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Comprehensive Details about Canadian Start-Up Visa Program

April 2020, 07
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Comprehensive Details about Canadian Start-Up Visa Program
Canadian Start-Up Visa Program

Canadian Start-Up Visa Program grants Canadian PR to eligible immigrant entrepreneurs. It is formally known as the Canadian Start-Up Class. But it is broadly noted as Canadian the Start-Up Visa program (SUV).

The program aims at innovative entrepreneurs and connects them with private sector investors in Canada who are ready to help in establishing their start-up business in Canada.

Applicants can originally come to Canada with a work permit assisted by their preferred Canada-based investor, prior to qualifying for Canada PR once their business is running.

There are 3 types of private-sector investors:

  1. Angel investors
  2. Venture capital fund investors
  3. Business incubator investors

Originally a 3-year pilot, this program was made permanent on 31 March 2018.

Candidate Eligibility Criteria

The primary candidate eligibility Criteria for the Canadian Start-Up Visa are:

  • Qualifying business
  • Dedication Certificate and Support Letter from an authorized entity
  • Adequate unencumbered, accessible and transferable settlement funds
  • Skill in English or French at a minimum of level 5 Canadian Language Benchmark 

Start-Up Visa Business Ownership Criteria

For the applicant to qualify for Canada PR: 

  • The proposed business must be included and carrying on business in Canada
  • The applicant must own a minimum of 10% of the voting rights in the corporation
  • No other individual can hold 50% or higher of the voting rights in the corporation

Candidates Qualification for a Work Permit (OR) Canadian PR

For a work permit:

Applicants with a Dedication Certificate from an authorized entity can appeal for a short-term work permit to start working in the business. The authorized entity needs to support the request.

For Canada PR:

  • Applicants should be actively engaged in business management in Canada
  • The business operations, or a primary part, should take place in Canada
  • The business needs to be included in Canada

Time for the Entire Process

If an entrepreneur has a proper start-up business project, it will take approximately 4-6 months to achieve a commitment certificate or support letter from an authorized entity. Once the support letter is received, the application for Canada PR can be provided. It will take around 18-months to achieve the application to final visa issuance.

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