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Start-up Visa Program in Canada seeks immigrant entrepreneurs with the potential and skills to establish businesses in Canada that are:
innovative
capable of creating jobs for Canadians
should compete on a global scale
This article is all about what you want to know about the start-up visa program in Canada. Keep on reading to know the step-by-step procedure.
What are the Eligibility Requirements for a Canadian Start-up Visa?
To be eligible for a Canadian start-up visa, you must meet the following four requirements:Own a qualifying business:
You must own at least 10% of the voting rights associated with all of the company's shares.
Both you and the designated organization must hold at least 50% of the voting rights associated with all of the company's shares.
Obtain a letter of recommendation from a designated firm:
You should show that you have the support of a venture capital fund, a business incubator, or an angel investor group.
To do so, you should pitch your business idea and persuade the firm that it is worth supporting.
The process of pitching your business idea will differ depending on the firm.
If your pitch is successful, you would get a letter of support from the firm, which should be added to your start-up visa application.
Fulfill the language requirements:
You must attend a language test from an approved organization and let them know that you meet the minimum level of the Canadian Language Benchmark (CLB) 5 in reading, speaking, listening, and writing in either English or French
Proof of finances:
You must show that you have sufficient funds to maintain yourself and any dependents after you arrive in Canada. The amount you required would be as per the size of your household.
How Can You Apply for a Startup Visa?
Check out the step-by-step application process for a startup visa right below:Complete the application form:
Fill out the Canadian Generic Application Form.
On the form, click the "Validate" button after filling out all required fields.
Print the verified application form along with the barcode page.
Sign the form with the appropriate date.
Fulfill the document checklist:
Compile all required papers given in the order mentioned in the document checklist
Put all required documents in a sealed envelope.
Print out and sign the document checklist.
Make the document checklist on your application's cover page.
Make the payment of your application fees:
Application fees constitute processing fees for both you and anybody else listed on your application.
Third-party fees consist of fees for medical examinations, language tests, and police certifications.
Right of permanent residence fee.
Biometrics fees.
Send your application:
Check that your application is complete before submitting it.
Ensure that you have signed all forms.
Pay your processing costs and add receipts with your application.
Append all supporting papers.
Place all documents in a 9" x 12" envelope, label it "start-up visa," and mail it to the right address.
Other Details of Canadian Startup Visa
To get the eligibility to go to Canada, you should fulfill the admissibility requirements to enter Canada. These apply to all candidates, not only those applying for the Start-up Visa Program. When it comes to the current processing time for a Canadian startup visa, it is between 12 and 16 months.
How Can We Support You?
Winx Canadian Immigration Consultancy aims at helping lawyers, entrepreneurs, and legal consultants with quality startup visa services after and before the letter of support. We are one of the most reliable Canadian immigration agencies that attract foreign entrepreneurs who want to set up new or grow businesses in Canada.
