Start-Up Visa Canada

Start-Up Visa Canada
ASIFCONSULTING

Start-Up Visa Canada: Your Guide to Business Immigration

Start-Up Visa Canada Program can make an innovative mind to turn their dream into reality. Anyone who can compete on a global scale has the assistance of our professionals. Asif Consulting will offer everything you need to know to apply for and succeed with the Start-Up Visa.

What is the Start-Up Visa Program?

The fundamental purpose of the Start-Up Visa Program is to attract innovative entrepreneurs to Canada. Anyone can apply for a Start-up visa program as an individual or part of up to five owners. Anyone with a business idea that is unique, scalable, and can create jobs for Canadians can apply for a Start-up visa. This particular visa can help you establish your business in Canada and gain permanent residency.

Who Can Apply?

To qualify for the Start-Up Visa, candidates must meet four essential criteria:

    • Have a qualifying business: 

    The designated business must be incorporated and carry out things in Canada. Each applicant should be holding 10% or more of voting rights.
    OR
    Candidates and designated organizations should hold more than 50% of the voting rights.

    A qualifying applicant should:

    • Incorporate business in Canada 
    • Provide an active and ongoing management of business.
    • Essential business operations happen in Canada.
    • Secure a commitment from a designated organization:

    You need support from a designated venture or investor group which are approved to support. The candidate needs to contact the designated organization to find out the support. You need to convince the specific organization that you are worth supporting

    • Meet the language requirements: 

    You must demonstrate proficiency in English or French with Canadian Language Benchmark 5. To meet the language requirements, one should appear in language tests done by an approved agency

    • Have sufficient settlement funds: 

    You need to prove that you have enough money to support yourself and your family in Canada. As the Government of Canada will not financially support you financially as a Start-up visa applicant. 

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How to Get a Commitment from a Designated Organization?

It is essential to learn how to secure a commitment from one of the designated organizations for your Start-Up Visa application. We will guide you on how to do it:

Step 1: Research and Connect

Identify the designated organizations that could be perfect for your business idea. These organizations include:

  • Venture capital funds: An investment confirmation of at least CAD 200,000.
  • Angel investor groups: An investment confirmation of at least CAD 75,000.
  • Business incubators: Must accept you into their program.

Step 2: Pitch Your Idea

Prepare a compelling business plan to pitch in. Each organization has its strategies, always do homework and be sure to pitch plans according to the organization’s requirements.

Step 3: Get a Letter of Support

You may get a Letter of Support if any organization agrees to support your business,. This letter is an imperative part of your visa application.

Language Requirements

You must demonstrate your ability to communicate in English or French as we have mentioned earlier. The applicant must meet the minimum level of:

  • Canadian Language Benchmark (CLB) 5 in speaking, listening, reading, and writing.

Settlement Funds

To demonstrate your financial situation, you show enough money to support yourself and your family in Canada. The amount depends on the size of your family. Here are the required funds as of 2024:

  • Single applicant: CAD 13,213
  • Family of 2: CAD 16,449
  • Family of 3: CAD 20,222
  • Family of 4: CAD 24,553
  • Family of 5: CAD 27,847
  • Family of 6: CAD 31,407
  • Family of 7: CAD 34,967

The Application Process

Asif Consulting will guide you through every step of the Start-up Visa application process. Our professionals with expertise will ensure that all documents are accurately prepared and submitted timely. 

Step 1: Prepare Your Documents

Gather all necessary documents. It may include your Letter of Support, proof of language proficiency, and proof of settlement funds.

Step 2: Apply Online

Submit your application through the Immigration, Refugees and Citizenship Canada (IRCC) website. Every candidate should create an online account to start their application.

Step 3: Pay the Fees

The application fee for the Start-Up Visa is CAD 2,075. If you include your spouse or partner, the fee is CAD 1,325. However, CAD 225 is for each dependent child.

Step 4: Wait for Processing

Although processing times can vary it may take around 12 to 16 months. The IRCC will review your application and conduct background checks during the period.

Step 5: Prepare for Arrival

Once your visa is approved, prepare for your move to Canada. Now one should research living in Canada, it includes accommodation, healthcare, and education.

Benefits of the Start-Up Visa

  • Permanent residency
  • Global opportunities
  • Supportive environment
  • Strong economy

The Start-Up Visa Program is an incredible opportunity for entrepreneurs especially innovative ideas. However, to turn your dreams true you need the right preparation and support. Start your journey today with Asif Consulting and become part of Canada’s thriving entrepreneurial community.

Ready to start your business in Canada?

Contact Asif Consulting now for expert guidance and support in preparing and submitting your Start-Up Visa application