The Canadian Start-up Visa: Tips for Success
Canada Is Looking For Innovative Entrepreneurs Like You!
Many countries, including India, Brazil, Iran, and Nigeria, to name a few, are thriving with innovative tech start-ups and entrepreneurs. Under the Start-up Visa Program, Canada hopes to welcome 500 new permanent residents per year, from 2021 to 2023. This estimate is based on the IRCC's Immigration Levels Plan for the years 2021-2023.
The Canadian Start-up Visa Program was established to target innovative immigrant entrepreneurs with the potential to build dynamic companies capable of competing on a global scale and creating jobs for Canadians. The Canadian government favors entrepreneurs who contribute to the economy.
Eligibility Requirements under the SUV program
To be considered eligible to apply under the SUV program applicants need to meet the following criteria:
Have a qualifying business
Get a letter of support from a designated organization: Before applying for the Start-Up Visa Program, foreign entrepreneurs must demonstrate the support of a Canadian angel investor group, venture capital fund, or business incubator.
Meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all language abilities
Demonstrate that you have minimum settlement funds
Preparing for the Application Process
Working with an experienced immigration consultant is recommended to ensure your application is done correctly and that you have enough support during the process. When you submit your application, IRCC will review it to determine if you meet the eligibility requirements and will contact you for an interview or supporting documents if necessary. You will be granted permanent residency if your application is approved. On average, the processing time ranges from 18 to 24 months.
What May Be Required Of You
IRCC typically wants to see proof of incorporation in Canada as well as proof of progress with the Canadian venture. While many of our clients continue to operate businesses in their home countries, IRCC now expects clients to be actively working on their businesses in Canada, whether they are here on a work permit or not.
In addition to the mandatory documents, you can be expected to show the following:
Educational documents (degrees and transcripts)
Work experience letters and proof of past business experience
An updated business plan
Evidence of market validation and technology development within the company in Canada
Proof of progress and growth – revenue is important here
Optional Work Permit
Applicants under the SUV programme may also be deemed eligible to apply for an LMIA-exempt work permit, allowing them to come to Canada for one year to begin working on their businesses while their application for permanent residence is being processed. They must have already received a Commitment Certificate and a Letter of Support from a designated entity to be eligible for this permit. Furthermore, they will need to demonstrate that they have sufficient finances to support themselves and their family members while working within Canada.
Let’s Prepare Together
Calver Immigration Consulting Inc. can outline the costs and help you prepare and apply for the Startup Visa Program. Jade is an experienced consultant who hosts many start-up visa pioneer programs that help entrepreneurs get started with their immigration journey.
Calver Immigration Consulting Inc. is rated Canada's number one boutique immigration consultancy. We serve clients across Canada and internationally. Our Registered Canadian Immigration Consultant has over 10 years of experience in Canadian Immigration law and over four years of experience serving those in Canada and abroad.
We can assist 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.
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