Table Of Content
About Canada Investment Program –
Canada Start-up Visa (SUV)
The Canada Startup Visa Program offers a direct permanent residency in Canada to eligible entrepreneurs and their families who wish to immigrate to Canada in order to establish a start up business. Entrepreneurs present their innovative business ideas to a government designated angel investor group, venture capital fund or business incubator, who will provide a letter of support that will help the entrepreneur to establish the business in Canada. Immigrant entrepreneurs must demonstrate that their businesses are innovative, to have the potential to boost the Canadian economy by creating new jobs for Canadians, and compete on a global scale.
While they are waiting for their permanent residence, entrepreneurs can also pursue a work permit to start and run their business in Canada while awaiting the permanent residency issuance since the application process for the permanent residency takes approximately 12 to 16 months, noting this program does not apply to applicants who intend to reside in the Canadian province of Quebec.
Benefits of the program
This program provide an abundance of benefits, which includes:
- Permanent residency for the applicant and eligible family members.
- Include spouse and dependent children below the age 22.
- Reside anywhere in Canada (Except the province of Quebec).
- Can obtain a work permit while waiting for permanent residency.
- Enjoy free health care and education for children and low tuition fees for adults.
- Apply for Canadian citizenship after three years of physical residency in Canada.
Canada Investment Program –
Canada Start-up Visa (SUV)
There are requirements that the applicant must meet in order to be eligible for the visa:
- Obtain a letter of support from a designated angel investor group, venture capital fund or business incubator.
- Meet the ownership requirement for eligible businesses (each applicant owns 10% at least of the voting rights attached to all of the company’s shares in existence at that time).
- Pass at least Canadian language benchmark (CLB= 5) in all four categories for English or French language.
- Demonstrate you have enough settlement funds depending on the number of family members.
- You provide active and ongoing management of this business from within Canada at the time of receipt of permanent residency .
- Be in good health conditions as per requirements of Canada.
The applicant is required to own at least 10% of the shares of the start-up company in addition to administrative, legal and government fees for submitting residency applications.
Process and steps
- First Step: Create a business plan and collect the required documents.
- Second Step: Obtaining a letter of support from the concerned designated authority.
- Third Step: Transfer the Investment amount and apply for residency.
- Fourth Step: Issuance of residency to travel to Canada.
How to apply:
- Prepare the business plan and submit to the designated angel investor group, venture capital fund or business incubator.
- Prepare the documents required for permanent residence application
- Receive the letter of support from the designated body and submit the application for residency
- Receive the residency
- Travel to Canada and start working in the start up company.