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Start-Up VISA

About the Start-Up Visa

Canada’s Start-Up Visa Program has been created to attract immigrant entrepreneurs and business owners who have the skills to come to Canada to build a successful business. This program is one of the fastest and most efficient ways to become a Canadian permanent resident for a business investor.  

 

The Government of Canada looks for innovative businesses that can stimulate economic activity, create Canadian jobs, and have the potential to compete on a global scale. The applicant’s value proposition scalability is an essential factor; however, performance agreements or success metrics are not a condition of obtaining permanent residence after the entrepreneur has obtained status in Canada. 

 

How does the Start-Up Visa Canada Work? 

Before applying to the Start-Up Visa Canada Program, you must first obtain a letter of support from a designated organization in Canada. A designated organization is either an angel investor fund, venture capital firm, or a business incubator that the IRCC has authorized to provide letters of support to applicants, along with commitment certificates to the government. 

 

To obtain a letter of support and commitment certificate from a designated organization, you must fulfill one of the following requirements: 

Angel Investor Fund – Secure a minimum of CAD $75,000 in investment funding through a written commitment; 

OR

Venture Capital Firm – Secure a minimum of CAD $200,000 in investment funding through a written commitment; 

OR

Business Incubator Program – Obtain a letter of invitation to join the business incubator (no financing is required). 

Other factors to consider: 

  • Language requirements of CLB 5+ in English or French;
  • Proof of settlement funds for the applicant and family;
  • Up to five applicants for one business are allowed to apply if each holds a least 10% voting rights and jointly with the designated organization hold more than 50% voting rights.

While an applicant is waiting for his or her permanent residence card to be processed, temporary work permits will be issued to the applicant in order to come to Canada and set up the business. Open spousal and study permits will also be issued for all dependents of the applicant. 

 

Advantages of the Start-Up Visa Canada Program

  • Applicants and their family will gain immediate permanent residence in Canada;
  • This is not a performance-based visa program;
  • The program does not require an exploratory visit to Canada before gaining permanent residence
  • There is no minimum net worth requirement; 
  • There is no minimum capital or investment requirement.

How Beaver helps Clients through the Start-Up Visa process 

 

  • Securing a letter of support

Beaver Immigration Consulting will help navigate the complexities associated with securing a letter of support from a designated organization for clients. There are dozens of designated organizations recognized by IRCC, each having a preference for the type of business they are willing to support or partner with. At Beaver Immigration, we identify which designated organization would be the best fit for the client’s business, and then we prepare our clients for approaching or “pitching” the designated organization.

 

  • Apply for permanent residency

Once the client obtains a letter of support from a designated organization, the official immigration process begins for the business investor and their family. The first step will be to apply for temporary work permits for the investor and study permits and spousal permits for all dependents (if needed), so the investor can promptly enter Canada to begin working on their business. Simultaneously, applications for permanent residency will be made on behalf of the applicant and their family. The processing time can take up to a year for the permanent application to be processed. 

Why work with Beaver Immigration? 

 

We only work with the most prominent, successful, and reputable business incubators in Canada. 

Obtaining a letter of support from a designated organization requires a great deal of effort. The preferred business incubators put applicants through a rigorous screening process to ensure the IRCC approves the business concept. Dealing with reputable business incubators increases an applicant’s chances of success. 

 

Why should I apply and work with a Canadian business incubator? 

Typically, over a six-month period, a Canadian business incubator will support start-ups by providing business mentorship and various services such as:  

  • Business mentoring & presentation skills development; 
  • Access to network partners, industry leaders, potential clients, & vendors; 
  • Facilitating investment for your business; 
  • Work with designated entities; 
  • Applying for government grants and or funding.  

The services we provide

BIC has a dedicated team of industry experts, including a Canadian student placement specialist, business immigration expert and support staff to tailor immigration solutions for its clients.

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