Start-Up Visa Canada | Canada PR through investment | BOI services.

START-UP IMMIGRATION PROGRAM

Canada is one of the most popular destinations among ambitious entrepreneurs. For entrepreneurs, investors, and business owners who want to expand their business venture Canada is the best place for them. Its strategic location, abundant natural resources, and skilled workforce make Canada an ideal location for business. If you want to scale your business in Canada you can apply through the Start-up Immigration Program.

What is a Start-Up Visa Program?

Canada Startup visa program commonly known as the Canada SUV program permits qualified overseas entrepreneurs, investors, and business owners permanent residency in Canada. Canada SUV program offers opportunities to entrepreneurs to start or establish a new business in Canada. To prove that they are eligible entrepreneurs have to demonstrate that their business idea is innovative, will surely create more job opportunities for Canadian citizens and Permanent Residents, and with their innovative idea, they can succeed on a global scale.

Who can apply for the Start-Up Visa Program?

Here are some of the basic Startup Visa Canada requirements that applicants have to fulfill to become eligible to apply –

Applicants must have a qualifying business
Must have professional business ownership or management experience.
Language proficiency is required: Canadian Language Benchmark (CLB) level 5.
Must have a Letter of Support from a designated organization.
Applicants should have proof of funds
Applicants have to show intention to settle in Canada other than Quebec province.

To qualify for a Canada Start-up visa, how much funds are needed?

Funds depend on the size of your family, it may vary according to your family size. Follow the table to find how much funds you require to qualify for a Start-up visa:

Number of family members	Funds Required (in Canadian dollars)
1	$13,310
2	$16,570.00
3	$20,371.00
4	$24,733
5	$28,052
6	$31,638
7	$35,224.00
For each additional family member	$3,586

What are the designated organizations for the Startup Visa Program?

To be eligible for the Canadian Permanent Residency through Startup Visa Program, applicants are required to attach a Commitment Certificate and Letter of Support with their visa application. Your visa application will require these documents that describe your association with one or more designated organizations. These documents are like proof that a designated organization supports your business.

The program does not require applicants to invest their own capital, unlike federal and provincial investor programs.

Canada Startup Visa Designated Organizations

You must have the support of one or more of the following organizations when you start a business idea or venture:

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Startup visa Canada applicants must meet the following requirements:

Secure at least $75,000 from a Canadian Angel Investor, or
An investment of at least $200,000 from a Canadian venture capital fund recognized by the Canadian federal government.
If the applicant is accepted into a recognized Business Incubator, then there is no need for investment capital.

How to apply for the Canadian Startup Visa Program?

Follow the following steps to apply for a Canada Permanent Residence visa under Startup Visa Program:

Step 1. Get your letter of support from a designated organization

Step 2. Fill out the visa application form

Step 3. Gather all required documents

Step 4. Pay your application fees

Step 5. Submit your visa application

What is the cost to apply for the Canada Startup Visa?

Applicants have to pay the application fees, Right of Permanent Residence Fee, and biometrics fees to Immigration, Refugees, and Citizenship Canada (IRCC) to apply for a Startup Visa:

Application, per person	Fees in CAD
Main applicant - processing fee	$1,625
Main applicant - Right of Permanent Residence Fee	$515
Spouse/partner - processing fee	$850
Spouse/partner - Right of Permanent Residence Fee	$515
Dependent child	$230
Biometrics fees, per person	$85
Biometrics, family of two or more, applying at the same time and place	$170

What is the Canada Startup Visa processing time?

Currently, the processing time for the Canada Startup visa is approximately 12 to 16 months but it can vary because of many factors, such as whether applicants have submitted complete documents or not, type of application submitted, etc.

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Why trust BOI Services with your visa process?

Authorized and licensed Immigration Consultancy.
Check eligibility based on the latest immigration rules & regulations
Ensure a safe and transparent online process.
Complaint resolution system to provide excellent customer support
Profiles are evaluated with specially designed services
Cases are assessed & rectified multiple times before submission

BOI Services is one of the best Immigration Consultancy in New Delhi, widely regarded as one of the most reputed and trusted Immigration Consultancy in India by its customers. We have helped hundreds of visionary people to successfully immigrate to Canada through Start-up Visa Program. Our trained, well-versed, and experienced Immigration Experts are dedicated to support you with your immigration process.

FREQUENTLY ASKED QUESTIONS (FAQs)

1. How much investment is required to apply for Canada's SUV program?

The minimum investment required to apply for Canada’s Start-up visa depends on the organization offering you support:
Venture capital fund in Canada - $200,000
Angel investor group in Canada - $75,000
Business incubator - No Investment Required

2. What will happen if I get investment support from different designated organizations?

If you are applying for a Canada Startup visa and you received multiple support from different Immigration Refugees and Citizenship Canada (IRCC) designated organizations is called syndication. It is necessary to identify all the interested investment bodies in this situation and take their commitment Certificate through which you can easily get a Letter of Support. You should know that only one certificate will be sent to the authorities and one letter of support will be provided to you.

3. Who examines the applications for Start-up Visa?

1. Designated Organization - Start-up visa applications are firstly reviewed by the designated organization. The viability of your business proposal gets reviewed.

2. Immigration, Refugees and Citizenship Canada (IRCC) - After the designated organization, IRCC reviews the application to check whether you have required support or not. IRCC also checks your eligibility for Permanent Residency Canada.

3. Peer Review - Your application might also go for an independent peer review process. In this stage applicants and designated organization activities are checked to make sure it is in line with industry standards.

4. What will happen if my business fails after immigrating to Canada through a Startup Visa?

The authorities are aware that risks are always present in business, and not every venture succeeds. So, you do not have to worry, your Canada PR status will not be affected by your business failure.

5. Would it be possible for me to immigrate to Canada with my team of entrepreneurs?

Yes, you can immigrate to Canada with your team of entrepreneurs. If your team includes upto 5 entrepreneurs, you can apply as owners of a single business. The designated organization will review or check the importance of every team member if it finds all team members essential for the business you and your team can immigrate to Canada.

6. Under the Start-up Visa Program, who is an Essential Person?

Under the Start-up visa, an essential person is someone who is especially identified as a key individual for the business by the Canadian designated organization. The essential person is the one whose name is highlighted on the Letter of Support and Commitment Certificate if due to any reason the application of the essential person gets rejected the application of all others will get rejected automatically. Without an essential person, the visa application can not move forward.

7. What are the major differences between venture capital funds, business incubators, and angel investor groups?

Here is the main difference between all three designated organizations:
1. Venture capital funds are established by professional investor's firms, and the funding comes from various external sources.
2. Business incubators are those companies or firms that support start-up businesses by offering a variety of services, such as management training or office space.
3. Angel investor groups are people who contribute their own money, advice, and business expertise to the early development of a small business.

8. Do I need to invest my own money for the Canada SUV program?

No. Applicants are not required to invest their own money for the Canada SUV program. Individuals have to get an investment through any of the designated organizations which are mentioned below:
1. Venture capital funds
2. Business incubators
3. Angel investor groups

9. I have a start-up visa; can I bring my family to Canada?

Yes. If you are a Canada Start-up visa holder, you are allowed to settle permanently in Canada with your family while managing and operating a business there.

10. Can someone with a Canadian Start-Up Visa settle in Quebec?

No, Canadian Start-up Visa is not permissible in the province of Quebec. If you want to immigrate to Quebec, you need to apply through Quebec immigration streams. You should also know that the Provincial Nominee Program (PNP) and the Express Entry System do not apply to Quebec.

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