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 Canadian startup visa is one of the quickest pathways to securing permanent residency in Canada. Canada startup visa requirement is described as follows:
Below are the four steps to get your Canadian PR through the startup visa program:
Step 1: Get your letter of support from a designated organization
You must obtain a letter of support from a designated Canadian-based investor. The letter acts as evidence that the organization will fund your idea and provide support to establish your business in Canada.
The minimum amount you must get for your startup is:
Step 2: Meet the language requirement
You must demonstrate the Immigration, Refugees, and Citizenship your ability to speak either English or French language. It means you must undergo an approved language test from a designated agency and score at least CLB 5 or above.
Step 3: Business ownership requirements
You must have a qualifying business to apply for a startup visa in Canada. For this, your business has at least five owners at the time of application submission. Each applicant must hold at least 10% or more of the voting rights. And, applicants and the designated organization jointly have more than 50% of the ownership.
Step 4: Bring sufficient money to settle in Canada
Since the government of Canada does not provide financial support to startup visa beneficiaries, make sure you bring enough money to settle. You'll need to demonstrate that you have sufficient funds to support yourself and your dependents after arriving in Canada.
The settlement amount is described below:
|Number of Family Members||Funds Required (in CAD)|
For each additional family member
The startup visa is different from the Canada self-employed program because the former does not require minimum investment. However, you must have enough money to settle in Canada.
Canada startup visa processing time can differ from case to case: however, the average documentation and process time will take around 6-12 months. Furthermore, considering the immigration authorities' processing time, it can take a total of 12 to 18 months, depending on the case.
What is the Canada Startup Visa fees?
If you meet all requirements mentioned above, your application will be processed around 12 to 18 months. Here's is the breakdown of processing time for each stage:
Letter of Support from a designated organization in Canada
Abhinav Immigration Services can help you and your team realize your Canadian startup visa dream. We have a rich experience in representing our clients on business immigration platforms and helping them succeed in Canada. With our hassle-free immigration services, you can focus on establishing your business in Canada and relocate to your dream destination. So, get ready to take the next best step in your journey; give us a call to book your free consultation with us.
Q1. How do I get a Canadian Startup Visa?
You can achieve Canada Startup Visa by following the step-by-step process of the program. First, you need to have a unique business plan that can generate revenue and employment in Canada, then acquire a letter of support and investment from the investment bodies with your business plan, set up a business in Canada on a temporary residency permit, and apply for permanent residency under start-up visa.
Q2. How can I apply for Canada Startup Visa from India?
You can apply for a startup visa once you have successfully attained a letter of support from the designated investment body, acquired investment from these bodies, and established your business in Canada. The Canada start-up visa processing time is much quicker than other entrepreneur programs, which clock at 12 to 15 months. You can submit the application by supporting all the relevant documents to the immigration authority.
Q3. How much do I need to invest to get a Business Visa in Canada?
If you choose the investment body of a Venture capital fund, you need to acquire a letter of support and an investment of CAD 200,000 with the help of your business plan for a startup visa. From the Angel investor group, you need a minimum investment of CAD 75,000. Interestingly, under the Business incubator program, you do not need to acquire investment but need approval from the body under the Canada Startup Visa.
Q4. How do I open my own startup in Canada?
Considering the confusion about what is start-up visa Canada, people often seek the help of business visa consultants. And, it becomes easy for the startup visa process from inception, documentation to successful PR grant. And, these consultants can help you set up your own startup in Canada with the help of their networks and association with the investment bodies. These designated bodies provide all the strategic support and networking to help establish your business in the country.
Q5. How much money do you need to show for your Canada visa?
Start Up Visa Canada program guidelines does not require you to demonstrate minimum net-worth. However, you must show minimum settlement funds to support your initial stay in the country. Below is the minimum funds required:
|Number of Family Members||Funds Required|
|For each additional family member||CAD 3,560|