What we cover in this blog
- How to apply for the Canada Startup Visa Program?
- What is the process of getting a Canada Startup Visa Program?
- How do I get eligible for the Canada Startup Visa Program?
- What are the key requirements for the Canada Startup Visa Program?
- What is the strategy to get a Canada Startup Visa easily?
- How do I get Canadian residency through investment?
- What is the cost and timeline for a Canada start-up visa?
In Our blog
We will come up with a new visa program named the Canada Startup Visa Program that is offered by the Canadian government to everyone who wants to come to Canada and settle there. We will explain to you in detail the process, requirements, and all the key factors that you need to consider to get this visa.
Let’s start the discussion
Before going further, it is important to tell you about this visa program, and you might think:
What is Canada’s Startup Visa Program?
This visa is basically for the purpose of bringing new talent to the Canadian market that actually brings creativity and value to Canadian business markets.
How can I get Canada’s Startup Visa?
If you are an entrepreneur and have some ideas that bring creativity and value and want to move to Canada, then applying for the Canada Start-Up Visa Program is the most suitable option for you.
Remember that, Canada is welcoming to those who bring value to their business market and develop their startups, particularly in the tech industry. That means you can get this visa by showcasing your idea that is acceptable to their given bodies, which we will discuss later on.
Does Canada’s Startup Visa Program require a work permit?
The benefit of this program is that it does not require you to meet certain requirements, e.g., work permits and other points-based systems that lead to permanent residence (PR) in Canada.
So don’t worry, you do not need to have a work permit to apply for Canada’s Startup Visa, but you do need to have at least some ideas that you think would benefit and bring value to the Canadian business market.
What is the age requirement for a Canada Startup Visa?
There is no specific age requirement for Canada’s Startup Visa, and this makes this visa unique because other visas have certain requirements, e.g., Canada permanent residency requires certain points, and your age affects your points. That’s because the older you are, the more your point will be less than that of those who are younger.
However, with Canada’s Startup Visa, you can even go to Canada if you are 40 or 50 years old. This means age does not matter for this kind of visa.
What is the eligibility criteria for Canada Startup Visa?
To qualify for the Canadian Startup Visa:
1. An individual owns a valid business.
2. You hold a minimum of 10% of the company’s shares with voting power.
3. Your startup must be supported by a Canadian organization or designated body.
4. A letter of support is important to have with you, and this letter should be from government-selected bodies.
5. Your business must operate in the territory of Canada.
6. The business will be established in Canada.
How to get a support letter in Canada?
You can get a support letter if you submit your business idea or proposal to the designated organizations. Once your proposal is accepted by these bodies, they will give you a support letter for your startup venture.
These are the designated organizations:
- Venture capital funds
- Angel investor groups
- Business incubators
Why is the support letter crucial for the Canada Startup Visa program?
The support letter is very crucial for your business because if these designated organizations accept your proposal or business idea, then they will issue a support letter, which is a key document to start your process.
How much investment is needed for a startup venture in Canada?
It depends on the business or venture that you offer. However, what’s notable is that this investment often comes from specific groups of companies operating under designated organizations, such as venture capital funds, angel investor groups, and business incubators.
Why is it so important that your idea gets accepted?
The reason behind this is that if one of the above-designated organizations accepts your business idea, then the group of companies working under them has to make an investment in your startup venture. This amount varies from organization to organization, depending on which organization accepts your business idea.
Let’s understand this with an example
Suppose your idea or startup plan is accepted by Venture Capital; then the group working under Venture Capital will invest around $200,000 in your startup business. If it is accepted by other organizations, then it would be counted in a different way. Learn more about Getting Support Letter in Canada
Language Proficiency Requirement for Canada Startup Visa?
If you are an expert in English or French, you can easily apply for this visa. However, if you know French as well, then you have a better chance of operating your business successfully in Canada.
What should be the minimum score of the Canadian Language Benchmark (CLB) level to apply for a Canadian start-up visa?
The minimum score of the Canadian Language Benchmark (CLB) is 5 for all four abilities.
Important Note for you
Here, the meaning of the four abilities is the same as when you take the ILETS exam, where you have to take four models, e.g., speaking, listing, writing, and reading. Explore CBL Score Requirements
Is the IELTS certificate acceptable for the Canada Startup Visa program?
Yes, IELTS is acceptable for a Canada startup visa, but it should not be older than two years, which is a standard requirement if you have already gone through the IELTS exam.
How to take the IELTS exam?
You can take the IELTS exam by applying online through their website and paying the fee online through a bank or card, and then they will send you all the details for the exam, e.g., place, timing, etc.
Important Note for you
Remember that the IELTS exam varies from country to country in terms of fees and the exam. Read more about IELTS exam
How much money is needed to have a visa?
You must demonstrate adequate resources to support yourselves and your dependents if you want to go with them as well.
A minimum of 13757 Canadian dollars must be with you as a person to support yourself in Canada.
If you take more, then it will be counted like this:
• 1 family member: $13,757
• 2 family members: $17,127
• 3 family members: $21,055
• 4 family members: $25,564
• 5 family members: $28,994
The amount is in Canadian dollars.
Important Note for you
This is the fund that you need to have with you when you apply for a Canada Startup Visa. Learn more about Canada Startup Visa Fund
Can i take a family member with me? If you have a Canada Startup Visa?
Yes, you can take your family as a dependent with you, but you have to remember that the requirements will change when you take your family with you, especially the amount that you need to support yourself. There are many other things to consider.
How many people are allowed to take on your Canada Startup Visa?
There are five people you can take with you based on your start-up business. But Canada’s immigration rules and policies change from time to time. Learn more about Canada Startup Visa Updates
What is the cost of this Canada Startup Visa?
The visa fee is $2,140, but the government changes it from time to time. Learn more about Canada Startup Visa Application Fee
How long does it take to get a Canada startup visa?
You have to remember that it is a long journey, and you have to go through many things to get this visa because the process takes at least 37 months. So bear in mind that it will take around 3 years to get Canada startup visa, and you need to have patience.
How is a Canada Startup Visa different from a work permit?
This visa is not for general business activities but specifically targets startups with the potential to make a significant impact on the startup market and bring new jobs to the Canadian market.
While a work permit visa requires a job before applying for a visa, with this startup visa, you have your own startup venture that brings value to the business market in Canada instead of any typical job.
What is your strategy to improve your chances of getting a Canada Startup Visa?
To enhance your prospects of obtaining a Canada start-up visa, it’s crucial to develop a comprehensive business plan along with a solid understanding of the Canadian market. By focusing on these aspects, you can streamline and improve the accuracy of your visa application process, increasing the likelihood of receiving a positive decision on your visa.
Important Note for you
This program is not that easy or smooth, and you have to go through many things throughout the process, but if you are aware of every single piece of information related to the visa process, then you can handle your case better.
How do I get a Canada Startup Visa successfully?
As discussed earlier, the Canada startup visa is not a common visa like a work permit; it’s more than that. If you’re a tech industry professional focusing on innovation and creativity,. In addition, if you’re confident that your business idea is unique and will bring value to the Canadian business market, you have a higher chance of obtaining a Canada startup visa without any trouble. The crucial factor is having your unique business proposal accepted by designated bodies, which is key to obtaining the visa successfully.
A pro-tip for you
We suggest you learn the French language because Canadian immigration officials highlight that if you know the French language, your chances of getting a visa as well as the success of your business will be higher.
Which French test is required for the Canada Startup Visa program?
The Canadian government emphasizes that if you know French, you will have a greater chance of success in your startup venture in Canada.
For the Canada Startup Visa Program, you have to take only these two tests:
- TEF Canada: Test d’évaluation de français
- TCF Canada: Test de connaissance du français
Important Note for you
Both tests are administered by the Paris Chamber of Commerce and Industry. Explore more detail about TFC and TEF exams
Benefits of the French Language
Furthermore, if you learn French, you will have a plus point not only in Canada but also in other countries because French is very common in many countries, and your profile will be better if you add additional language to your resume apart from this Canada startup visa, which is our key success point here.
How to apply for a Canada Startup Visa Program?
The application process is simple, meaning you can apply online through the official immigration portal. Learn more about Canada Startup Visa Application Process
Is there any other option to move to Canada quickly?
If you are interested in a Canada visa, then I suggest you move to Canada through the student direct stream of SDS. The Canadian government recently started this program at the start of 2024. Through this program, international students can get study visas quickly, probably in 20 to 30 days, approximately. Read more about student direct stream SDS program.
To sum up this discussion, with Key Notes
A Canada startup visa is a great opportunity for you to take if you are innovative and bring something new to the Canadian market.
Yes, it is a time-consuming process, but we suggest you apply for this program as soon as possible, even though you are already running your venture. But remember that you can only get this visa if you bring value to the Canadian market, which is the prime goal of this visa program.
If you know you can bring something new or creative to them that they need in their business market, then go for it without any hesitation. Nothing is simple and easy, and everything needs time, effort, and a constant approach.
Disclaimer
While we make an effort to offer accurate and current information, it is advisable to independently verify the details on the official Canada Immigration website for absolute accuracy and clarity.
Our blog’s objective is to offer helpful information and direction for completing the Canada startup visa application process. It is important to rely on the official resources and procedures outlined by the relevant immigration authorities to ensure the most precise and up-to-date information for your application.
What do we hope from you?
We hope that this blog post has improved your understanding of how to apply for and get a Canadian startup visa.
However, if you have any questions to ask, you are welcome to leave a comment below or get in touch with us at support@migratewisdom.com.
