Immigration Lawyer

Startup Visa Program

Immigration Lawyer

Start-up Visa Program

Canada’s Start-up Visa program provides a pathway for immigrant entrepreneurs with the skills and potential to start businesses in Canada. This program is designed to support newcomers in bringing innovative business ideas to Canada. New businesses created through this program are expected to generate jobs for Canadians and compete globally.

Through the Start-up Visa program, individuals have the opportunity to gain permanent residency. They receive support for their businesses from designated organizations such as venture capital firms, angel investors, and business incubators. This support, which includes funding, mentorship, and guidance, enables entrepreneurs to build a long-term future and thrive in the Canadian market.

What are the eligibility criteria?

To be eligible for the start-up Visa program in Canada you must have:

1. A qualifying business requirement

The applicant must have 10% of the total voting rights in the business when they receive the commitment from a designated organization.
Together with the designated organization the applicant must hold more than 50% of voting rights.

Please note: If the application is successful, the essential parts of the business must be registered and based in Canada. The applicant must operate the business from within Canada.

2. Support from a designated organization

In the start-up visa program, it is mandatory to secure support and commitment from a designated organization.
You must convince the organization that your business is worth supporting and get a letter from the designated organization.
The designated authority must send a letter or support and Commitment certificate direct to IRCC regarding supporting your business. This is used as an immigration document to validate and evaluate your application.

Please note: In each calendar year only 10 groups are considered per designated organization. Applications are accepted first come first-served basis. If your application is after the annual cap, then both your application and the processing fee will be reimbursed.

3. Language Proficiency

The applicant must achieve a minimum of Canadian benchmark level 5 in French or English in all four areas of listening, speaking, writing and reading.
The language test must be from an approved agency by the IRCC.
The language test must be valid at the time of submitting the application. The results are valid for two years from the date the results are given.

4. Proof of funds

It is compulsory to show proof of sufficient funds to support themselves and their accompanying family.
The amount cannot be borrowed, and it needs to be according to the number of people.
The amount needed is updated every year. The recent update was on June 3, 2024.

Number of Family members	Funds required in CAD
1	$14,690
2	$18,288
3	$22,483
4	$27,297
5	$30,690
6	$34,917
7	$38,875
If there are more than 7 members, then, an additional amount to each family member is	$3,958

Please note: If the applicant is already working in Canada, then they will be exempted from this requirement.

How to apply?

The steps in the application process involves:

Secure support from a designated organization that will support your start-up idea. Obtain a letter of support from the organization to start support for the business.
Meet the requirements for proficiency in language with a minimum score of CLB level 5 for English or French.
Ensure that you have sufficient funds for yourself and your family.
Fill out all the required forms, such as the generic Application Form from Canada and schedule 13 Business Immigration Programs – Start-Up Business.
Gather all the necessary documents supporting your application.
Do the medical and security checks that you and your family members need to go through.
Submit your processing fees and the Right of Permanent Residence free if it is applicable.
Submit the application and wait for the Decision.
If your application is approved, you will receive a Confirmation of permanent Residence (COPR) and a Permanent Resident Visa if applicable.

How can our Immigration Lawyers help?

At Nanda & Associate Lawyers, our experienced immigration lawyers offer personalized immigration assessments throughout the application process. We can identify the best suited immigration program for you based on your needs. Our Immigration Lawyers ensure that all your documents are accurate by minimizing the risk of delays and rejection of your application. To get the trusted advice and understanding the best program for your start-up business connect with us at 905-405-0199 now!

Frequently Asked Questions

If you have additional questions or need further assistance, please don’t hesitate to reach out to us at hello@nanda.ca. We’re here to help!

What is a designated organization?

The designated organization is categorized under:

Venture Capital funds: These funds are invested in a high potential business. To qualify under this, an applicant needs to secure an investment of CAD 200,000 under a designated capital fund.
Angel Investor groups: These organizations provide early-stage capital. For angel investor the minimum investment required is CAD 75,000 from the designated investor
Business incubators: These are organizations that provide resources, mentorship, and guidance to help startups grow. Unlike the other two organisation this does not have any minimum requirement of investment.

What is the processing time for the start-up visa?

The approximate time taken for the processing of start-up visa is 12 moths. However, the processing time vary depending on factors like application volume and other individual circumstances.

Are there any other business immigration programs other than start-up visa programs?

Yes, Canada offers several other business immigration programs in addition to the Start-up Visa Program. These include the Self-Employed Persons Program, Provincial Nominee Programs (PNPs), Quebec Entrepreneur Program, and the Intra-Company Transfer Program.