Canada Startup Visa

What is the Canada Startup Visa Program?

The Canada Startup Visa Program is designed to attract immigrant entrepreneurs who have innovative business ideas and the potential to create jobs for Canadians. The Canada Start-Up Visa Program enables foreign entrepreneurs to attain permanent residency in Canada by launching innovative businesses. Within 3 to 6 months, successful applicants and their families can relocate to Canada, and they can obtain permanent residency within 2.5 to 3 years. This program is designed for entrepreneurs who receive support from Canadian designated organizations such as incubators, angel investor groups, or venture capital funds. It allows up to five business partners to participate in the same start-up as long as they meet specific requirements.


Advantages of SUV:

• • Open Work Permit: If an entrepreneur has already applied for permanent residence through the Start-Up Visa Program, they may be eligible for a work permit while waiting. The business must demonstrate significant economic benefit to Canada.
  • Get Direct Permanent Residency in Canada:
  • Quality of Life: Consistently high rankings for quality of life, healthcare, and education.
  • Diverse Workforce: Access to a highly-skilled, multicultural workforce.
  • Access to a Global Market: Canada provides a strategic location for international business expansion.

Requirements for a Canada Startup Visa:

1. Qualifying Business: Your startup must be Scalable, Innovative and have the potential to create jobs for Canadians.
2. Letter of Support: To apply for the Start-up Visa, you need to secure a letter of support from a designated organization in Canada. These organizations include business incubators, angel investor groups, and venture capital firms. Pitch your business idea to them, and if they believe in its viability, they will provide the necessary support.
3. Voting Rights: Individually, you should hold at least 10% voting rights in the company alongside the designated organization. Collectively, you and the organization must possess over 50% of voting rights.
4. Active Management: Actively manage the business, with core operations based in Canada during and after the application process.
5. Language Proficiency: Meet language proficiency requirements at Canadian Language Benchmark (CLB) level 5 in either English or French.
6. Settlement Funds:

Step-by-Step Process:

Step-by-step process for the Canada Start-Up Visa (SUV) program. This program is designed to attract immigrant entrepreneurs who want to establish innovative businesses in Canada. Here are the key steps:

1. Develop Your Business Idea and Create a Business Plan:
   • • Start by developing a solid business idea. Consider the market, your product or service, and how it aligns with Canadian needs.
     • Create a detailed business plan that outlines your business model, target audience, marketing strategy, financial projections, and growth plans.
2. Letter of Commitment/ Letter of Support from a Designated Organization:
   • • Research and identify a designated organization in Canada. These organizations include venture capital funds, angel investor groups, and business incubators.
     • Pitch your business idea to the designated organization. If they find your start-up promising, they will provide a letter of support.
       
       
3. Documentation:
   • Gather all required documents:
     • Digital forms (filled out online):
       • Generic Application Form for Canada (IMM 0008)
       • Schedule A – Background/Declaration (IMM 5669)
       • Additional Family Information (IMM 5406)
       • Supplementary Information - Your travels (IMM 5562)
     • PDF forms (print, complete, and upload):
       • Document Checklist [IMM 5760]
       • Schedule 13 – Business Immigration Programs – Start Up Business [IMM 0008 SCHEDULE 13]
       • Statutory Declaration of Common-law Union [IMM 5409] (if applicable)
       • Separation Declaration for Minors Travelling to Canada [IMM 5604] (if applicable)
       • Use of a Representative [IMM 5476] (if appointing an immigration representative)
         
         
4. Apply Online:
   • • • As of October 14, 2022, applying online is mandatory. Create a Permanent Residence online application portal account.
       • Follow the instructions in the Instruction Guide (IMM 5759) to complete the forms accurately.
       • Ensure you include all required documents, language test results, and proof of payment for processing fees.
         
         
5. Biometrics (Fingerprints and Photo):

Most applicants need to provide biometrics (fingerprints and photo) after applying. Learn about the new biometrics process.

1. Interview and Evaluation Process:
   1. If required, you may be invited for an interview to discuss your business plan and intentions.
   2. The immigration authorities will evaluate your application based on various factors, including your business experience, financial capacity, and language proficiency.
      
      
2. Receive a Letter of Support and Apply for a Work Permit:

Once the designated organization provides a positive assessment, you’ll receive a letter of support.

• • • Apply for a work permit while waiting for your permanent residence application to be processed.

Remember, the Start-Up Visa Program offers a pathway to permanent residency in Canada. If you have any specific questions or need further assistance, feel free to get in touch with our expert.

Our Expertise with Startup Visa Program

Welkin Migration specializes in Canadian immigration and has a proven track record of successfully assisting entrepreneurs with their SUV applications. Our team of experienced consultants understands the nuances of the program, ensuring that your application is handled efficiently.

Designated organizations play a crucial role in the SUV process. We have established relationships with these organizations and can connect you to the right one. We’ll guide you through the process of obtaining a letter of support from a designated organization.

• Common Questions from IRCC: Expertise and Experience: Be prepared to answer questions such as:
  
  
  • What steps have you taken to establish your business in Canada?
  • How has the Designated Organization contributed to your start-up?
  • Do you have a solid plan for business success?
  • Provide details about your product development roadmap, progress, and budget.
  • Explain why Canada was chosen as your business location.
  • Describe critical aspects of your business operations in Canada.
  • Share information about your founding partners.
  • Justify the urgency of your presence in Canada.

Canada Start-Up Visa Program: Success Ratio

Welkin Migration has 100% success ration on Canada Startup Visa applications however according to the most recent data from Immigration, Refugees and Citizenship Canada (IRCC), the approval rate for permanent residence applications under the Start-Up Visa program stands at 77.2%. This data covers the period from January 2023 to November 2023. During this time, the IRCC processed a total of 3,334 applications for permanent residency, out of which 2,577 were approved. Additionally, there were 267 applications that were voluntarily withdrawn, and 490 applications that were refused.

In summary, the Start-Up Visa program demonstrates a commendable success rate, exceeding 77%. Notably, our team achieved a remarkable 100% success rate in 2023