Canada Start-up Visa
Canada is a place for opportunities. A country ever growing in strength both economically and culturally. The country invites many individuals annually to either fill in their job vacancies, or invest in business or real estate there. Canada encourages many enthusiastic entrepreneurs to implement their ideas in Canada. Through this, the entrepreneurs not just get wings for their dreams but also provide job opportunities to many locals there.
Such innovative ideas should have a global standing. This start-up visa can lead you to obtain your Canadian PR. The applicant under this program need to prove that he/she can support self and family there in Canada without having to depend on public money at any given point of time.
Who is it for
The Canada Start-up Visa Program was designed to help immigrant entrepreneurs who have the capacity to compete at the international market level, provide jobs to the locals and who have business innovative thoughts to grow
UTC−3.5 to −8
9,984,670 km squares
Canada Start-up Visa Program was started in the year 2013 as a pilot project. However, its success ensured the program continue.
In 2017, it was made a permanent option for investor immigrants.
Should have been running a qualifying business. 5 separate individuals can apply for the VISA as owners of the corporation. Each applicant holds at least 10% of voting rights in the corporation.
- a. Both Applicants and the Designated Organization hold a minimum of 50% of the total voting rights in the corporation
- b. When obtaining the Permanent Residency Permit, the applicants need to provide the status of their Business Operations in Canada
- Should obtain a letter of support from business house/designated organization which was been designated to support the possible start-ups.
- Should achieve the Language Benchmark defined by the Canadian immigration authority in Listening, Reading, Speaking and Writing capabilities.
- You need to prove your investment amount and the self-supporting amount. As a self-support, each investor needs to show a minimum amount in his/her bank depending on the number of family members who apply along with the investor.
Process & Timeline
It takes anywhere between 12-16 months to complete the process depending on the clarity of documents submitted
Preparation and Submission of application
- a. Prepare a checklist of documents required and submit the same
- b. Pay application Fees – Process fee, Right of Residence Permit Fees, Biometrics fees
- c. Get your medical certification and police certification done
Provide Bio Metrics within 30 days of receiving a letter for the same
- a. After having received your Police and Medical certification apart from the bio-metrics, the processing for the VISA starts.
- b. In 6-8 months time you will receive a Confirmation of Permanent Residence (COPR) and your entry Visa. However, this is possible only when all your documents get a clean chit and a clearance for the same.
- Use your COPR within 180 days of receiving it. Once in Canada, disclose your funds and show all of your legal documents required.
Designated Organizations Categories
- Designated Angel Investor Groups - minimum investment from them CAD $75,000
- Designated Venture Capital Funds – minimum investment from them CAD $200,000
Designated Business Incubators – No need of investment from the incubators, however, the immigrant entrepreneur, should be accepted into their business incubator program.
To apply for this category, contact XIPHIAS Immigration today to ensure your smooth passage. We are an ICCRC registered firm with a knowledgeable team who update themselves on a timely manner about the changes in regulations and documents to be submitted.
You will have to provide your medical certificate confirming your sound health, and a certificate from Police records to prove your clean character apart from your business plan. Rest we assure to take care.