If you have the skills to start a creative business or have a good idea to encourage Canadian Embassy organizations to invest in your business, you can apply for a Startup Visa. You can get permanent residency this way if you participate in the Canada Startup Visa Program and improve your Canadian business as well as your business.
Canada has an almost stable and strong economy, and taxes in this country are lower than in the rest of the United States, so the cost of starting your own business is lower. Although you need initial capital to get started, you can be sure of your business’s job market and success more than anywhere else. Of course, all of this requires having a qualified business
What is a Canadian Startup Visa?
If you are planning to immigrate to Canada and start a creative business in Canada, you can apply through the Canada Startup Visa Program. Of course, in addition to being creative and creating jobs in Canada, your business must have the capacity to compete globally. In this case, you will receive a letter of support with the support of one of the selected organizations that can invest or support your project and startup.
Canadian Startup Visa Requirements
- Have a qualified business. (In Canada, which will be created by our company.)
- Your business is supported by an investment organization.
- Your business has the minimum requirements to start in Canada.
- You own at least 10% of the business franchise.
- The applicant and the organization must have a combined 50% stake in the business.
- The bulk of your business needs to be in Canada.
- Have English or French language skills with a minimum score of 5.
- Have initial capital and support for at least the first 6 months of living in Canada.
When you receive a commitment from a designated organization:
- Each applicant at that time has 10% or more of the company’s shares (up to 5 people can apply as shareholders. 5 shareholders are allowed for each company).
- The applicants and the designated organization jointly own more than 50% of the total shares attached to all the shares of the leading companies at that time.
The cost of a Canadian startup visa
If you are supported by venture capital funds, your startup should be ready to enter the job market. Here you should get positive feedback from your business to be able to get support from this organization. In this case, $ 200,000 will be provided from the amount of capital you need.
If Angel Investors supports your plan, then your startup should have at least a prototype to be able to use the $ 75,000 investment of Angel Investors to pay for a Canadian startup. Finally, if you want to get letters from growth centers or incubators, you should be accepted into the initial plans of this category and you will no longer need the initial capital to start your business.
Duration of obtaining a Canadian startup visa
The duration of this program until receiving a permanent residence card in Canada is 12-18 months.
- It is about six to twelve months from the time of submitting the plan and idea and approving the plan and receiving the support letter.
- About 18 months after receiving the letter of support until the issuance of the PR card
- Obtaining a work permit in Canada 3 months after receiving the letter of financial support
- If the applicant wishes to invest in Canada and join the file, it will take three to six months to establish a suitable team for the applicant.
How the Canadian Startup Visa Program works
To immigrate to Canada through a startup, you need a support budget for venture capitalists. The Government of Canada must approve the support of high-risk investors for your plan in order to be eligible for the Startup Visa Scheme. Check the various venture capitalist websites and provide them with the documents they need. These investment groups often prefer to invest in some startups according to their goals. If your startup is supported, they will send a certificate of commitment to the Immigration Office stating that they support your plan, detailing the commitment between you and the investor. You can also get the support of several investment organizations. In this case, you can apply for a Canadian start-up visa after all investors supporting the startup have agreed.
If the amount you take with you to Canada is more than $ 10,000, you must notify the authorities upon arrival at the Canadian border so that your funds are not seized. The required capital for the number of applicants in a family is as follows:
1 people $ 25,338
2 people $ 31,544
3 people $ 38,780
4 people $ 47,084
5 people $ 53,402
6 people $ 60,228
7 people $ 67,055
From 7 people onwards, you will need an additional $ 6,827 per person.
You do not need any deposit or investment in this program and the company that approves your business plan will invest. And even if the approved business is not successful, you will still be able to get your permanent residence card.
Details of investing start Canada start up visa
According to the Immigration and Citizenship Canada, selected organizations that support business initiatives and startups fall into three categories:
Growth Organizations or Incubators: If your business is young and still in its infancy, Growth Organizations startup programs are the best option.
Angel Investment Group: If a prototype of your business is built and ready to enter the market, engaging with Angel Investors is a better option.
Venture capital funds: If you are new to building and prototype building and have feedback from the market and product sales and customer interaction, hedge fund options are for you.
Your business support letter should be received from one of the following agencies:
- Venture capital funds
- Angel investor groups
- Business incubators
Designated organizations are business groups that have been approved to invest in or support potential startups through the Visa Startup Program.
Organizations review business offers and then choose from them. Each organization has its own receiving process. For example, you may be asked to present your business plan in person or a detailed work plan.
Canadian Startup Visa Requirements
These three are the main conditions for having a Canadian start-up visa plan. If you are accepted into a startup visa scheme, you will not need any capital to start.
language skill
Business ownership
financial support
Venture Capital Canada: $ 200,000
Angel Investment Fund: $ 75,000 Capital
English and French language skills, quality, originality, business qualifications as well as financial support are the main conditions for accepting a startup visa plan and obtaining a visa from this country.
You need to convince at least one of the following groups to invest at least $ 200,000, but in the next group you only need to convince 2 investors to invest $ 75,000.
Venture capital funds
BCF Ventures
BDC Venture Capital
Celtic House Venture Partners
Extreme Venture Partners LLP
Golden Venture Partners Fund, LP
Impression Ventures
Innovation Platform Capital International LP
iNovia Capital Inc.
Lumira Capital
Nova Scotia Innovation Corporation (or Innovacorp)
OMERS Ventures Management Inc.
Pangaea Ventures Ltd.
PRIVEQ Capital Funds
Real Ventures
Relay Ventures
ScaleUp Venture Partners, Inc.
Top Renergy Inc.
Vanedge Capital Limited Partnership
Version One Ventures
Westcap Management Ltd.
Yaletown Venture Partners Inc.
York Entrepreneurship Development Institute (YEDI) VC Fund
Angel investor groups
Canadian International Angel Investors
Ekagrata Inc.
Golden Triangle Angel Network
Keiretsu Forum Canada
Oak Mason Investments Inc.
Southeastern Ontario Angel Network
TenX Angel Investors Inc.
VANTEC Angel Network Inc.
York Angel Investors Inc.
Canadian Startup Visa Application Process
Once you have received the letter of support from the investment organization, you can go to the Canadian Embassy and get a work visa, and with this visa, go to Canada and start your business. If you are eligible for a Canadian Startup Visa and have a business eligible for this visa, prepare yourself for the following steps:
- Receive a letter of support from the Investment Organization approved by the Canadian Embassy
- Payment of visa fees
- Register the application and visit the embassy
Get a visa
Steps to apply for permanent residency in Canada through a startup
Receive a letter of support from the investment organization
This is the main part of applying for a visa. After this step, your work routine is almost related to the administrative department.
Attractive idea or creative business
To be able to attract investor support, you either have to come up with an attractive idea that will help you grow your business in Canada, or a creative business that will help you create a job in Canada. Even if your startup or idea already exists, but you make it easier for your competitors to do it with your idea, or have a different service, you can work on your business idea.
Presenting a business plan
Write a business plan or business plan that can attract the attention of investment organizations for support. Choosing a business model has a big impact on choosing your investment plan. Your business plan should be written in such a way that, in addition to being innovative, it can compete internationally and create jobs in Canada.
Choosing an investment organization
The organization you choose to invest in your project could be growth centers or incubators, high-risk investment organizations, or angel investors. If your business is small and start-up, growth centers are more likely to invest than other centers. Of course, there are no restrictions on sending support requests to investors, and you can get them from several startup capital centers or organizations at the same time. The official website of the Canadian Startup Visa Program provides a complete list of embassy-approved investment organizations.
Submit a support request
Go to the Startup Canada Visa website and select the documents required by the investment organization and submit your application.
Get a visa application package
This package includes all the forms you need to get a visa along with a guide to each one. After completing the application form, click the Validate button. After confirmation, you will be given barcode pages that must be accompanied by your documents when applying. Then prepare all the documents in the checklist and check it.
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Pay startup Canada
The costs for a Canadian startup include the cost of checking your or your family’s credentials, the cost of permanent residency, the cost of a medical examination, a police certificate and a language test. There is also a separate charge if you use the services of the Visa Application Center.
- Please note that after submitting the documents, the fee you paid for the review will not be refunded to you.
- When your application for residency is approved, you pay the residency fee.
- If you cancel your application or change your decision to immigrate to Canada, you will be reimbursed.
- You must pay for medical and biometric tests when you apply. After payment and registration, a confirmation letter will be sent to you for the biometric test, at which time and place the test will be performed.
Submit the final application
Finally, after answering all the questions and signing all the required sections and completing the documents and attaching them to the file, submit your application. If your application is approved, you will receive your residence visa within 12 to 16 months.
Your visa includes a permanent residence permit and an entry visa to Canada. Your residence certificate must match the details of your passport. Even if your business is in trouble and unsuccessful, your permanent residence will not be revoked and you can continue to live in Canada with your permanent residence permit.
Start-up Canada Visa Approved Business start up
In order for your business to be approved, you must have the support of an investment organization. Since 2018, when the Permanent Residence Application for a Canadian Startup Visa was issued, the Government of Canada has officially welcomed creative and entrepreneurial applicants to enter a new and full of ideas stream into the Canadian economy and market.
These businesses are the kind of jobs in which creativity and innovation must be used. For example, routine businesses such as the establishment of restaurants are not welcomed by the Canadian government, but are businesses that either did not already exist in Canada and by creating it will improve employment and income generation in Canada, or unique innovations and services in Create a plan that has already been launched in Canada. So just finding a sponsor and attracting an investor or having capital does not lead to getting this idea. First of all, the professional and strong business plan that you provide for your creative business will be considered.
Requires English and French language skills to obtain a startup visa
Your proficiency and ability to communicate in English or French will help you obtain a Canadian Startup Visa. Therefore, before entering a language test, you will take one of the institutions approved by the Canadian Embassy and present the result with your documents along with the file. Must have at least level 5 in the four skills of reading, writing, listening and speaking. Otherwise your visa will be rejected.
Canadian Startup Visa Medical Checkup
You must have a medical check-up before going to Canada. Even if your family does not intend to accompany you on a startup visa, they should be included in this checkup. Your request will not be approved if you endanger Canada’s public health or security. Also, if you need health care in Canada, the procedure for approving your application will be difficult.
Consultation with a Canadian Startup Visa lawyer
If you are planning to go through the visa process yourself, you should be aware of the complexities of this route and its conditions. Given that performing these steps alone may lead to trial and error while taking time, money and energy from you, it is better to use the advice and guidance of consultants who have sufficient expertise in this field.
Our company, with a team of immigration experts and attorneys, will guide you in obtaining a startup visa in person and in person. From the first step to obtaining permanent residence, he will be with you and if the visa is rejected, he will check the reasons and act again. All the documents you need, from business plan and business plan to laboratory documents, guide you to biometric time and place.
http://danarg.com/canada/
Cyrus
Business Advisor
Email: Cyrus@danarg.com
For additional information on company registration in Canada, please send your request and contact Mr. Cyrus directly.
