Start-Up Visa Canada – Business Immigration to Canada for Entrepreneurs

The federal government of Canada welcomes foreign entrepreneurs to open an innovative, successful business in the country, thereby investing in the Canadian economy and contributing to the creation of new jobs. That is why the Start-Up Visa Program (SUV) is one of the most popular business immigration programs, thanks to which you can get a permanent residence in Canada in a short time with minimal requirements.

What are the requirements in the program?

To be eligible for SUV, each applicant must:

  1. Show the required level of knowledge of English or French (CLB level 5).
  2. Have an appropriate business.
  3. Receive a letter of support from a designated financial institution.
  4. Have enough funds to settle in Canada.
  5. Pass the required medical checks.
  6. Pass a Canadian security screening.

Start-Up Visa Program is a great opportunity for business immigration to Canada for all start-up participants and their families! Up to five entrepreneurs can be included in one application!

The Government of Canada has approved and certified three types of investor organizations and groups to participate in the Start-Up Visa Program. In order to receive a Letter of Support from a designated financial institution, you need to get the right amount of investment.

Venture capital fundsAngel investorsBusiness incubators

Venture capital funds are the authorized organizations that should invest in your start-up. The total investment should be at least 200,000 Canadian dollars. As of 2020, the government approved 22 venture capital funds to invest in Start-Up Visa projects.

Angel investors are venture investors who provide support for start-ups in the early stages. The total investment from business angels should be 75,000 Canadian dollars. As of 2020, the government approved 9 angel investor groups to participate in the program.

Business incubators are special business organizations whose main function is to support start-up projects from the stage of developing an idea to the stage of implementation and commercialization. As of 2020, Canada has authorized 29 business incubators that can host projects wishing to participate in the SUV program.

Obtaining a permanent residence under the Start-Up Visa program occurs immediately after arriving in Canada, and the process itself consists of two main components – the Business phase and the Immigration phase.

Start-Up business consulting support from our partners

Immigration Canada PRO collaborates with a range of business consulting experts on start-up projects. Our partners work directly with designated venture capital funds, angel investor groups and business incubators.

Do you have an innovative business idea that has no analogues in Canada? Have you come up with the know-how that you would like to implement in our country? Contact our company for advice, and we will help you with business immigration to Canada!

Work Permit for Key Start-Up Participants

After receiving a letter of support and submitting an application for permanent residence in Canada, the government allows key start-up participants to apply for a temporary work permit in Canada. The basis for such a work permit is the need to set up a business and prepare the company to start working in Canada. In this case, key participants in a start-up act both as an employer and an employee. In addition, such a work permit does not require a labour market impact assessment (LMIA). Together with a key employee, family members can also come to Canada.

What Happens If My Start-Up Is Not Successful in Canada?

A Start-Up business is always a risk. The success of a start-up depends on many factors. Since a start-up is an innovative business project, and therefore one that has no analogues, no one can guarantee the success of the enterprise. That is why the success of a start-up will not affect your status in Canada after immigration. Obtaining a permanent residence through the SUV is irreversible. Even if the start-up does not succeed and closes, all project participants and members of their families will retain the Canadian permanent residence. Moreover, after three years of living in Canada, you can also apply for Canadian citizenship.

Start-Up Visa can also be a great alternative for wealthy foreigners who cannot complete immigration through other economic immigration programs. If you have sufficient financial resources to participate in existing start-up projects, we can team you up with the existing start-up application!

Start-Up Visa Program: Statistics on Obtaining Permanent Residence

Since the start of the program in 2015, more than a thousand start-up participants have received the status of permanent residents of Canada. In addition, it should be emphasized that the number of successful cases under this business immigration program is growing steadily, which indicates the success of the program.

In 2015, 55 start-up visa applicants came to Canada. In 2016, their number doubled to 110 people. In 2017, 135 start-up entrepreneurs and their families received PR in Canada. In 2018, there was another doubling of successful cases – over 240 applicants received permanent resident status. Finally, in 2019, as many as 515 start-ups immigrated to Canada. For the first quarter of 2020, 115 applicants received permanent residence through the SUV program. Since the launch of the program, 1170 foreigners have already used the program.

Regarding the distribution of provinces to which start-up owners immigrate, about 43% of them settled in Ontario, almost 39% in British Columbia, 9% in Prince Edward Island. The remaining 9% chose other provinces.

Why Should Start-Ups Work with Immigration Canada PRO?

Of the 515 successful cases in 2019, 120 were able to immigrate thanks to our start-up business consultation partners, with only 3 cases that were refused. Moreover, of the applications for permanent residence processed by our immigration consultants, there was not a single refusal. Finally, another important indicator is the survival rate of start-ups. As of the end of 2019, 86% of start-ups that have used the services of our business partners continue to successfully operate in Canada.

If you still have questions regarding the Start-Up Visa Program or would like to evaluate your chances for this program, please contact us!

Disclaimer: All decisions on your application are made solely by the Government of Canada and Immigration, Refugees and Citizenship Canada in particular. The immigration consultant cannot guarantee a positive decision. The immigration consultant can only maximize your chances for a positive decision by properly preparing your application.

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