Canada Startup Visa Program

There are so many entrepreneurs who immigrate to Canada to establish their start-ups successfully. Keeping their needs in mind, the Government is also planning to implement more programs to increase employment opportunities.

The Canadian Government also promotes such programs in order to boost their economy and bring in diversity. Amidst all this, one should not forget that the Canadian Start-up Visa is not that easy process. The process has its own legal requirements and criterias. 
 

Eligibility Criteria for Canadian Start-up Visa 

• A minimum of CLB 5 in all the categories (reading, speaking, writing) is required to prove your language proficiency 
• To be able to show that the candidate has enough funds to prove their financial stability
• Candidate should be able to pass all the medical exams
• To able to prove that the start-up business is supported through a designated organization
• To prove your eligibility, you should be able to submit a Commitment Certificate and a Letter of Support 

Essential Credentials - Commitment Certificate and Letter of Support

The investor organization needs to submit a Commitment Certificate to IRCC to show that the applicant has the verified support from either an Angel investor group, Venture capital fund or Business incubator. 

Before that, the candidate needs to qualify the criteria from these designated organizations. The potential start-up businessman should be able secure these minimum investments depending on the organization that supports them. 

• Angel investor group - at least $75,000 
• Venture capital fund - at least $200,000 
• Business incubator - no particular investment is needed

Information regarding the agreement between the investment organization and the applicant is mentioned in this document. 

The main goal is to provide a short overview of the information on the applicant's and the investment organization's commitment.

The investment company will also provide the applicant a letter of support, which the applicant must include with their application for Permanent Residence. 

The documents that the applicant submits must be original and should be submitted on time. For the documentation, you can consult our immigration consultants as they have the expertise and the knowledge of the entire process. They can guide you through the documentation and eligibility criterias for the Start-up program.

Beware of Frauds! -  Peer Review Process

• Peer Review Process is an essential step to protect against the frauds in the Canadian Start-up program. The legitimacy of the agreement between the investment organization and the applicant. 
• An assessment by a peer review panel may be requested by an immigration officer. For instance, the National Angel Capital Organization would be in charge of setting up the peer review panel in the context of an angel investor club. Canada's Venture Capital and Private Equity Association would be in charge if the organization is of Venture Capital Fund.
• Peer reviews process can be started at random, but they can also be requested if the immigration officer feels that it would help them make a decision.
• This process ensures that the company will be set up in Canada and the business ownership has been verified by the authorities. 
• This also makes sure that the designated organization has considered the ability of the business model to grow, assessed the business venture's management team and verified the ownership of the intellectual property.
• The main focus area is on a high-growth potential product or service. 
• It validates and provides acceptance to business incubator applicants. 

What is the Application Fee and Processing Time? 

Immigration to Canada is not that easy. It has a cost structure. $1,625 CAD is the application fee for the Canadian Start-up Visa Program.Permanent residence costs $515 CAD, and accompanying spouses or common-law partners pay $850 CAD in addition to the price of permanent residence. 

The processing time of these applications are typically processed in 12 to 16 months. But, it will depend on the profile type.The applicant and any sponsored family members will be granted Permanent Residence status in Canada upon approval of your application.

Money Required to Settle in Canada 

The table below shows the amount of funds required according to the size of family members -

How does the Toronto Business Development Centre help the Entrepreneurs? 

Toronto Business Development Centre has been recently granted a designated organization status. It is one of the start-up incubators in Canada which brings in skilled entrepreneurs in the country. They help international entrepreneurs and start-up businessmen to immigrate to Canada and scale up their business. 

It is a six-month long visa program that helps the start-up to grow by providing the mentors, investors and working space. Companies from different sectors and industries have been interested in start-ups. Fintech, Edtech, Health sectors and Clean tech are some of them. 

The flexibility of TBDC distinguishes it from other Canadian start-up ventures. This program is also a faster way to obtain Permanent Residency.  

Stark Visas- the Best Canadian Start-up Visa Consultant

With over 7000+ successful applications, Stark Visas serves as the Best Immigration Consultant in Canada. Stark Visas is known for its expertise in immigration to Canada. 

Our immigration consultants will guide you through the documentation process for the Start-up visa. The case representatives ensure that the documentation is error-free and submitted on time. 

Our client’s success is our priority. Stark Visas also provides a personalized approach. Each candidate has different goals and queries. The case representatives will guide you accordingly. They provide the support for pre and post landing services. 

With so many frauds happening around, Stark Visas stands out as a government-verified and IRCC registered team of consultants. They make sure that your immigration journey to Canada is safe and secure.