Canada Startup visa program is a visa work permit that enables visitors to stay in Canada while they wait for their permanent residency application to be approved. To be eligible to apply, you must provide a letter of support from the approved organization. This will allow you to come to Canada, begin building up your firm, and demonstrate to Immigration Canada that you are actively pursuing your business start-up here in Canada and helping to expand their economy. Moreover, you can come along with your family.
Canada Startup Visa Requirements:
To be eligible for the Start-Up Visa Program, you must:
- Possess a legitimate business.
- Have an organization’s letter of support
- Meet the language requirements
- Bring enough cash to cover your expenses & settle
Possess a legitimate business
When you get a commitment from a designated organization, you can include up to 5 applicants on the business application. Each candidate must own at least ten percent of the company’s stock. It’s also a requirement that you and the designated organization jointly own at least 50% of the prospective business’s shares (or the existing business in Canada).
Also, when you become a permanent resident, you must continue to administer your business from within Canada. In addition, a significant portion of the company’s operations must take place in Canada. Incorporation in Canada is a need for every company.
Have an organization’s letter of support
An authorized Canadian group or organization must assist your firm. For the same, Angel investors are individuals or companies interested in helping your Canadian-based business.
Meet the language requirements
In the Language requirement, you must show that you can meet Canadian Language Benchmark (CLB) Level 5, which is considered intermediate English or French. You must do this through an approved English exam (IELTS or CELPIP). Also, you must provide original language results with your application to show that you meet these requirements.
Bring enough cash to cover your expenses & settle
Permanent Residency requires a settlement deposit of roughly $13,000 CAD for an individual application. Adding more family members will increase this amount. So, if you’re applying for a Startup Visa Work Permit, you’ll have to pay an additional fee. In conclusion, the settlement funds will more than double.
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Requirements for the Compensation/settlement Fund:
Only 1 Family Member = $12,960 (BDT 8,42400)
For 2 Family Members = $16,135
Also, For 3 Family Members = $19,836
For each additional family members: $3,492
Other Requirements for Canada Startup visa:
- You must demonstrate that you intend to conduct the business in Canada.
- Immigration Canada You may also request proof of experience in the business area from the founders, such as updated company plans, market validation, letters of support, and so on.
- In 2019, the SUV class was made permanent as a separate programme. Since the programme was made permanent, Immigration Canada like to see evidence that you’ve made an attempt to establish your business in Canada.
- Applicants apply for the Canada Startup Visa Work permit as part of the process.
- Along with your application, you must submit a police clearance certificate. This is for the entire family, not just you.
- There is a limit of five people on your application at any one time. Everyone is allowed to bring their spouse/common-law partner, as well as all children under the age of 21.
Visa Application and Work Permit Processing Time:
The processing times for PR under the Sart up visa class take anywhere from 12-16 months. Also, permit applications are generally accepted in two months or less.
How to apply?
1. Get the application package:
- Fill out the application form
- Generic Application Form for Canada [IMM 0008]
- Complete the document checklist
- Attach all of the documents with your application.
2. Pay your application fees:
- Starting from: $2,075
- Biometrics fee: $85 per person
3. Third-party fees:
- Any Medical fees
- Police certificate fees
- Language test fee
4. Submit your application:
Mailing instructions
To find out where to send your application, go to the guidelines provided below.
- Put the completed forms, supporting documents, and fee payment in a 23 cm x 30.5 cm (9″ x 12″) envelope.
- Then, send your completed application to the following address.
- Please write ”Startup business visa” on the outside of the envelope for better unferstanding.
Recipient (In the center of the envelope)
Immigration, Refugees and Citizenship Canada
Centralized Intake Office – Start-Up Business Class
P.O. BOX 8700
Sydney, NS B1P 0G2, Canada
We believe, as in today’s world, a startup is something that is changing the world. For the same, Canada is also encouraging them through the Canada startup visa program. Finally, If you are really interested, join and start your journey from today. Best of luck.
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