Can I get Canada PR Visa -The Canada Start Up Visa Program?
We’ll tell you how the Canada Start-Up Visa program can help your business get started. Do you have a project or idea that you would like to bring to Canada?
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Read On!
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If you are an entrepreneur and have a great idea for your new business, then you may be eligible for the Canada Start-Up Visa Program. This program is designed to promote entrepreneurship through immigration opportunities by providing expedited processing, lower cost of living, and an entrepreneurial visa option.
What Is Canada Start-Up Visa?
Qualified immigrant entrepreneurs can apply for permanent residency in Canada through the Start-Up Visa Program. The Canada Start-Up visa is the name given to it formally. But the Start-Up Visa program is the name given to it most often (SUV).
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The initiative seeks out creative business owners and connects them with Canadian investors from the private sector who will aid in the establishment of their start-up company.
Before becoming eligible for permanent residency after their business is operational, candidates can initially enter Canada on a work permit funded by their chosen Canadian investor.
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Three different categories of private sector investors exist
- Angel financiers.
- Fund for venture funding.
- Enterprise incubator.
Eligibility Requirements For Canada Start-Up Visa For 2023
Canadian Immigration’s requirements for a Canada entrepreneur visa applying for Canada PR under the SUV program are as follows:
- Foreign nationals must get a letter of support from one of the designated organizations in Canada or an investment promise from them.
- Each foreign national must hold 10% or more of the company’s initial stock. Foreign nationals must jointly own more than 50% of the total shares in the startup company with their designated organization.
- The applicant must be at least CLB level 5 proficient in either French or English.
- The applicant must have sufficient cash to settle in Canada, which ranges between $ 13,000 and $35,000 depending on the applicant’s family size.
For this program to be successful, entrepreneurs must also fulfil the following prerequisites:
- Ownership of a cutting-edge or fruitful company with solid market validation or income that is scalable and sustainable;
- The ability to raise money to launch your business, typically starting at $200,000 per applicant;
- Possess unique expertise in your field, possess highly specialized knowledge, or possess extensive managerial experience; and
- Possess upper-intermediate English and/or French language proficiency (s).
Canada Business Immigration Programs!
In addition to the Start-Up Visa program, there are several business immigration options in Canada that entrepreneurs can use to relocate there. You can specifically look at the Canada entrepreneur visa, Intra-Company Transfer Program, Self-Employed Category, or even the LMIA Pathway (formerly Owner-Operator LMIA).
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Criteria | Start-Up Visa | C11 Work Permit for Entrepreneur | Intra- Company Transfer Program | Self-Employed Category | LMIA Pathway |
| Business Idea | Innovative, highly scalable and high revenue-generating business | Unique businesses that will create jobs stimulate the economy or transfer knowledge or skills to Canadians | Entrepreneurs who have successful companies in their home country can set up similar operations in Canada | Self-employed businesses in certain creative professions related to art, culture & sport | Small or medium businesses in Canada (can be convenience stores, cafes, restaurants, salons etc.) |
| Ownership Structure | At least 10% | At least 50% | In Canada, companies must be owned by foreign companies or by similar groups of individuals | 100% | At least 50% |
| Minimum Investment | Investment in business: around $200,000 | A minimum of $100K+ is needed for entrepreneurs, depending on their business | A minimum of $100K+ is needed for entrepreneurs, depending on their business | Applicants should have access to at least $50K+ | Cost of business purchase (usually $100K+) |
| Language Skills | CBL 5 | No Need | No Need | Not Required, but recommended CBL 5 | Not Required |
| Timeframes for Relocation (Work permit) | Generally takes 3-6 months | 3-6 months | Generally, 3-6 months | Timeframes for relocation (Work permit) | Stage 1: LMIA: 3+ months Stage 2: Work permit: usually 3-6 months |
| Timeframe for Permanent Residence | Current processing time: 3+ years | Using Express Entry pathway after 1 year: 8 months -1 year (2+ years in total) | Using Express Entry pathway after 1 year: 8 months -1 year (2+ years in total) | 2- 4 years | Using Express Entry pathway: 8 months -1 year |
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You can reach us at the mentioned contact information if you have any questions or concerns.
Documents Required For Canada Start-Up Visa
- Certified copy of passport
- Evidence of language skills
- Letter of support of designated entity
- Birth Certificate (if applicable)
- Marriage Certificate (if applicable)
- Certified copy of ID Card
- Evidence of Residential Address
- Affidavit of support for Dependents
- Original Police Clearance Certificate
- Two passport-size photos
- Bank Statement
- Original Bank Reference Letter (Not older than 6 months)
- Proof of net wealth
- Statement of Source of Funds
- Medical Certificate
Now Is The Time For Your Next Step!
With our knowledgeable staff and best migration consultant, we have handled a wide range of matters for clients from diverse walks of life. Let us help you begin your family’s journey to Canada. We’re always just a phone call or click away.
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