Start-Up Visa

Canada wants people who know how to do business and can efficiently start companies that help the economy grow and efficiently provide jobs for locals. If you have an idea for a new business and can set it up in Canada, you might qualify for the Start-Up Visa Program. This program helps people start their businesses within Canada. If you qualify, you can move to Canada and start your business.

Requirements for Start-up Visa

If applicants want to qualify for this visa, applicants need to fulfill these requirements:

Qualifying Business

• Own at least 10% of voting shares in your company.
• Together with the designated organization, hold at least 50% of voting shares.
• Get a letter of support from an approved organization.
• Show that an investor, like an angel investor, venture capital fund, or business incubator, is backing your business.
• Present a strong and unique business idea.
• Provide a letter of support after a successful pitch.

Language Proficiency

The applicant must have at least a CLB 5 level in either English or French for speaking, listening, reading, and writing.

Proof of Funds

Provide evidence that you have enough amount of money to support yourself and your family when you arrive in Canada. The amount needed depends on the size of your family. The money must be yours and not borrowed.

Investment Details

IRCC has selected certain investment groups, private investor networks, and business incubator organizations to assist with the Start-Up Visa program. Applicants need to secure funding for their business in Canada. If the investment comes from a Canadian venture capital fund, it needs to be a minimum of $200,000. When the funding is provided by a group of angel investors, the minimum required amount is $75,000. Applicants don’t have to get the money from the business incubator, however, they need to be admitted to the Canadian incubator program. The applicants don’t need to put in their own funds. If their business fails, they will still be able to retain their permanent residency in Canada.

What is the Way to Apply for a Start-Up Visa?

1. Fill out the Generic Application Form for Canada.
2. Check the form to make sure all the details are correct.
3. Print the form, including the barcode page.
4. Sign and date the form.
5. Arrange your documents as listed in the checklist.
6. You need to take a language test.
7. Put everything in a sealed envelope and use the checklist as the first page.
8. Pay the required fees, including processing, permanent residence, third-party, and biometric fees.
9. Mail your application and write “Start-Up Visa” on the envelope.

What is the Processing Duration for the Canada’s Start-Up Visa?

The time needed to process this visa application is usually around 31 months. However, the actual time may change based on different factors, such as how many applications are being handled and whether all required documents are submitted correctly.

How CWC Can Help?

The Start-Up Visa Program helps people start businesses in Canada and live there permanently. If you meet the requirements and get support from the right organization, you can apply. The process takes about 31 months, but sending the right documents on time can help. If you are not sure about where to start then you should check out CWC, because CWC offers a FREE assessment to see if you qualify and guide you through the steps. Get in touch with us today!