Startup Visa Canada Program
The Canada Start-up Visa Program was introduced by the Canadian Immigration Department on April 1, 2013, with a five-year pilot period. In 2018, new regulations were announced, making the Canada Start-up Visa Program an official and permanent program.
The program aims to attract foreign entrepreneurs with innovative and groundbreaking business ideas to immigrate to Canada. As the program’s slogan states, “Canada needs more entrepreneurs,” the Canadian government hopes that the start-up projects of talented immigrant entrepreneurs will create new “Silicon Valleys” in the country, boosting economic growth and creating jobs for workers.
Unlike other programs around the world, the Canada Start-up Visa skips the step of granting “Temporary” or “Conditional” Permanent Residency. Approved applicants are granted full residency rights in Canada as permanent residents.
Canada Startup Visa Benefits
- Permanent residence for successful applicants
- Dual citizenship is permitted
- Dependents included: Spouse or common law partner ; Children under 22 years old who do not have a spouse or a
- No upper age limit
- Fast processing time
- Ability to live, work and study upon approval
- Access to high quality subsidized education upon approval
- Access to advanced health and welfare systems upon approval
- Opportunity to sponsor your family relatives to Canada
- Possibility to apply for Canadian citizenship after 3 years of permanent residence
Canada Startup Visa Requirements
- The applicant must demonstrate that they are innovative immigrant entrepreneurs who will spur economic growth by obtaining a commitment certificate from a designated organization
- The applicant must hold at least 10% of the voting shares in the business, and together with the designated organization more than 50% of the voting shares
- The applicant must operate and manage the business venture once set up from within Canada
- The applicant must meet a minimum of level 5 in the Canadian Language Benchmark Test in English or French, in speaking, reading, listening, and writing
- The applicant must show that he has enough funds to support herself and any dependents after they arrive in Canada
- The applicant and family members must be in good health and have no criminal record
Canada Startup VisaInvestment options
- An applicant may obtain a commitment certificate from one of the following types of designated organizations:
- Business incubator – which confirms that the applicant’s business is currently participating in or has been accepted into its business incubator program
- Angel Investor Group – which confirms that it is investing at least CAD 75,000 in the applicant’s business; or
- Venture Capital Fund – which confirms that it is investing at least CAD 200,000 in the applicant’s business
Canada Startup Visa Process Canada startup visa processing time : 40 Months
Why is Canada a Leading Country for Start-ups?
Canada is renowned for its high quality of life, making it an ideal destination for ambitious entrepreneurs who want to start and grow their business ideas. So, what makes Canada a leading country for start-ups?
A dynamic business environment consistently supported by:
- Supportive Start-up Policies: The Canadian government prioritizes and encourages entrepreneurial activities with numerous attractive support policies, ranging from funding and tax reductions to training and advisory programs.
- Simple and Quick Business Establishment Procedures: Starting a business in Canada is straightforward and fast, with clear and transparent processes.
- Stable and Growing Economy: Canada boasts a stable and developed economy, ranking among the top 10 largest economies in the world, providing favorable conditions for businesses to grow and expand their markets.
- Modern and Advanced Infrastructure: Canada's modern transportation, telecommunications, and information technology systems enable businesses to operate efficiently and connect with global markets.
A high-quality and diverse workforce:
- Highly Skilled Workforce: Canada has a highly educated, dynamic, and creative labor force that meets the needs of businesses across various sectors.
- Cultural Diversity: Canada’s multicultural environment fosters a wealth of ideas and makes it easier for businesses to access international markets.
Excellent Quality of Life:
- Clean and Safe Living Environment: Canada is known for its clean, safe, and friendly living environment, making it an ideal place to settle down and raise a family.
- Top-Notch Healthcare and Education Systems: Canadians enjoy high-quality, free healthcare and education services, ensuring a healthy life and a bright future for the next generation.
Frequently Asked Questions
What is the Startup Visa Canada Program?
The Canada Start-up Visa Program grants permanent residence to entrepreneurs who start an innovative business in Canada with support from a designated entity. A qualifying business must be owned jointly by the applicant and the designated organization with the applicant holding at least 10% of the voting rights.
Who qualifies as a dependent in the Canada Startup Visa application?
Dependents eligible for the Canada Startup Visa include the applicant’s spouse and children under 22 years old who are not married or in a common-law relationship.
What benefits does permanent residence status offer in Canada?
Permanent residents in Canada can live, work, and study anywhere in Canada, access social benefits including healthcare, apply for citizenship under qualifying conditions, and are protected by Canadian law and the Canadian Charter of Rights and Freedoms.
What are the typical application processing steps for the Business Incubator Stream?
The Business Incubator Stream involves a due diligence assessment by the incubator, confirmation of intent from the applicant, submission of work permit and permanent residence applications, and eventual permanent residence upon approval.
Is it necessary to travel or reside in Canada during the Startup Visa application process?
Active and ongoing management from within Canada is required for the SUV program, though no specific residence duration is mandated.
What is the average processing time for applications?
The typical processing time for a work permit under the SUV program is 8-12 weeks, and the processing for permanent residence takes about 37 months.
* Lưu ý rằng thông tin này chỉ mang tính chất tham khảo và không nhằm mục đích tư vấn hay đưa ra lời khuyên pháp lý đến Quý nhà đầu tư. Những thông tin này có thể được thay đổi mà không thông báo trước. Để được đánh giá hồ sơ định cư chính xác và cập nhật nội dung chương trình đầu tư định cư chi tiết, Quý khách hàng vui lòng liên hệ với công ty chúng tôi để được tham vấn ý kiến của luật sư hoặc các chuyên gia pháp lý có trình độ chuyên môn và kinh nghiệm phù hợp.