Start Up Visa Pathway (SUV)
The Start-Up Visa Program
The Start-Up has become the new normal to the whole world. It is a bit difficult for traditional business owners to understand the whole Start-Up business Eco-System. In simple words creativity in any traditional or new business is called innovative business idea.
What if we told you that if you have any such innovative business idea, you can secure a straightforward permanent-resident status and citizenship of Canada. The program is designed to link foreign entrepreneurs with the Canadian private sector businesses, (angel investor, venture capital or business incubators) who can help in setting up a start-up business in Canada. A right guidance can help you to procure a letter of support (LOS) from a government-designated organization (angel investor, venture capital or business incubators).
Have a qualifying business:
- each applicant holds 10% or more of the voting rightsattached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners) AND
- applicants and the designated organization jointly hold more than 50%of the total voting rights attached to all shares of the corporation outstanding at that time
At the time you receive your permanent residence:
- you provide active and ongoing management of this business from within Canada
- an essential part of the operations of the business happens in Canada
- this business is incorporated in Canada
Have a letter of support from a designated organization:
- You must get a letter of support from a designated organization(a business group that has been approved to invest in or support possible start-ups).
- In order to do this, you must pitch your business idea and convince the organization that it is worth supporting
- The process of pitching your business idea will be different for each organization
Meet the language requirements:
- You must take a language test from an approved agency and show that you meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in speaking, reading, listening, and writing.
Proof of funds:
- The Government of Canada does not give financial support to new start-up visa immigrants. When you apply, you’ll need to give proof that you have the money to support yourself and your dependents after you arrive in Canada. You can’t borrow this money from another person. The amount you need depends on the size of your family. IRCC update these amounts every year.
Police & Medical Clearance Certificate:
- Be subject to a criminal record check and must provide relevant, non-expired Police Certificates to facilitate this process.
- Submit medical exam results from a panel physician (not your personal/family doctor) to ensure you are medically admissible.
For each additional family member