Ever thought to relocate to Canada? If you have passion and the country entices you, then it is time to immigrate to Canada. There are numerous opportunities to move to Canada which are available to people who meet the eligibility requirements. Among them is a start-up visa. This visa is an attractive route to the country that offers mammoth opportunities for your career growth. Canada is a beautiful county where you can find many opportunities to grow. If interested, you may then immigrate to Canada with a start-up visa. Let’s learn details about this program.
Immigrate to Canada with a Start-Up Visa – Process to Follow
Well, Canada Start-Up Visa Program is for immigrant entrepreneurs possessing skills and potential to start/build businesses in Canada which:
- Can create jobs for Canadians
- Are unique/innovative
- Have the potential to compete on a global scale
If you possess a unique or innovative idea for a business, and if you can get support for your unique idea from one of the designated organizations, you may immigrate to Canada.
Eligibility Criteria for a Start-Up Visa
If you like to be eligible for the start-up visa program, you have to:
- Possess a qualifying business
- Obtain a support letter from a designated organization
- Meet the requirements for language
- Bring a sufficient amount (money) to settle in Canada
Possession of a Qualifying Business
If you want to immigrate to Canada or want relocation to that country, then you need to possess a qualifying business. As far as a qualifying business is concerned, it is a business that meets the below-mentioned conditions:
At the time you get a commitment from a designated organization:
- Each applicant possesses ten percent or more of the voting rights associated with all shares of the corporation outstanding at that time (up to five people may apply as owners) and
- The designated organization and applicants jointly possess more than fifty percent of the total voting rights associated with all shares of the corporation outstanding at that time.
At the time you get permanent residence:
- You need to provide ongoing and active management of this particular business from within Canada.
- An important part of the operations of that particular business takes place in Canada.
- This particular business is incorporated in Canada.
Letter of Support from a Designated Organization
If you want to have a start-up Canada visa, you need to get a letter of support from a designated organization (it is called a business group that has been approved to make an investment in or support possible start-ups).
You will have to:
- Make a contact with a designated organization to find out the process of how to get its support.
- Convince that organization showing that you possess a business idea that needs support (that is worth supporting).
- Obtain a support letter from the designated organization.
For each organization, the procedure of pitching an idea is different since each organization carries its own requirements. This could happen to you that you might be asked to submit a detailed plan of business, or preset your business concept in person.
You are required to very carefully meet all the start-up visa Canada requirements in order to be eligible and approved. Thus, you need to be very careful. Coming back to the procedure with the designated organization, if you land up with an agreement with a designated organization, you will then receive a letter of support from the organization. This letter should be included with your start-up visa application when you submit it. This turns out to be proof to show that a venture capital fund, business incubator, or angel investor group is supporting your idea of business.
The designated organization will also provide a commitment certificate directly to the Government of Canada (the authorities which handle immigration procedures, etc.). Subsequently, both the commitment certificate issued by the designated organization and your support letter will be assessed by the authorities/government for the assessment of your application. To take a final decision on your start-up visa application, you may be asked for more business information.
Remember, if you are unable to provide or include your letter of support with the application or you do not meet any of the other requirements, your application for the start-up visa program will be refused.
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If moving to Canada is your purpose on a start-up visa, then along with other requirements, you will also need to meet the language requirements. If you have the ability to communicate and work in English, French, or in both of these languages, it will certainly help your business succeed in Canada.
You need to take a language proficiency test from an approved agency, and then attach or include your test result along with your application. Otherwise, your application will not be processed. You need to meet the minimum language requirements. If you do not meet the minimum, your application will be turned down. You may check the complete details on the official website about the minimum requirements and other relevant details.
Money for Settlement
You have to note that the Canadian government does not provide any kind of financial support to new start-up visa immigrants. Thus, the immigrants (start-up visa program candidates) will need to bring enough money to settle when they come to Canada after their visa approval.
By the time you apply for this visa program, you have to provide proof that you have sufficient funds to support yourself and your dependents after you land in Canada.
Note: The required amount depends on the size of your family. The Canadian government updates these amounts every year. The last updated official list of funds is as under (it is always advisable to visit the official website to get updates)
No. of Family Members
Required Amount (Funds) in Canadian Dollars
For each additional member of the family
It is always advisable to bring as much money as you can to avoid problems and to make moving to Canada and finding a place for you (and your dependents if along with you) to live in easier.
To learn complete details about eligibility (who can apply), you may visit the details available at the official webpage.
How Can You Immigrate to Canada with a Start-Up Visa (How to Apply)?
All you need to do is apply online. Since 14th October 2022, it has now been made mandatory to apply online for this visa. As far as the start-up visa Canada processing time is concerned, it is around 32 months (as per the current scenario and the official website, you are advised to check the updated timeframe on the official website before you apply). To learn all detail as to how you can apply, you may visit this official webpage.
To learn all details on the official page and to get complete information, you should visit the official website.
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