Canadian Start-Up Visa program: Immigration for Entrepreneurs
- Post by: Editor
- January 6, 2021
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If you have an innovative business idea and you are looking for some ways to immigrate to Canada, you can get support for your idea from one of the designated organizations, and it might help you to immigrate to Canada.
Canadian Start-Up Visa Program presents Canadian permanent residence to qualified immigrant entrepreneurs. Although, It is officially known as the Canada Start Up Class, it is mostly referred to as the Start-Up Visa program (SUV).
Designated organizations are business groups that are accepted to invest in or support possible start-ups through the Start-up Visa Program.
There are 3 types of designated organizations which are listed below:
- Venture capital funds
- Angel investor groups
- Business incubators
- A designated angel investor group should invest at least $75,000 into the qualifying business. Candidates can also qualify with two or more investments from angel investor groups totally $75,000.
- A designated venture capital fund should confirm that it is investing at least $200,000 into the qualifying business. Candidates can also qualify with two or more commitments from designated venture capital funds totally $200,000.
- A designated business incubator should accept the applicant in its business incubator program.
Who can apply for Canadian Start-Up Visa?
To be qualified for the Start-up Visa Program, you have to:
- have a qualifying business
- get a letter of supporting from a designated organization
- meet the language requirements
- bring enough money with you for settling
International Students and Canadian Start-Up Visa Program
Following are the key benefits of SUV program for international students already living in Canada;
- Fastest processing for Canadian permanent residence
- You can work in Canada even if you’re not eligible for a post-graduation work permit
- Faster work permit issuances while waiting for permanent residence application decision
- No minimum net worth requirement.
Canadian Start Up Visa Program for Already Established Businesses
The Start-up Visa Program is ideal for entrepreneurs with an existing business that is ready for investors. In order to be eligible to apply to the Start-up Visa Program, applicants must have already created their business and secured commitment from a designated Canadian business investment organization or incubator.