How to qualify for the Start-up Visa?
Last Updated: December 19, 2022
Entrepreneurial applicants must fulfill four major criteria before they can submit a start-up visa application.
- Own a legitimate business
Entrepreneur applicants should establish a business in which each immigrant holds at least ten percent of the voting rights having link to all of the corporation’s shares in order for it to be a qualifying business. Together, up to five new applicants may apply as owners. Additionally, more than half of the total voting rights should be held jointly by the applicants and the given organization.
- Obtain a commitment from a designated entity
Prior to submitting an application for the Start-up Visa Program, foreign business owners must obtain the support of a designated organization that will help the company grow in Canada.
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To find potential matches for their business venture, interested applicants can refer to the lists above. Requirement of a  Letter of Support that is part of the application is to show the dedication of an organization. After they issue it, letters of support remain valid for six months.
- Show proficiency in either English or French
All candidates for the Start-up Visa Program must exhibit fluency in either English or French, the official language of Canada. Candidates must demonstrate proficiency at Canadian Language Benchmark (CLB) They accept Level 5 or higher in order to be into the program. When applying, the test results must be no older than two years.
The following test providers are currently taken by Canadian immigration authorities as sources of English test results:
- IELTS (General test)
- CELPIP (General test)
Test results from either of these two French tests:
- TEF
- TCF
- Meet IRCC’s proof of funds requirement.
Interested candidates must demonstrate that they have the financial resources to support their family’s relocation to Canada.
How to apply to the Start-up Visa Program
If a foreign businessperson qualifies for the Start-up Visa Program, they must prepare and send in an application via mail or online.
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Documentation proving that the applicant satisfies each of the program’s four main requirements for the Start-up Visa Program application. The application also requires a substantial amount of supporting documentation proving the principal applicant’s and accompanying family members’ eligibility for immigration to Canada. This involves conducting medical exams and obtaining police clearances to make sure an applicant is not criminally or medically ineligible. Biometrics and certified translations of documents that are not presented in English or French will also be required of many applicants.
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For the Start-up Visa Program, the application fee is CAD $1,625 for the principal plus a $515 right of permanent residence fee, $850 for the accompanying spouse/common-law partner plus a $515 right of permanent residence fee, and $230 for each dependent child.
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The IRCC’s Centralized Intake Office in Sydney, Nova Scotia, should receive all of the application’s hard copies, which should assemble in a single envelope and sent by mail or courier.
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Usually, it takes 12 to 16 months to process an application. However, candidates can apply for a temporary work permit, which would allow them to start working in Canada before their application for permanent residence is approved.
Start-up Visa for Canadian investors
New applications from Canadian organizations seeking to assist immigrant entrepreneurs. In starting up their businesses in Canada are now being accepted under the Start-up Visa Program.
Three categories of organizations are accepted under the Start-up Visa Program: angel investor groups, business incubators, and venture capital funds.
An organization must first receive IRCC designation in order to take part in the program. To designate an organization should belong to one of the IRCC’s partner industry organizations in order :
Making suggestions for venture capital funds is the Canadian Venture Capital & Private Equity Association (CVCA).
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Angel investor groups and business incubators are advised by the National Angel Capital Organization (NACO).
Reasons for start-up visa rejection
There are several steps necessary while applying for Canadian permanent residence under a Start-up visa. And you should provide extensive documentary proof of the potential business’s economic viability. Candidates from all categories, including skilled, business-minded, and high-net-worth individuals, may submit their applications under this heading. But if the Canada Entrepreneur Visa application is incomplete, contains inaccurate or out-of-date information, or the background check turns up information, it could result in delays or rejection.
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Depending on the requirements for the Startup Visa, the application faces approval or denial. These include having a qualifying business, supplying a letter of support from a designated organization, satisfying the language proficiency requirement, and demonstrating sufficient funds to settle in Canada.
Advantages to launching a business in Canada
- Canada promotes multiculturism, or the peaceful coexistence of communities from various cultures, and upholds a welcoming and friendly attitude toward immigrants.
- Enjoy a better quality of life and have access to numerous job opportunities where they can develop their skills.
The world’s safest nation and one that offers free healthcare to all of its citizens. High standards of education for children and an affordable educational system. A reliable democratic political system is also present.
