Canada is a good place for ambitious business owners, entrepreneurs, and investors who want to grow their businesses around the world. Canada is a great place for entrepreneurs who want to grow their businesses around the world because of its strategic location, skilled workforce, and access to the U.S. market.
In the past few years, a lot of foreign investors and business owners have moved to Canada by using one of the many ways to get a Canada business visa. The Canada Start up Visa program is the only one that has always been getting stronger.
The current Canada Startup Visa is one of the most expedited routes to obtaining permanent residency in Canada. The following are the requirements for a startup visa in Canada:
The four steps to obtaining a PR through the Canada Startup Visa Program are as follows:
Step 1: First get a letter of recommendation from a recognized organization
A letter of support from a designated Canadian-based investor is required. The letter serves as proof that the organization will fund your idea and assist you in establishing your firm in Canada.
The bare minimum you must obtain for your startup is:
Step 2: Comply with the language requirement
You must demonstrate your English or French speaking ability to the Immigration, Refugees, and Citizenship Service. It means you must take an approved language test administered by a designated agency and obtain a CLB 5 or above.
Step 3: Requirements for business ownership
To apply for a Startup Visa Canada, you must have a qualifying business. Your company must have at least five owners at the time of application. Each applicant must own at least 10% of the voting rights. Furthermore, applicants and the authorized organization hold more than half of the company.
Step 4: Bring enough money to settle in Canada.
Since the Canadian government does not provide financial assistance to startup visa recipients, make sure you have enough money to settle. You’ll need to show that you have enough money to sustain yourself and your dependents after you arrive in Canada.
The settlement amount is described below:
|Number of Family Members||Funds Required (in CAD)|
For each additional family member
The Canada Startup Visa differs from the Canada Self-Employed Visa because it does not require a minimum investment. However, you must have sufficient funds to settle in Canada.
The processing period for a Canada Startup visa varies by instance; however, the average documentation and processing time is 6-12 months. Furthermore, depending on the case, the immigration authorities’ processing time can range from 12 to 18 months.
Canada Startup Visa Fees
If you meet all of the aforementioned standards, your application will be processed within 12 to 18 months. The following is a breakdown of the processing time for each stage:
Abhinav Immigration Services can assist you and your team in realizing your dream of obtaining a Canada Startup Visa. We have extensive experience representing clients on business immigration platforms and assisting them in achieving success in Canada. With our hassle-free immigration services, you can concentrate on establishing your business in Canada and relocating to your desired location. So, prepare to take the next best step in your journey by contacting us to organize your free consultation.
Q2. How can I apply for a Startup Visa to Canada from India?
You can apply for a startup visa after obtaining a letter of support from the authorized investment body, acquiring financing from these entities, and establishing your firm in Canada. The processing period for a start-up visa in Canada is substantially shorter than that of other entrepreneur programs, which typically take 12 to 15 months. You can submit the application to the immigration authority by submitting all necessary documents.
Q3. How much money do I need to invest in order to obtain a Business Visa in Canada?
If you choose a Venture capital fund as your investment vehicle, you must obtain a letter of support and a CAD 200,000 investment with the help of your business plan in order to get a startup visa. A minimum investment of CAD 75,000 is required from the Angel investor group. Surprisingly, you do not need to obtain financing under the Business incubator program, but you do require clearance from the body under the Canada Startup Visa.
Q4. How do I establish my own business in Canada?
People frequently seek the assistance of business visa advisors due to their ignorance regarding what is a start-up visa Canada. Furthermore, the startup visa procedure is simplified from inception through documentation to a successful PR grant. Furthermore, with the help of their networks and associations with investment authorities, these consultants can assist you in establishing your own business in Canada. These recognized bodies give all strategic support and networking to help your company in establishing itself in the country.