How does Canada’s Start-up Visa Program work?
As a law firm, our business immigration office has been receiving an increasing number of inquiries about Canada’s Start-up Visa Program. It’s no surprise that entrepreneurs from around the world are drawn to Canada’s vibrant and innovative economy.
In this blog post, we will provide you with all the information you need to know about the Start-up Visa Program, including investment requirements, language requirements, eligibility criteria, the application process, and how we can help you with the process.
The time to apply for the Canada Start-Up Visa Program is now. Given Immigration, Refugees and Citizenship Canada’s recent announcements to increase levels planning, it is clear that the Start-Up Visa Program is being given increased attention.
What is Canada’s Start-up Visa Program?
Canada’s Start-up Visa Program is designed to attract and support innovative entrepreneurs from around the world who have the potential to create jobs and contribute to Canada’s economy. This program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that:
- are innovative
- can create jobs for Canadians
- can compete on a global scale
Successful applicants receive a work permit and can obtain permanent residency in Canada once they have established their start-up business.
Is there any investment requirement for Canada’s Start-up Visa Program?
There is no minimum investment required for Canada’s Start-up Visa Program. However, you must receive a letter of support from a designated organization that will invest in your business idea. The designated organization can be a venture capital fund, angel investor group, or business incubator.
Additionally, the designated organization must be satisfied that your business idea has the potential to create significant economic, social, or cultural benefits for Canada.
To be eligible for Canada’s Start-up Visa Program, you must be proficient in either English or French. You can prove your language proficiency by taking a language test from an approved organization and including the results with your application. The minimum language requirements are CLB 5 in English or NCLC 5 in French for all four language abilities: reading, writing, listening and speaking.
To qualify for the Start-up Visa Program, you must meet several eligibility criteria:
- You have a business idea that is innovative, scalable and has the potential to create jobs in Canada.
- You have a letter of support from a designated organization.
- You meet the language requirements.
- You have enough funds to support yourself and any dependents.
- You pass a medical exam and security check.
How much time does it take to apply for Canada’s Start-up Visa Program?
The application process for the Start-up Visa Program can take anywhere from 12 to 16 months. The current processing time varies and it is always good to check on this whenever you decide to head in this direction. This processing time also includes the time you need to give your biometrics. During this time, you will need to provide various documents and attend interviews as required.
Our immigration lawyers can guide you through the process and ensure that you submit a complete and accurate application.
Once you have established your start-up business in Canada and met the requirements of the program, you can apply for permanent residency through one of the existing immigration programs. This allows you and your family to put down roots in Canada and enjoy all of the benefits of living in this great country.
How can Shory Law help you with Canada’s Start-up Visa Program?
Canada’s Start-up Visa Program can be an excellent opportunity for entrepreneurs who want to establish their businesses in Canada and obtain permanent residency. At Shory Law, we are dedicated to helping entrepreneurs from around the world achieve their goals of establishing their businesses in Canada. From filing documents to preparing you for the interview, our immigration lawyers are here to provide you with legal guidance and advice, ensuring that your application is submitted accurately and efficiently.