1. General Overview

The Canadian government launched the Start-up Visa Program (SUV) in 2013. This provide great opportunities for entrepreneurs possessing the skills and potential to build businesses in Canada that are:

1. Innovative,
2. can create jobs for Canadians,
3. And has the potential to compete on a global scale.

The program’s objective is to provide encouragement and support to talented entrepreneurs who express an interest in launching a business. This provides a way not only to stimulate the Canadian economy but also generate ample employment opportunities for Canadians.

The applicant with innovative business ideas needs support from any one of the following Canadian Government’s authorized Designated Organizations:

1. Angel investor groups
2. Venture capital fund
3. Business incubators

A designated angel investor group must confirm that it is investing at least $75,000 into the qualifying business. A designated venture capital fund’s requirement is $200,000. A business incubator program does not require a minimum investment, and its acceptance serves as its commitment.

2. Eligibility requirements for applicants

1. Owns a qualifying business. Applicants, whether alone or as a group (up to 5), must own more than 50% share of the business. However, each applicant’s share must not be less than 10% with voting rights.
2. The business should be incorporated in Canada.
3. Essential part of the operations of the business happens in Canada.
4. Provide active and ongoing management of this business from within Canada.
5. Get a letter of support from a DO. This could be either a Venture capital fund, Angel investor group, or Business incubator.
6. Meet the minimum language requirements of at least CLB 5 either English or French.
7. Bring enough money to settle in Canada with their families (under $50,000 in most cases)

3. Start-up Applicaiton Process

1. Initially, assessing the candidate’s eligibility for the Start-up Visa Program (SUV) requires their detailed information.
2. Our professional team identifies the right projects for the applicant. The team also identifies the partners required to complete the group for the Start-up.
3. Our team updates the applicant of the innovation, marketing, production, job creation, and financial dimensions of the project. The project will allocate each member a respective position, outlining their future responsibilities in key areas.
4. A Federal Corporation is created under the Canada Business Corporations Act for the identified project. 10% shareholding is allocated as per the understanding and requirements of the program rules given to each applicant.
5. After the preparation of a thorough business plan, the idea is presented to the AI / VC for approval. Once submitted, the AI / VC may wish to communicate with the entrepreneur applicant(s) to discuss the project. Our team will ensure that the applicant is ready and prepared for those discussions. Once AI and VC are approved, it will commit $ 75,000 and $ 200,000, resp, to the project.
6. Upon the acceptance of the project, the AI/ VC issues a Letter of Support (LOS) to the applicant.
7. After LOS, our team will prepare the application for Permanent Residence. Biometric, medical examination and police clearance certificates may be required.
8. Once landed each applicant has to file a monitoring report after 6 months on the progress of their activities.

4. Processing Time

The processing time for the application is around 30 to 36 months. This includes time to give Biometrics.

5. Legal and professional fee

The legal and professional fee for the Angel Investor and Venture Capital streams ranges between USD 150,000 and USD 175,000. This fee covers services provided and includes a minimum equity shareholding of 10% in the company.

For more details please contact our senior immigration consultants and advisors.