Complete SUV Guide For 2022/2023 Canada Start-up Visa Program
The startup visa program is one of Canada’s primary business immigration pathways, designed to encourage the entry of business owners, entrepreneurs, and innovators into the country.
According to reports, the Canada start-up visa program is a special immigration program established by the government to encourage investors, entrepreneurs, and venture capital groups to migrate to Canada for business purposes.
Migrating to Canada has never been easier, with the Canadian government providing a plethora of opportunities for foreign nationals who wish to relocate to Canada for a variety of reasons.
Canada, as a preferred destination and one of the best countries in the world with a high standard of living, welcomes all nationalities with the appropriate skill set, qualifications, and experience to come and explore the economy, community, culture, lifestyle, and privileges that Canada has to offer. Canada as a country is interested in attracting people who can add to or contribute to the growing economy and improve the already established lifestyle.
The business category of visas was created with this vision in mind; it allows already established businesses seeking expansion into the Canadian economy easy access as long as they meet the stipulated requirements; it also allows business start-ups to gain access into a thriving economy where their business ideas, innovations, and small enterprises can fly with ease.
A stable government with sound economic policies, assistance from business incubators, venture capitalists, and angel investors who are designated by the government to assist qualified start – ups who meet their required criteria, a business friendly environment, and a community of like minded business oriented professionals and enthusiasts are all available in Canada. The start-up visa is one such business visa.
What exactly is the Canada Start-up Visa Program?
The startup visa program is one of Canada’s primary business immigration pathways, designed to encourage the entry of business owners, entrepreneurs, and innovators into the country. This program is intended to boost the local economy in the area where such businesses will be located while also providing job opportunities to the Canadian labor market.
The start-up visa program allows you to migrate to Canada by starting and owning a business in any part of the country. After qualifying and obtaining the startup visa, the entrepreneur is granted a permanent residence permit.
The program connects entrepreneurs and startups with designated private business investor organizations such as angel investors, business incubators, and venture capitalists, whose assistance allows the startup to get off to a good start financially.
The Canada startup visa program targets immigrants and foreign nationals who are skilled entrepreneurs and can build businesses that will significantly contribute to the Canadian economy. The program is designed to promote innovation, job creation, and global competitiveness.
Organizations with Designated Start-up Visas
If you have innovative ideas and/or a good business startup, you can get help from any of these designated investor organizations and realize your dream of relocating to Canada.
Funds for Venture Capital
You must persuade at least one of these organizations to invest a minimum of $200,000:
Canada Start-up Visa Corporations
Seven Gate Ventures
BCF Ventures Arete Pacific Tech Ventures (VCC) Corp
Venture Capital BDC
Celtic House Joint Venture Partners
LLP Extreme Venture Partners
Golden Venture Partners Fund, Limited Partnership
Intrinsic Venture Capital iNovia Capital Inc.
Innovacorp (Nova Scotia Innovation Corporation)
PRIVEQ Capital Management
Relay Ventures is a real venture.
Top Renergy Inc. Vanedge Capital Limited Partnership Version One Ventures ScaleUp Venture Partners, Inc.
Yaletown Venture Partners Inc. Westcap Management Ltd. York Entrepreneurship Development Institute (YEDI) VC Fund Angel Investor Groups
You must convince one or more investors connected to these groups to put up a minimum of $75,000:
Angel Investor Organizations in Canada
International Angel Investors from Canada
Golden Triangle Angel Network Ekagrata Inc.
Oak Mason Investments Inc. Keiretsu Forum Canada Southeastern Ontario Angel Network
VANTEC Angel Network Inc. TenX Angel Investors Inc. York Angel Investors Inc. Business Incubators Visa
You must be admitted to one of the following programs:
Business Incubators in Canada
Alberta Agriculture and Forestry Agrivalue Processing Business Incubator Food Processing Development Centre Alacrity Foundation
Canada Biomedical Commercialization Inc. (operating as Manitoba Technology Accelerator)
Extreme Innovations Extreme Destruction Lab Empowered Startups Ltd.
Highline Genesis Centre Interactive Niagara Media Cluster o/a Innovate Niagara Invest Ottawa Knowledge Park o/a Planet Hatch BETA Inc. Innovacorp Innovation Cluster – Peterborough and the Kawarthas
Millworks Centre for Entrepreneurship – LatAm Startups Launch Academy – Vancouver LaunchPad PEI Inc.
UP NEXT Canada
Calgary North Forge Technology Exchange Platform North Forge East Ltd.
Real Investment Fund III L.P. o/a Founder Pycap Inc (o/a Pycap Venture Partners)
Spark Commercialization and Innovation Centre Ryerson Futures Inc.
Activator for a Spring
TSRV Canada Inc. The DMZ at Ryerson University Toronto Business Development Centre (TBDC) (operating as Techstars Canada)
Entrepreneurship Hatchery at the University of Toronto
York Entrepreneurship Development Institute VIATEC Waterloo Accelerator Centre
What are the Start-Up Visa Requirements in Canada?
The startup visa requirements in Canada are divided into three categories: business requirements, personal requirements, and financial requirements. Prior to working with any of the designated sponsoring organizations, you must also meet the eligibility standard. The following are the eligibility requirements:
You must have a viable business concept or startup.
Have enough money for your settlement and the needs of your dependents.
Obtain a certificate of commitment and a letter of support from a designated support organization.
Proof of English or French language proficiency via a recognized Canadian language test.
Financial Requirements for a Canada Startup Visa
NUMBER OF FAMILY MEMBERS REQUIRED FUNDS (IN CANADIAN DOLLARS)
1 $12,960\s2 $16,135\s3 $19,836
4 $24,083\s5 $27,315
6 $30,806\s7 $34,299
$3,492 for each additional family member
To be eligible to apply for and receive the startup Visa, you must be able to demonstrate that you can financially support yourself and any dependents who may accompany you. The list above shows how much money you will need to make this happen because the Canadian government does not provide financial assistance to settling immigrants.
Business Startup Visa Requirements
The company must have been able to secure and demonstrate proof of at least $75,000 in funding from a designated angel investor organization or group.
Show proof of a $200,000 investment commitment from a venture capitalist organization or group.
A business incubator organization or group has accepted the company into the business incubator program.
The entrepreneur owns at least 10% of the company’s voting rights.
No one else owns more than half of the voting rights in the company.
The proposed business must be registered in Canada.
The main business operations must be carried out in Canada.
The entrepreneur must be involved in the company’s management.
Personal Requirements for a Startup Visa
As proof of ability to communicate effectively, a language proficiency test must be completed, with a minimum benchmark of 5 marks for speaking, listening, reading, and writing in either English or French.
How to Apply for a Business Visa
Choose the application package you want and fill out the application form. finish the document checklist
Payment of application fees
Please submit your application.
Biometric data collection and storage is included in the process. You must pay for the biometric before submitting your application; otherwise, your application may be delayed. The biometric fees cover the costs of fingerprint collection and digital photo capture.
Third-party fees may also be included in your requirements depending on the circumstances; these are
Police reports or certificates, as well as proof of language test results
You must do the following to ensure that your application is complete and in order:
Answer all of the questions that have been assigned to you.
You must sign all applications and forms.
Pay your processing fees and include a copy of your receipt with your application.
Include all supporting documentation.
If all of these requirements are not met, your application will be returned to you. All errors must be corrected before resubmitting.
For any additional questions or instructions on how to apply and the steps to take, please visit the CIC start-up visa website:
Processing Time and Fees for a Startup Visa in Canada
The current processing time for the start-up visa is 12 to 16 months, with a processing fee of $2, 075.
Obtaining Permanent Residence on the Basis of a Startup Visa
Entrepreneurs and applicants who have already obtained a commitment certificate from a designated investor and wish to begin working before their permanent residence application is approved can apply for a temporary work permit using their commitment certificate from the supporting investor organization. To obtain a work permit, the entrepreneur or business owner must provide a letter of support from the designated investor as well as proof of financial sufficiency that he or she can meet the needs of the family for at least one year.
However, in order to obtain permanent residency, the following criteria must be met:
The company must be registered in Canada.
The entrepreneur must be actively involved in the operation and management of the company in Canada.
Canada must be the location of its major operational activities.