Are you an entrepreneur with innovative and marketable business ideas, then you can immigrate to Canada using the Canada Start-Up Visa Program.
Canada as a country is currently offering talented and innovative entrepreneurs with marketable business ideas that would contribute to the development of the country’s economy as well as creating employment opportunities for its residents.
Before an entrepreneur is considered for the offer, he needs to prove and demonstrate that his business will helps in thriving the country’s economy and provide new job opportunities.
Requirements for Application for the Canada Start Up Visa Program
In order to be eligible for Canada Start-Up Visa Program, there are four basic requirements that must be met which are;
- A prove by letter of support by a designated organization to show that your business is supported. This can be from investors group, business incubators, and Canadian venture capital firms
- You need to show that your designated organizations hold a minimum of 50% voting rights in the shares of the company
- You must provide prove that you meet the language requirement of the country. This can either be English or French Language. You’re required to meet the minimum CLB 5 in speaking, reading, writing, and listening.
- You must prove that you have enough fund to sponsor yourself and any other dependents once you move into the country.
List of Designated Organizations
Here’s a list of designated organization that could help you in getting approval for your start-up visa application. You’re required to contact them by pitching your business ideas and convincing them to invest in your business
- Venture Capital Funds
- Angel Investor Groups
- Business Incubators
How to Apply for Start-Up Visa
- Fill out the application form
- Print out the form after complete validation
- Sign and date the form appropriately
- Gather all required document as listed here
- Place all necessary documents and form in a sealed envelope
- Print and sign the document check list; use it as your application cover page
- Pay your application fees (including processing and right of residence fee)
- Submit your application
- For application for the Canada Start-Up Visa Program, you need to pay $1575 for Business Immigration Application fee and $500 for Right of Permanent Residence. In total, you need to pay a fee of $2,075 which can paid here
- If you have a spouse, then you need to pay $825 as Application fee and $500 for Right of Permanent Residence which makes it a total of $1325. You’re required to add $255 for each dependent child you want to immigrate with.
Processing Time for Canada Start-Up Visa
As at the time of writing this piece, the processing time for Canada Start-Up Visa Program is between 12 and 16 months.