START-UP IMMIGRATION PROGRAM
Canada is one of the most popular destinations among ambitious entrepreneurs. For entrepreneurs, investors, and business owners who want to expand their business venture Canada is the best place for them. Its strategic location, abundant natural resources, and skilled workforce make Canada an ideal location for business. If you want to scale your business in Canada you can apply through the Start-up Immigration Program.
What is a Start-Up Visa Program?
Canada Startup visa program commonly known as the Canada SUV program permits qualified overseas entrepreneurs, investors, and business owners permanent residency in Canada. Canada SUV program offers opportunities to entrepreneurs to start or establish a new business in Canada. To prove that they are eligible entrepreneurs have to demonstrate that their business idea is innovative, will surely create more job opportunities for Canadian citizens and Permanent Residents, and with their innovative idea, they can succeed on a global scale.
Who can apply for the Start-Up Visa Program?
Here are some of the basic Startup Visa Canada requirements that applicants have to fulfill to become eligible to apply –
- Applicants must have a qualifying business
- Must have professional business ownership or management experience.
- Language proficiency is required: Canadian Language Benchmark (CLB) level 5.
- Must have a Letter of Support from a designated organization.
- Applicants should have proof of funds
- Applicants have to show intention to settle in Canada other than Quebec province.
To qualify for a Canada Start-up visa, how much funds are needed?
Funds depend on the size of your family, it may vary according to your family size. Follow the table to find how much funds you require to qualify for a Start-up visa:
|Number of family members||Funds Required (in Canadian dollars)|
|For each additional family member||$3,586|
What are the designated organizations for the Startup Visa Program?
To be eligible for the Canadian Permanent Residency through Startup Visa Program, applicants are required to attach a Commitment Certificate and Letter of Support with their visa application. Your visa application will require these documents that describe your association with one or more designated organizations. These documents are like proof that a designated organization supports your business.
The program does not require applicants to invest their own capital, unlike federal and provincial investor programs.
Canada Startup Visa Designated Organizations
You must have the support of one or more of the following organizations when you start a business idea or venture:
- 7 Gate Ventures
- BCF Ventures
- BDC Venture Capital
- Celtic House Venture Partners
- Extreme Venture Partners LLP
- Golden Venture Partners Fund, LP
- Impression Ventures
- Innovation Platform Capital International LP
- iNovia Capital Inc.
- Lumira Capital
- Nova Scotia Innovation Corporation (o/a Innovacorp)
- OMERS Ventures Management Inc.
- Pangaea Ventures Ltd.
- PRIVEQ Capital Funds
- Real Ventures
- Relay Ventures
- ScaleUp Venture Partners, Inc.
- Top Renergy Inc.
- Vanedge Capital Limited Partnership
- Version One Ventures
- Westcap Management Ltd.
- Yaletown Venture Partners Inc.
- York Entrepreneurship Development Institute (YEDI) VC Fund
- Alacrity Foundation
- Alberta Agriculture and Forestry
- Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
- Creative Destruction Lab
- Empowered Startups Ltd.
- Extreme Innovations
- Genesis Centre
- Highline BETA Inc.
- Interactive Niagara Media Cluster o/a Innovate Niagara
- Invest Ottawa
- Knowledge Park o/a Planet Hatch
- LatAm Startups
- Launch Academy – Vancouver
- LaunchPad PEI Inc.
- Millworks Centre for Entrepreneurship
- NEXT Canada
- North Forge Technology Exchange
- Platform Calgary
- Real Investment Fund III L.P. o/a FounderFuel
- Ryerson Futures Inc.
- Spark Commercialization and Innovation Centre
- Spring Activator
- The DMZ at Ryerson University
- Toronto Business Development Centre (TBDC)
- TSRV Canada Inc. (operating as Techstars Canada)
- Waterloo Accelerator Centre
- York Entrepreneurship Development Institute
Startup visa Canada applicants must meet the following requirements:
- Secure at least $75,000 from a Canadian Angel Investor, or
- An investment of at least $200,000 from a Canadian venture capital fund recognized by the Canadian federal government.
- If the applicant is accepted into a recognized Business Incubator, then there is no need for investment capital.
How to apply for the Canadian Startup Visa Program?
Follow the following steps to apply for a Canada Permanent Residence visa under Startup Visa Program:
Step 1. Get your letter of support from a designated organization
Step 2. Fill out the visa application form
Step 3. Gather all required documents
Step 4. Pay your application fees
Step 5. Submit your visa application
What is the cost to apply for the Canada Startup Visa?
Applicants have to pay the application fees, Right of Permanent Residence Fee, and biometrics fees to Immigration, Refugees, and Citizenship Canada (IRCC) to apply for a Startup Visa:
|Application, per person||Fees in CAD|
|Main applicant - processing fee||$1,625|
|Main applicant - Right of Permanent Residence Fee||$515|
|Spouse/partner - processing fee||$850|
|Spouse/partner - Right of Permanent Residence Fee||$515|
|Biometrics fees, per person||$85|
|Biometrics, family of two or more, applying at the same time and place||$170|
What is the Canada Startup Visa processing time?
Currently, the processing time for the Canada Startup visa is approximately 12 to 16 months but it can vary because of many factors, such as whether applicants have submitted complete documents or not, type of application submitted, etc.
Why trust BOI Services with your visa process?
- Authorized and licensed Immigration Consultancy.
- Check eligibility based on the latest immigration rules & regulations
- Ensure a safe and transparent online process.
- Complaint resolution system to provide excellent customer support
- Profiles are evaluated with specially designed services
- Cases are assessed & rectified multiple times before submission
BOI Services is one of the best Immigration Consultancy in New Delhi, widely regarded as one of the most reputed and trusted Immigration Consultancy in India by its customers. We have helped hundreds of visionary people to successfully immigrate to Canada through Start-up Visa Program. Our trained, well-versed, and experienced Immigration Experts are dedicated to support you with your immigration process.