The business venture must be incorporated and operated in Canada, demonstrating its potential to scale and contribute substantively to the Canadian economy.
  3. Language Proficiency: Proficiency in English or French is a prerequisite, with language test results showcasing the applicant’s ability to effectively communicate and integrate into the Canadian business milieu.
  4. Education and Experience: Applicants must possess a post-secondary degree or diploma and relevant entrepreneurial experience, affirming their capacity to spearhead and nurture an innovative business.
  5. Settlement Funds: Proof of settlement funds to support the applicant and their dependents during the initial phases of their Canadian sojourn, ensuring financial stability as they embark on their entrepreneurial journey.
  • Robust startup ecosystem
  • Fast-track permanent residency
  • Diverse and inclusive culture
  • Global market access
  • No age or higher educational requirement
  • Provides a direct path to networking and funding opportunities
  • Give access to the strategic location and vigorous trade relationships – ideal for startups

What are the eligibility criteria for the Start-Up program?

The main four points eligibility criteria of this program are:

  • 1. Meeting the language proficiency requirements
  • 2. Bringing in enough settlement funds to Canada
  • 3. Obtaining a letter of support from – “A Designated Organization”
  • 4. Building a Qualifying Business

Meeting the language proficiency requirements

You must give at least one of the approved language tests, i.e., IELTS, CELPIP-G, TEF Canada, or TCF Canada, and score a minimum of CLB 5 in:

  • Speaking
  • Reading
  • Listening
  • Writing

Not being able to meet this requirement will result in the refusal of your application.

Bringing in enough settlement funds to Canada

You must show sufficient funds to settle in Canada for yourself and your dependents. The exact required amount would depend on the family size and range from $12,960 for just yourself to $34,299 for seven family members.

Obtaining a letter of support from – “A Designated Organization”

A “Designated Organization” is an approved business group that can invest in or support potential start-ups through the start-up visa program. You must convince at least one of these Designated Organizations to fund your business idea. Each type of Designated Organization has specific minimum investment requirements, and they are divided into three categories: 

Designated Canadian Organizations

Minimum Investment

Venture Capital Funds

$200,000

Angel Investor Groups

$75,000

Business Incubators

No minimum investment security is required.

A list of all approved organizations under these categories can be found here.

Once you can convince at least one of these organizations by contacting them and getting your business idea approved, you must obtain a letter of support from them. This “Letter of Support” must be included in your application. This letter and a commitment certificate provided by the Designated Organization will be used to assess your Start-Up Visa application.

Building a Qualifying Business

The created business should meet these conditions to be termed a “Qualifying Business”:

  • When getting a commitment from the designated organization, every applicant should hold a minimum of 10% of the corporation’s voting rights at that time. The designated organization and the applicant should have more than 50% of the voting right.
  • You should actively manage the business inside Canada when receiving your permanent residence. The business should also be incorporated in Canada, and you must be an essential part of its operations.

Meeting these four requirements can make you eligible to apply for this program.

What is the application fee for the Start-Up Visa Program?

The current Start-Up Visa Program fee set by the IRCC is $2,075 (Subject to Change).

Frequently Asked Questions

No age limit is imposed for applying for a startup visa in Canada. Therefore, anyone can easily apply for the same without worrying about age.
One of the most prominent advantages of the Startup Visa is that it offers a straight route to Canadian Permanent Residence (PR). Successful candidates become permanent residents with access to various social benefits and a high standard of living.
According to IRCC, the SUV program has a more than 75% success rate overall.

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