The Canada Start Up Visa program grants Canadian Permanent Residence to immigrant entrepreneurs while assisting them to become established in Canada. Successful applicants link with private sector organizations in Canada, where they can receive funding, guidance and expertise in opening and operating their enterprise in Canada.
Successful applicants are able to secure Canadian permanent residence in 6 months. In the interim they can also obtain a Canadian work visa within 7 days to start work on their venture.
In order to be eligible, applicants for the Canada Start Up Visa must meet the following requirements:
- Have received a letter of support from a government-designated organization;
- Meet minimum language requirements (IELTS Band 5.0);
- Have completed at least one year of post-secondary education,
- Have sufficient funds to settle in Canada; and
- Pass Canadian security and medical clearances
No more than five foreign nationals may apply for permanent residence as part of the same business venture under the Start Up Visa Program.
Letter of Support
If the designated organization (VC, Angel Investor or Incubator) supports your business idea, it will give you a Letter of Support.
You must include your Letter of Support with your application as proof that a designated organization supports your business idea. If you do not have a Letter of Support from a designated organization, your application will be refused.
Advantages of the Canada Start Up Visa Program
There are several advantages of the Canada Start Up Visa program when compared to other entrepreneur programs such as the UK Tier 1 Entrepreneur Program. They include:
- If successful you will be granted Canadian Permanent Residence (you can live in Canada indefinitely);
- There will be no conditions on your Canadian immigration status;
- Experienced mentors will guide you through the process of launching your business in Canada;
- If your Canadian start-up is unsuccessful, you will still retain your Canadian Permanent Resident status.
I Want to Apply for a Canada Start Up Visa
If you are interested in establishing your Start Up in Canada please get in touch.