Canada Start-up Visa Program

Business immigration programs are usually built around investment. In contrast, for a Canadian startup visa, it is not the amount of capital transferred to the country that is important, but a business idea with a good perspective. Canadian authorities are ready to issue permanent residence to co-founders and their families under this program, as well as help with raising funds and starting a business in their new homeland. This is a relatively new program: in 2013 it was launched as a pilot one  for 5 years, and only in 2018, based on the results of its work, it was launched on a permanent basis.

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Program's details

No initial investment you pay only for paperwork
Permanent residence the opportunity to stay in Canada even if the project fails
For the whole family Spouse and children
Visa-free entry to Canada and 20+ countries of the world
The right to work for the whole family
Medicine education and social guarantees
Income from your own business
Second citizenship after 1095 days of residence in the country

About the Program

Canada is interested in the accelerated growth of finance, as well as  intellectual capital. In the eternal confrontation with the United States, the "northerners" need powerful trump cards to prevent a brain drain. For this purpose, the country stimulates the development of innovations. Promising ideas from abroad are welcome.

Canada is ready to issue permanent residence for those, who are ready to invest their energy, ideas and management experience in the development of the country. Therefore, the main condition of a startup program is a promising application that will interest organizations responsible for supporting innovations.

Business development conditions in Canada can be compared to American ones, but the start-up capital can be much less. As for the projects implemented within the framework of the startup visa project, authorized organizations help with financing: venture funds, business angels and business incubators. A list of them can be found on the official website. For this method of immigration to Canada, you need to start with an application for a project. If you get approved, it will be possible to study the formal requirements for candidates.

When you move to Canada, you will receive a permanent residence permit for an indefinite period of time . This status will remain with you even if the project fails. “We understand that not every business is successful, and this program is designed to distribute risk between the public and private sectors,” the Canadian government website says.

The holder of permanent resident status can apply for citizenship. This requires:

  • to save permanent residence permit,
  • to have lived in Canada for a total of at least 1095 days (this is exactly 3 years) out of the last 5 years,
  • to have no tax debts,
  • to pass an exam on knowledge of civil rights, duties, and the history and modernity of Canada,
  • to prove knowledge of the state language.

Canada recognizes dual citizenship and does not require applicants to give up their first passport.

Please note!

Start-up visa holders can choose any place to live in Canada, except for Quebec.

Minimal Investment

$143 000+

from venture capital fund

To obtain project approval and raise funding from CAD 200,000 (approximately $ 143,000) from an accredited Canadian venture capital fund.

$53 500+

from business angels

To obtain project approval and raise funding from CAD 75,000 (approximately $ 53,500) from an accredited Canadian business angel.

$0+

from a business incubator

The project must be accepted into the business incubator program. In this case, it is not required to attract investments.

For inclusion in the program, some incubators charge a fee - from CAD 10,000 (approximately $ 7,200).

Please note!

From a formal point of view, you do not need to invest your own funds, the investment will be provided by an authorized organization and the applicant only needs to pay the costs of paperwork and life in Canada. However, all applicants for a start-up visa should own shares of the project being created. In addition, it will be easier to get approval (letter of support) for the project if the entrepreneur has not only the idea, but the resources for its implementation as well.

Requirements for Businesses and Applicant

Requirements for businesses and applicant

Each business project can have up to 5 owners who can move with their families and continue working in Canada.

Together with the main applicant, a residence permit can be obtained by his relatives: lawful or common-law spouses, as well as dependent children. Family members will receive the right to work in Canada, and children can receive education.

Business requirements

  • Priority is given to innovative business (IT, communications, biotechnology, pharmacology, etc.).
  • By the time you submit your application, your project may be at different stages of implementation. In some cases, MVPs - the minimum viable product - have more prospects.
  • Each applicant must have at least 10% of all voting shares.
  • Applicants and the designated entity should jointly own more than 50% of all voting shares.
  • After receiving thebpermanent residence permit, the applicant provides active and permanent business management from Canada.
  • Most  of the operations should take place in Canada.
  • The business should be registered in Canada.

Requirements for a candidate

  • To have an intermediate level of French or English (at least 5 points on the Canadian CLB scale).
  • To have sufficient funds to move and live in Canada before your business starts to pay off. The calculation is approximately the following: from 13,000 Canadian dollars (CAD) for the main applicant, plus at least 3,500 for each additional family member.
  • To pass a due diligence and medical examination successfully.
  • To receive a letter of support from the chosen organization - venture fund, business angel, business incubator.

Documents

  • Application form
  • Valid international passport
  • F letter of support for the project from an authorized organization
  • Language test results
  • Birth certificates, internal passports, registration information - for yourself and your spouse
  • Marriage certificate
  • Birth certificates for children
  • Police certificates of no criminal background
  • 2 photos of each person entering
  • Receipts for payment of fees
  • Confirmation that you have sufficient funds to live in Canada

Additional Expenses

Administrative fees

Application processing fee for all included members:: from CAD 2,075.

Permanent residence permit fee - CAD 500. Not paid for dependent children.

Biometrics: CAD 85 per person, CAD 170 per family.

Other fees

Medical examination: CAD 300 - for an adult, CAD 150 - for a child under 14 years old.

Police certificate - is usually issued free of charge.

Language testing - $250. Test scores in English: CELPIP-G and IELTS General Training or French: TEF Canada and TCF Canada can be valid.

Rights and Obligations

Permanent residents (PR) of Canada have the right to:

  • receive most of the same social benefits as Canadian citizens, including health insurance,
  • live, work or study in Canada,
  • apply for Canadian citizenship.

They should:

  • pay taxes,
  • comply with all Canadian laws at the federal, provincial and municipal levels.

Permanent residents may not:

  • vote or run for political office
  • occupy some job positions that require a high level of safety.

To maintain permanent resident status, you must have been in Canada for at least 730 days in total over the past five years.

The procedure for obtaining

1
Consultation with a lawyer
1 week
An immigration lawyer will review your case and help you prepare the paperwork.
2
Project approval
4-6 months
You or your team formulate a business idea and submit it to an authorized organization for review. In case of a positive decision, the organization will send a guarantee certificate to the immigration office and a letter of support to the applicant.
3
Consideration of an application for permanent residence permit
12-16 months
If you meet all the requirements for candidates, you collect documents and apply for permanent residence.
4
Moving to Canada
2-6 months
After receiving a letter of support, you have 2 options. You can look for accomodation and move to Canada on a short-term visa, or continue working on a project at home and move after receiving a positive answer about your permit.
5
Obtaining permanent residence permit
1 day
After confirming the application, you will be given a permanent resident card.

Companies working with this program

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