The Canada Startup Visa Program is part of the economic immigration programs in Canada. It is designed to attract entrepreneurs and innovators with the potential to build and operate innovative and entrepreneurial projects in Canada. Their projects should create jobs for Canadians and be able to compete globally.
After receiving the application, the Canadian Immigration and Citizenship Department reviews and processes it, deciding on granting permanent residence to applicants and their families, a process that takes approximately 35 months.
Benefits of the Startup Visa Program in Canada
The program offers several benefits, including:
- Permanent residence for approved applicants and their families.
- Inclusion of spouses and dependent children under the age of 22.
- Residence anywhere in Canada (except Quebec).
- The ability to obtain a work permit while waiting for permanent residence.
- Access to healthcare and free education for children, with low tuition fees for adults.
- Eligibility to apply for Canadian citizenship after three years of actual residence in Canada.
Requirements of the Startup Visa Program in Canada
The requirements for Canada’s startup visa program are as follows:
- Obtain a Support Letter
Applicants must present their project idea to an organization and secure funding from one or more organizations that are subject to venture capital funds or business incubator programs. These organizations provide the necessary funding and expertise to support the project.
- Pass Language Proficiency Test (CLB5 or higher)
Applicants must demonstrate language proficiency in either English or French, with a minimum of CLB5 in all four language abilities (listening, speaking, reading, and writing).
- Meet Business Ownership Requirements
Applicants are required to invest at least 10% of the startup company’s shares.
- Pass Examinations and Certifications
Applicants and their families must undergo the required medical examinations for immigration to Canada. They must also provide security certificates and biometric data, in addition to proving that they have sufficient funds to live and settle in Canada.
If you are interested in permanent residency in Canada through investment, contact us to book a free consultation by clicking the link here.