The Start-Up Visa Program is designed for entrepreneurs who want to start a business in Canada that is innovative, can create jobs for Canadians, and will be internationally competitive.
Start-Up Visa Program Canada Requirements
To be eligible for the Start-up Visa Program, you must:
Have a qualifying business. There are specific requirements in terms of business ownership, business incorporation, and the amount of work performed for the business in Canada.
Get a letter of support from a designated organization. You must get a letter of support from a designated organization (a business group that has been approved to invest in or support possible start-ups).
Meet the language requirements. You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in reading, writing, speaking, and listening.
Bring enough money to settle. You’ll need to give proof that you have the money to support yourself and your dependants after you arrive in Canada. This amount varies depending on the number of accompanying family members.
Proof of Funds Start-Up Visa
When applying for a Start-Up Visa, you must bring enough money to settle in Canada. The Government of Canada will not offer financial support to new immigrants. As such, when you apply for a Start-Up Visa, you will need to provide proof that you have enough money to support yourself and your family once you arrive in Canada.
The amount of money you will need varies depending on the size of your family.
In general, you will need:
We recommend that our clients review the cost of living in the area of Canada they plan to settle. The cost of living varies across the country so it’s important to plan for the location you will settle in.
Letter of Support Start-Up Visa
Start-Up Visa applicants must have the support of a designated organization to be eligible for this program. Designated organizations include venture capital funds, angel investor groups, and business incubators. In essence, these organizations are business groups that are approved to invest in or support possible start-ups through the Start-up Visa Program.
To get a letter of support from a designated organization, you will need to find an approved organization on IRCC’s list. You will then need to contact the organization and convince them to support your business idea. Each organization has different requirements in terms of demonstrating your business plan. Some organizations will require you to submit a detailed business plan while others will require you to pitch your business in-person.
Once you reach an agreement with the organization, they will send you a letter of support. You need to include this letter when you submit your application to IRCC.
Start-Up Visa Processing Time
The Start-Up Visa processing time is 12 to 16 months. This includes time for the applicant to have their biometrics collected. The cost of the application is $2,075 CAD.
Calver and Associates is a leading provider of Canadian Immigration services in Durham Region. We serve clients in Oshawa, Whitby, Ajax, and beyond. Our Registered Canadian Immigration Consultant has over 10 years of experience in Canadian Immigration law and over four years of experience serving those in the Oshawa area.
We can provide assistance with applications for both temporary and permanent residency in Canada. We handle applications for study permits, permanent residency, family class sponsorship, visitor visas, work permits, and Canadian citizenship. We also handle criminal inadmissibility cases by developing remedies for refusal.