Entrepreneur Visa In Canada
You might have been browsing the internet for information about “Entrepreneur Visa In Canada” and still confused, you are the right place. Get comprehensive and clear information about this industry by expert. We have years of experience in this field.The Entrepreneur Visa is the entrepreneur’s diploma in business administration. The Canadian program has various unique features for people who wish to pursue the life of an entrepreneur in Canada. Since it is a residence visa, it does not grant Canadian nationality to entrepreneurs.The Canadian government has recently introduced a great option for immigrants who want to start their business in the country. It allows you to get a work visa if you have enough money and have a business idea to move forward with. This entrepreneur visa is also referred to as the Immigrant Investor Program. Although it is not about doing business in Canada, it is important that you should choose this program due to some reasons.
Entrepreneur Visa In Canada
The entrepreneur visa program is one of the most talked about programs to get permanent residency in Canada. Because it was first introduced as a pilot project, it is not yet officially a permanent program for several years now. However, the government has been clear about this often and despite this not being official, many applicants continue taking advantage of this program and succeed. There is no doubt that the entrepreneur visa program, also commonly referred to as the “start-up visa” or “entrepreneur visa” was designed with startup entrepreneurs in mind because its goals are to boost entrepreneurship in Canada, make good use of immigrants’ energies and ideas, and bring them to make their dreams come true.
Canada Start-Up Visa (SUV)
If you are an entrepreneur with an innovative business idea, you may be eligible to immigrate to Canada through the start-up visa program.
Canada is looking for talented entrepreneurs that are interested in starting businesses that will stimulate the Canadian economy while creating employment opportunities for its residents.
Read on for everything you need to know about Canada’s start-up visa program, including a step-by-step guide to the application process.
- What is the start-up visa program?
- What are the requirements for Canada’s start-up visa?
- Designated organizations for start-up visa
- List of designated organizations
- How to apply for a start-up visa
- What is the processing time for Canada’s start-up visa?
What is the start-up visa program?
Canada’s start-up visa program gives entrepreneurs the opportunity to immigrate to Canada in order to establish a new business. Immigrant entrepreneurs must demonstrate that their business is innovative, will create new jobs for Canadians, and can compete on a global scale.
What are the requirements for Canada’s start-up visa?
There are four requirements you need to meet in order to be eligible for a Canadian start-up visa:
- Have a qualifying business:
- You must hold at least 10% of the voting rights attached to all shares of the company
- Together with the designated organization, you must hold at least 50% of the voting rights attached to all shares of the company
- Have a letter of support from a designated organization:
- You need to demonstrate that you have the support of a venture capital fund, angel investor group, or business incubator
- In order to do this, you must pitch your business idea and convince the organization that it is worth supporting
- The process of pitching your business idea will be different for each organization
- If your pitch is successful, you will receive a letter of support from the organization which must be included in your start-up visa application
- Meet the language requirements:
- You must take a language test from an approved agency and show that you meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in speaking, reading, listening, and writing.
- Proof of funds:
- You need to show that you have enough money to support yourself and any dependents once you arrive in Canada. The amount you need depends on the size of your family.
Show 102550100 entriesSearch:
| Number of family members | Funds required (in Canadian dollars) |
|---|---|
| 1 | $12,960 |
| 2 | $16,135 |
| 3 | $19,836 |
| 4 | $24,083 |
| 5 | $27,315 |
| 6 | $30,806 |
| 7 | $34,299 |
| For each additional family member | $3,492 |
Showing 1 to 7 of 7 entries
Designated organizations for start-up visa
As part of the eligibility requirements, you will need to provide proof (Commitment Certificate and Letter of Support) that your business is in fact supported by a designated organization. These documents will cover the relevant details of your arrangement with one or multiple designated organizations, and are paramount to your startup visa application. Unlike federal and provincial investor programs, where applicants must invest their own capital, no investment of their own funds will be required.
Instead, those who meet the eligibility requirements must secure a minimum of $75,000 from a Canadian angel investor, or a minimum of $200,000 from a Canadian venture capital fund recognized by the government of Canada. If the applicant is accepted into a recognized Canadian business incubator, no investment capital is required.
List of designated organizations
Venture capital funds
Angel investor groups
Business incubators
How to apply for a start-up visa
- Fill out the application form:
- Fill out the Generic Application Form for Canada
- Click the “Validate” button on the form, and make sure that you have completed all required fields
- Print the validated application form, making sure to include the barcode page
- Sign and date the form
- Complete the document checklist
- Gather all documents listed in the order specified in the document checklist
- Place all necessary documents in a sealed envelope
- Print out the document checklist and sign it
- Include the document checklist as the cover page of your application
- Pay your application fees
- Application fees include processing fees for you and anyone included on your application
- Right of permanent residence fee
- Third-party fees including fees for medical exams, police certificates, and language testing
- Biometrics fees:Show 102550100 entriesSearch:Type of ApplicantCostIndividual applicants$85 CADFamilies applying togetherMaximum total fee of $170 CADGroups of 3 or more performing artists and their staffMaximum total fee of $255 CADShowing 1 to 3 of 3 entriesPreviousNext
- Submit your application
- Before submitting your application, ensure that it is complete
- Make sure you have signed all forms
- Pay your processing fees and include receipts in your application
- Include all supporting documents
What is the processing time for Canadas start-up visa
The current processing time for the start-up visa is between 12 and 16 months.