Federal Start-Up Program | nestabroadimmigration

The Entrepreneur Start-Up Visa Program

The Start-Up Visa program grants permanent residence to immigrant entrepreneurs while assisting them to become established in Canada. The Federal start-up program urges settler business visionaries to develop their organizations in Canada. Effective candidates interface with private segment associations in Canada, where they can get financing, direction, and ability in opening and working their venture in Canada.

Eligibility Requirements:

So as to be qualified, candidates for a Start-Up Visa must meet the following prerequisites:

Meet least language necessities in English or French (CLB 5 in all capacities);
Have adequate assets to settle in Canada;
Plan to settle in a territory other than the Province of Quebec;
Pass Canadian security and police clearances;
Demonstrate your business is approved through an assigned association; and
Demonstrate your business meets proprietorship requirements.

Having a qualified business.

To be considered a qualifying business, entrepreneur applicants must have created a business in which each applicant for immigration holds at least 10 percent of the voting rights attached to all shares of the corporation. Up to five newcomers can apply together as owners. As well, the applicants and the designated organization must jointly hold more than 50 percent of the total voting rights.

In order to secure permanent residence through (Federal start-up program) the Start-up Visa Program, applicants must ensure that the business becomes incorporated within Canada with essential activities taking place in Canada through the active management of the foreign entrepreneurs.

Securing a commitment from the Designated entity

Before applying to the Start-up Visa Program, foreign entrepreneurs must secure the commitment of a designated organization that will support the business’ development in Canada.

There are three categories of designated organizations:

Designated angel investor groups

Designated venture capital funds

Designated business incubators

Interested applicants can consult the above lists to find potential matches for their business venture. A designated organization’s commitment is demonstrated through a Letter of Support which must be included as part of the application. Letters of Support are valid for six months from their date of issue.

Proof of funds requirements

Interested applicants must show that they have enough money to support settlement in Canada for themselves and their family members. To do this, applicants have to show that they meet IRCC’s proof of means of financial support requirement.

How to apply for the Start-Up Visa program

The Start-up Visa Program application requires documentation demonstrating that the applicant meets all four major requirements for the program. In addition, the application requires significant supporting documentation demonstrating the eligibility of the principal applicant and accompanying family members for immigration to Canada. This includes medical exams and police certificates, ensuring that an applicant is not medically or criminally inadmissible. Many applicants will also be required to submit biometrics and certified translations of documents that are not presented in English or French.

The application fee for the Start-up Visa Program is CAD $1,575 for the principal plus a $500 right of permanent residence fee, $825 for accompanying spouse/common-law partner plus a $500 right of permanent residence fee, and $225 per dependent child.

All components of the application must be created in hard-copy, compiled in a single envelope, and sent by mail or courier directly to IRCC’s Centralized Intake Office in Sydney, Nova Scotia.

Applications are typically processed within 12 to 16 months. However, applicants can apply for a temporary work permit enabling them to begin working in Canada prior to the approval of their permanent residence application.

Once an application is approved, the principal applicant and all accompanying family members will receive Canadian permanent resident status.