Canada Start-Up Visa: for budding entrepreneurs

Canada Start-Up Visa Program is an excellent method through which creative entrepreneurs can acquire eligibility for Canadian immigration. Skilled business people interested in starting their own business in Canada can immigrate through Canada quite effortlessly through Canada Start-up Visa.  

Canada looks forward to welcoming such talented and skilled business-minded people so that they can contribute significantly contribute to the Canadian economy. They can also provide employment opportunities to other aspiring individuals.  

Canada Start-Up Visa- its eligibility 

If you’re a budding entrepreneur and would like to start your own business in Canada, you might start by checking your eligibility for the Start-Up visa. Additionally, make sure you fulfill the general requirements for admissibility to Canada.

To attain eligibility under the Start-Up Visa program, you will need to become eligible for the following: 

1. Your business must qualify for all essential criteria 

• Your voting rights must account for at least 10 percent of all the company shares. 
• Combined with your designated organization, you must possess at least 50 percent of voting rights including all company shares. 

2. You must receive a letter of support through a designated organization 

• It is essential for you to provide proof regarding the support you receive from a venture capital fund, business incubator, and angel investor group.  
• To receive support from the above group of people, you must convince them of your business idea.  
• Every organization will implement your business idea in its unique ways. However, if you successfully convince the organization of your innovative business strategy, you will receive a letter of support from the respective organization. Once you get the support letter, you must include it in your application.  

3. Fulfilling the language requirements 

• The next step will be to demonstrate your language skills in either French or English by qualifying for an approved language test. The test must be from an approved agency and cater to all language aspects, including reading, writing, speaking, and listening. The candidate will have to meet the Canadian Language Benchmark of 5.  

4. Funding proof required 

• As an aspiring entrepreneur seeking an opportunity in Canada, make sure you provide adequate financial proof in the form of funds. This fund proof will demonstrate your potential to support yourself and your dependent’s basic requirements.  

Start-Up Visa- designated organizations 

A commitment certificate and support letter are essential documents depicting the support your business would get from a designated organization. Additionally, these documents will include all crucial details of the collaboration with one or more established organizations. Aspiring candidates won’t have to invest funds as opposed to other federal or provincial investor programs for this program.  

Additionally, the candidates who fulfill all eligibility criteria must possess a minimum saving of $75,000 from a Canadian angel investor, or $200,000 from a Canadian venture capital fund. Canadian business incubator category doesn’t demand any investment. 

Canada Start-Up Visa- application process 

Once you’re done checking your eligibility for this visa, you can proceed with the application process. Though it might appear tedious and confusing to you, following the detailed process will certainly help you achieve success with your application.  

The application procedure for the Start-Up Visa program includes the following steps: 

Fill the complete application form 

• Fill out the standard application form for Canada. 
• Make sure to complete the form by filling in all the essentially required fields. Go ahead and click the “validate” option. 
• Take a printout of the validated application form and ensure to include the barcode page. 
• Also, include a date and signature on the form. 

Document checklist 

• Arrange all your documents according to the given order of the document checklist.  
• Enclose all essential documents in an envelope. 
• Take a printout of all documents and make sure you sign them. 
• Use the document checklist as a cover page for your application. 

Application fee 

• Application fee implies the processing fee for the principal applicant and others included in the application. 
• Right of permanent residence fee 
• Fees for a medical exam, language test, and police certificate.  
• Biometric fees. 

Application submission- the final step 

• The final step is to submit the application but before that your application is complete. 
• Ensure to put a signature on all your forms. 
• Make sure you pay the processing fee and attach the receipts with your application. 
• All essential supporting documents must be available.  

Use an envelope with the size “9X12” for all your documents and name that envelope as “Start-Up Visa.” Finally, mail it to the appropriate address. Also, remember that it would take at least 12 to 16 months to process the Start-Up Visa application.