The startup visa program is one of the ways to obtain permanent residence in Canada and is specific to entrepreneurs who have an innovative business idea and can obtain Canadian permanent residence if they receive the support of one of the selected institutions of the Immigration Department in the following three main groups.
Canadian Venture Capital Fund
Angel Investor Group Angel Investor Group
Incubator Incubator
This program is designed to attract skilled entrepreneurial immigrants with the capacity to create a business in Canada with the following conditions:
• Innovative business
• Ability to create jobs for Canadians
• And competitive on a global scale
The time for examining start-up files has been announced by the Immigration Department between 12 and 16 months.
The capacity of the Canadian startup visa is very limited. According to the law approved in 2012, this capacity will not exceed 2750 cases per year. In 2020, the capacity of the start-up program and self-employment program together was a total of 2000 applicants. In 2021, this capacity was reduced to 1000 cases.
Who is eligible for the startup program?
• Having a qualified business At the time of receiving support from selected organizations, each applicant must have at least 10% of shares (maximum number of members up to five people). Applicants and sponsoring organizations must own more than 50% of shares.
At the time of receiving the residence, the applicant must have active and continuous management in his business.
The business should be registered in Canada and the main part of setting up the business should be done in Canada.
• Having letters of support from selected organizations
You have to connect with selected organizations and convince them that your business idea is worth their support and investment.
• Having the expected level of English
CLB 5 in four skills
Listening, writing, speaking, and reading
• Carrying enough money for accommodation
Showing sufficient capital to support yourself and family members after arriving in Canada and during the start-up of the business (the amount of capital required depends on the number of family members and is updated every year).
Key concepts of this program
• LETTER OF SUPPORT
Receiving a letter of support from one of the three organizations stating their interest in supporting and investing in a business idea
• COMMITMENT CERTIFICATE
The certificate contains information about the agreement between the applicant and the investor organization to support the project, which is sent directly to the immigration office.
• ESSENTIAL members
The essential member is an inseparable member of the project, he is among the necessary people for the development of the project idea, and if the case of the essential member is rejected for any reason, the case of other people mentioned in the commitment letter will also be rejected.
• NON-ESSENTIAL members
There are people without whom the project will be viable and their absence will not seriously harm the development of the idea.
If you have an innovative business idea and meet the requirements for the program, contact Raha Immigration Institute.