The Canadian Startup Visa Program is an innovative immigration stream offering international entrepreneurs a pathway to Canada. If you're an entrepreneur with the skills and potential to build businesses that are innovative, can create jobs for Canadians, and can compete globally, this program is for you.
Understanding the Program:
The Startup Visa Program is designed to attract entrepreneurs from around the globe to start businesses in Canada. These businesses must be innovative, create jobs for Canadians, and compete on a global scale. Through this program, entrepreneurs will be granted permanent residence or have it fast-tracked
Eligibility Criteria:
To be eligible for the Startup Visa Program, entrepreneurs must:
- Have a qualifying business: At the time of receiving the permanent residence, you should hold at least 10% of the voting rights attached to all outstanding shares of the business and no other person must hold 50% or more of the total amount of voting rights.
- Get a letter of support from a designated entity: A designated entity is a business group that has been approved to invest in or support potential startups. You will need to get a letter of support from a designated entity to apply to the program.
- Meet the language requirements: The ability to communicate and work in English, French, or both languages will help your business succeed in Canada. You must take a language test from an approved agency and meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all four language areas.
- Bring enough money to settle: The Government of Canada does not provide financial support to Startup Visa immigrants. You must show that you have enough money to support yourself and your dependents after you arrive in Canada. The amount you need depends on the size of your family.
Application Process:
1. Get your business idea or venture ready.
2. Secure a commitment from a designated entity in the form of a letter of support.
3. Once you have a letter of support from a designated entity, apply for permanent residence (if you’re applying from outside Canada).
4. Pay your application fees and submit your application.
5. If your application is approved, prepare to move to Canada (pack your bags, say your goodbyes, and book your flights).
ConsultUP's Role:
At ConsultUP, we support entrepreneurs through every step of this process. From ideation and preparing your business venture to securing a letter of support from a designated entity, we provide comprehensive consultancy services to help your startup thrive.
Our team of experts will guide you in understanding the Canadian market, creating a robust business plan, and navigating the application process. Contact us today and kickstart your entrepreneurial journey in Canada with the Startup Visa Program.
