Canada Start-up Visa Program
If you are an entrepreneur and looking to establish a start-up business in Canada. Then you are at the right place. Boi services will give you full assistance.
What is start up visa Canada?
The Canada startup visa is the program in which Entrepreneurs get the opportunity to establish a new business as an immigrant in Canada. The entrepreneur needs to explain that their business and its idea is innovative and it will create new jobs for residents of Canada. You prove to them that your business idea has the ability to compete worldwide. After you fulfil the eligibility you can open your business independently in Canada or branches of your Indian company.
The Government of Canada encourages entrepreneurs from all around the world to establish their businesses in Canada. They arrange funds and supports to thrive their business needs.
You should know that startup visa processing is way faster than other programs. You will get PR status when you get a Canadian entrepreneur visa. You may be one step closer to the citizenship of Canada. A Start-up visa gets issued only when you are a business incubator, an investor group, or a venture capital fund.
The way you can migrate to Canada is by an Intra-company transfer visa, Provincial visa programs for entrepreneurs, and a Canada startup visa.
Canada start-up visa requirements
1. Your business program needs to be qualified. You have to show active and ongoing management for your ideas.
2. You should find a designated investor. A letter of agreement is needed from investors to show that they want to invest in your ideas.
3. You must fulfill the language requirement. You should be able to communicate in English.
4. You must have sufficient funds to invest in Canada.
5. You must have to be able to communicate and work in English, you have to take a language test from an IRCC approved agency and meet minimum language requirements. You need proof from CLB (Canadian Language Benchmark) in reading, speaking, and writing in English.
6. You have to meet the minimum fund's criteria, for getting a Startup visa you need to have 2 lakh dollars if the investment is from Canadian VC. Secondly, if the investment is from an angel investor then you need 75000 dollars. You need 0 investments if your idea is really unique and it has the potential to earn more business in the upcoming time. You are in the category of the Business Incubator group.
7. You have to declare proof of sufficient funds to support you and your family. The amount of funds will depend on the no. of family members you want to immigrate to Canada.
Canada Startup Visa Processing time
If an entrepreneur has a valid start-up business concept, the processing timeline is typical as follows:
Obtaining a Letter of Support might take anywhere from 4 to 6 months.
The visa application must be completed within 18 months.