What is a Start-Up Visa Program?
Canada Stat-Up visa is an excellent opportunity for entrepreneurs around the world to get connected with organizations in Canada who provide funding and guidance in setting up new business ventures in Canada. If applicants are successful under this program they have a chance of gaining Permanent Residence in Canada. This program will help entrepreneurs to establish their businesses in Canada. The start-up visa is for entrepreneurs to establish businesses that will bring new ideas that can compete around the world and at the same time create employment within Canada and contribute to the Canadian economy.
Note: The start-up visa program is not for entrepreneurs who wish to establish businesses in Quebec.
How to qualify for the Start-up Visa
To qualify for the start-up visa application the following eligibility criteria must be met:
- The applicant must have a qualifying business that he/she intends to expand in Canada which means he/she should be able to get a commitment from a designated organization. The applicant’s voting right attached to all shares must be at least 10 % and together the designated organization and the applicant must hold 50 % of voting rights of all shares. For eventual permanent residence, an integral part of the business must be established in Canada including operations and management.
- The applicant must have supporting documents such as a letter from a designated organization which shows that a business/start-up has been approved to be established in Canada. To obtain a letter from a designated organization the applicant must have a business proposal that will have the organization willing to invest in Canada. A mutual agreement between the organization and applicant will lead to a letter that will be needed during the submission of the application. A commitment certificate by the organization will also be required to support the application. Additional documentation may also be required.
- The applicant must meet all language requirements to obtain a Start-up visa in Canada. Having ample language skills are essential for doing business in Canada. The applicant must take an approved language test and meet minimum score requirements or must meet the minimum level of Canadian Language Benchmark (CLB) 5 in English/French. The language tests measure four different modules which are speaking, listening, reading, and writing. For a successful application, meeting the language requirements are mandatory.
- The applicant must also have sufficient funds to be able to start a business in Canada. Proof of funds will be required during the submission of the application. There should be enough funds to support the applicant and any dependents along, for settling in Canada. The sufficient amount needed depends upon the size of the family and is updated yearly by the government of Canada. It is imperative to note that the applicant cannot borrow this money from someone and must able to show that the funds showed are readily and legitimately available to himself and he/she will be able to support him/herself and accompanying dependents. An average of funds required are stated below:
Family Members Funds in Canadian Dollars
For every additional member $3,492
Temporary Work Permits
Applicants whose permanent residence application is being processed under the start-up visa program have the opportunity to apply for a temporary work permit to get to Canada and start establishing their business. This type of Work Permit is for applicants who have commitment certificates, letters of support, or letters from a designated organization under the start-up visa program.
How to apply for Start-up Visa
To apply for the federal start-up visa program the following steps have to be followed:
Check the eligibility requirements:
As mentioned before that to be eligible for federal startup visa program one must have a qualifying business meaning that you should have a business or business idea which can meet the following requirements:
Able to get a commitment from the approved designated organization(s) and should able to meet the voting requirements as mentioned above and besides that one should be able to show that they intend to operate the day to day operations of the business from Canada and it will be managed and operated from within Canada and lastly the business should be a federally or a provincially incorporated organization.
Get the application and fill it out:
Fill up the appropriate application forms which include; the Generic Application Form to Canada (IMM0008), Additional Dependent Declaration Form (IMM0008dep) if applicable, Business Immigration Form (IMM0008 Schedule 13) Supplementary Travel Information Form, Additional Family Information Form, Background Information Form, etc. on your computer. Once the application forms are filled, it must be signed and printed. There is a barcode page also on some forms which must be printed. In the case of more than one application package, separate bar code pages must be printed and attached to each application.
Attach all essential and required documents:
The application package has a document checklist that states all the documents to be submitted along with the application. Some of the documents that must be included are; a letter of support, financial statements, medical records, police records, fingerprints, etc.
The applicant will have to pay different fees such as processing fees, right of permanent residence fee, biometric fees, etc.
Apply for the Startup Visa Program:
Once the application is complete and completely signed attach a copy of receipts of processing fees, supporting documents and biometrics, and then submit your application. The application must be free from fraudulent information as that can cause the applicant's application to be rejected and be inadmissible for five years.
Processing Times for the Start-up Visa Program:
Processing Times can take 12 months up to 16 months. In case the application is incomplete there may be delays. If there are changes in the application the applicant must inform the visa office. Delays may be due to criminal or security checks, verification of information provided by the applicant, or ambiguous family situation of the applicant.
Medical Certificates and Police Certificates:
The applicant must take medical tests of themselves along with all dependents coming along. All dependents and the applicant must have clean criminal records and submit police records.
If you are an entrepreneur and have a business proposal let us help you in establishing your business and yourself in Canada. The information provided above is just the tip of the iceberg and several other things needed to be addressed in a complete start-up visa application. We have affiliated business plan writers who can write a successful plan for your start-up visa application. Do not hesitate to discuss your options as Canada can be your dreamland for your innovative business idea and for your family to live and prosper further.