For the Canada Start-up Visa, your business must be innovative, with potential for creating jobs for Canadians, and able to compete on a global scale. 12 to 16 months processing.
Canada’s Start-Up Visa is targeted at immigrant entrepreneurs that want to settle in Canada as permanent residents. Here, we will see the eligibility requirements, application process, processing times, costs involved etc.
The Start-up Visa Program, offered by the federal government of Canada, provides a Canadian immigration pathway for immigrant entrepreneurs that possess the skills as well as the potential to set up businesses in Canada.
Under the Start-up Visa Program, Canada is looking for talented entrepreneurs who can start businesses in Canada that will stimulate the economy of the country. Such innovative businesses must also create employment opportunities for Canadians - permanent residents and citizens of Canada - and be able to compete on a global scale.
Yes. You can apply for a short-term work permit before you submit your application for Canada PR under the SUV program of Canada. You will need the following to apply for a short-term work permit -
Your Canada PR application must be submitted within six months from the date of issue of your Commitment Certificate.
To be eligible for the SUV, you must be an entrepreneur with an innovative business idea.
There are four requirements to be fulfilled.
At the time of receiving their Canadian permanent residence visa, the applicant must be actively managing their business on an ongoing basis from within Canada. While your Canada PR application is under processing, you can apply for a Canada Temporary Work Permit, allowing you to go to Canada and start building your business.
The business, to have been incorporated in Canada, must have an essential part of the business operations happening within the country.
For the Canadian Start-Up Visa Program, a designated organization is a business group approved for investing in or supporting a potential start-up business in Canada.
Additional business information might be asked for, if required for reaching a final decision on the application.
For a business to succeed in Canada, the ability to communicate and work in English, French, or even both the languages will be required.
To meet the language requirements for the SUV Program of Canada, you will be required to appear for and pass a language test from any of the agencies specifically approved by Immigration, Refugees and Citizenship Canada (IRCC). The language test results will have to be included with the application.
As compared to other immigration programs like the Federal Skilled Worker Program (FSWP) of Canada’s Express Entry, the minimum language requirement for Canada’s SUV is that of Canadian Language Benchmarks (CLB) 5, in either French or English.
Before you can apply for a Start-Up Visa for Canada, you will have to get an organization to support you for the same. The organization supporting you must be specifically designated for the purpose by the federal government of Canada through IRCC.
If an organization is convinced that the business idea is worth supporting, a Letter of Support will be provided by them to the applicant. The designated organization will have to be directly contacted to find out the process for lending support to an immigrant start-up in Canada.
The Letter of Support, to be included in the Start-Up Visa application, will prove that your innovative business idea has the support of an angel investor group, business incubator, or venture capital fund.
Additionally, the designated organization will also be sending a Commitment Certificate directly to IRCC. For the assessment of the SUV application, IRCC will require both the Letter of Support as well as the Commitment Certificate.
The process for pitching a business idea varies from organization to organization. Some organizations might ask for the submission of a detailed business plan. Others, however, can ask for a business concept to be presented by the applicant in person.
Depends on the number of family members of the applicant. The cost of living in Canada will vary from place to place, depending to a large extent on where exactly in Canada you plan to settle as PR.
Business Immigration to Canada - Start Up Visa - Proof of Funds requirement in 2024
The proof of funds requirement has been updated with effect from April 25, 2023. To remain eligible, you must ensure that settlement funds are accordingly updated in your Express Entry profile.
|
IRCC Express Entry Proof of Funds Requirement in 2024 |
||
|
Number of family members |
Funds required in Canadian dollars (CAD) |
Approximate in Indian Rupees (INR) As per 1 CAD = 60.05 INR |
|
1 |
CAD 13,757 |
8,26,242 |
|
2 |
CAD 17,127 |
10,28,643 |
|
3 |
CAD 21,055 |
12,64,575 |
|
4 |
CAD 25,564 |
15,35,388 |
|
5 |
CAD 28,994 |
17,41,395 |
|
6 |
CAD 32,700 |
19,63,953 |
|
7 |
CAD 36,407 |
21,86,594 |
|
For each additional family member |
CAD 3,706 |
2,22,581 |
To be able to apply for Canadian permanent residence through the Start-Up Visa Program, your business venture or idea must have the support of one or more of the designated organizations.
A designated organization might be -
Choosing which business proposals to review, each of the designated organizations has its own intake process for proposals as well as the specific criteria used for an assessment. The designated organization is responsible for assessing the potential of a business proposal and the likelihood of its succeeding. A Letter of Support will be given to the applicant if any of the IRCC-designated organizations chooses to support their business idea.
The basic stepwise process for applying for a Start-up visa for Canada -
There is no need for sending the application to a visa office or any other processing centre.
You must mail your completed application to -
|
By Regular Mail |
By Courier |
|
Immigration, Refugees and Citizenship Canada |
Immigration, Refugees and Citizenship Canada |
|
Centralized Intake Office – Start Up Business Class |
Centralized Intake Office – Start Up Business Class |
|
P.O. BOX 8700 |
49 Dorchester Street |
|
Sydney, NS B1P 0G2 |
Sydney, NS B1P 5Z2 |
|
Canada |
Canada |
Do ensure that you write “Start-up business visa” on the outside of the envelope. You can send your application to any one of the given addresses. You must include the completed form, supporting documentation, and fee payment in a 9 inches by 12 inches envelope.
The total amount of fees to be paid by you to IRCC will include the application fees, Right of Permanent Residence Fee (RPRF), and biometrics.
Other third-party fees include the language testing, medical examination, police certificates etc.
Canada Start-up Visa - Calculate your fees
|
Application, per person |
Fees in Canadian dollars |
Fee in Indian rupees (approx.) |
|
Main applicant - processing fee |
CAD 1,625* |
INR 97,718 |
|
Main applicant - Right of Permanent Residence Fee (RPRF) |
CAD 515* |
INR 30,969 |
|
Spouse/partner - processing fee |
CAD 850* |
INR 51,114 |
|
Spouse/partner - RPRF |
CAD 515* |
INR 30,969 |
|
Dependent child |
CAD 230* |
INR 13,830 |
|
Biometrics fees, per person |
CAD 85 |
INR 5,111 |
|
Biometrics, family of two or more, applying at the same time and place |
CAD 170 |
INR 10,222 |
*As per the new IRCC fee for permanent residence, effective April 30, 2022.
Currently, the processing time is between 12 to 16 months. The individual processing time might vary based on many factors, such as the type of application submitted, whether or not the application is complete in all respects, etc.
By a “qualifying business” is implied a business that meets certain specific conditions -
No, the Start-up Visa for Canada is not applicable in Quebec. If you plan on settling within Quebec, you will have to visit Quebec immigration programs. As per the Canada-Quebec Accord, Quebec has a greater autonomy over the induction of migrants. Quebec is not a part of the Express Entry system or the Provincial Nominee Program.
Canada’s Start-Up Visa allows you to settle in Canada permanently with your family while you manage and run a business in the country.
To be eligible for Canada’s Start-up Visa Program, a CLB 5 will be needed in each of the four language abilities assessed - listening, reading, writing, and speaking.
As per the language tests equivalency chart, a CLB 5 will mean the following score in IELTS, band-wise -
The minimum language skills requirement must be met to be considered eligible to apply under the SUV Program of Canada.
IRCC-approved language tests are -
Do keep in mind that if appearing for the IELTS for the SUV language requirement, you must opt for the IELTS: General Training option. IELTS is offered in two versions - General Training, and Academic.
In situations wherein there are more than one individuals applying as partners in a qualifying business, all of the individual applications must be received before IRCC can commence processing.
Each of the business partners will be required to submit their own application. Don’t submit all applications in a single envelope.
There are nine IRCC-designated angel investor groups that can support a business idea under Canada’s SUV Program.
These are -
One or more investors connected to the above-mentioned groups must agree to invest a minimum of CAD75,000.
There are 36 business incubators that can offer support to a foreign national for setting up an innovative business in Canada through the SUV Program.
These are -
As part of the eligibility for Canada SUV, you might have to be accepted into a program of a designated business incubator.
There are 22 venture capital funds specifically designated by the federal government of Canada to sponsor a business venture under the Start-Up Visa Program.
These are -
At least one of the venture capital funds must agree to invest a minimum of CAD200,000.
A Commitment Certificate is issued to an applicant by a designated private sector business as a confirmation of the agreement between them.
A Letter of Support is given to the applicant by a designated authority as proof of their support to a business idea.
The applications for the Start-Up Visa and short-term work permit will have to be submitted separately.
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