Canada Federal Start-Up Visa Program
Start-Up Visa, start-up immigration, was officially established on August 1, 2013 by IRCC (Immigration, Refugee and Citizenship Canada), with the participation of NACO (National Angel Capital Organization). Immigration incentives in attracting innovative technology and start-up companies to Canada to complete entrepreneurial projects.
This program is suitable for people who want to immigrate quickly, with loose threshold requirements and can live anywhere in Canada. The combination of many advantages makes this program one of the popular methods of Canadian immigration.
The key to this immigration policy is that your business plan needs to be recognized by a government-designated agency, and a detailed due diligence report is issued, and finally a Letter of Support for immigration application is obtained before entering the immigration application stage.
Government-designated agencies are divided into three categories:
- Venture capital fund: The fund needs to invest at least 200,000 Canadian dollars in SUV project companies
- Angel investment fund: The fund needs to invest at least 75,000 Canadian dollars in SUV project companies
- Business incubator: The incubator needs to approve the SUV project company to enter the incubation plan
- Please note: The immigration application stage cannot proceed without a letter of support from a designated agency
- After obtaining immigration status, you can live anywhere in Canada, such as Toronto, Vancouver, etc. (except Quebec);
- There are no strict requirements for the applicant’s background, and there are no rigid requirements for education, age and business management experience;
- Although there are language requirements, many customers can achieve it after hard work, and IELTS is about 5 points;
- The processing time is short, the federal processing time is about 12-16 months;
- If there are suitable partners, a maximum of 5 applicants can apply for one program at the same time.
You can also refer to other immigration programs in Canada: Immigrate to Canada
The 3 core points of Start-up Visa program:
- can create jobs for Canadians
- can compete on aglobal scale
Requirements for applicants:
1. Have a qualifying business：
When you get a commitment from a designated organization:
- Each applicant holds 10% or more of the equity (voting rights) (up to 5 people can apply to become shareholders), and,
- The applicant and the government-appointed agency jointly hold more than 50% of the equity (voting rights).
When you acquire permanent residence status:
- You are actively and continuously involved in the management of the business in the territory
- is an integral part of the operation of the business in Canada
- The business is registered in Canada
Standard industries for qualifying SUV businesses can be:
- Medical health
- Artificial intelligence
- Education Technology
- Clean tech
- Information Technology
2. Get a letter of support from a designated organization。
The designated agency is key for the government to approve to invest in or support start-up visa projects, including the venture capital fund, angel investor group, or business incubator
3. Other requirements:
- IELTS G 5 (listening 5 speaking 5 reading 4 writing 5), English can be used as a working language
- Quantity: Up to 5 applicants with certain technical or business background
- Each applicant holds more than 10% of the shares
- All applicants and investment funds hold more than 50% of the shares
- Products or services with innovative technologies or ideas and put into practical use can provide proof of intellectual property rights
- The product or service has long-term advantages and competitive barriers in the industry
- Profitability and long-term financial and market growth potential
- global market
- There are good reasons to choose Canada as your residency
- Job creation for Canadians
- and the founder is willing to reside in Canada
It usually takes 12-16 months.
The immigration program processing time is updated weekly. For the latest immigrant visa processing time, please refer to our: Canada Visa Immigration Processing Time List
A: It takes about 3-4 months from receipt of the formally submitted application, subsequent review and issuance of a formal due diligence report until the receipt of the letter of support, depending on the level of cooperation of the client. The government’s SUV application and related immigration procedures take 12-16 months, depending on the time announced on the official website.
A: When the immigration office receives the application, the applicant can apply for a temporary work visa to start the entrepreneurial journey in Canada.
- Global Visa Firm only charges service fees, the fees do not include government fees, translation fees, notarization fees, courier fees and other third-party fees
- The service fee is charged according to the customer’s situation. If the customer’s situation is more complicated, there may be additional fees (refer to customer evaluation)