Canada Startup Visa from India

The Canada Start-up Visa program presents an exceptional opportunity for Indian entrepreneurs looking to establish or invest in businesses in an advanced country. Canada's welcoming and diverse business environment, combined with its stable economy and investor-friendly policies, makes it an incredible destination for Indian aspirants seeking to start a new venture or inject capital into existing enterprises. With the robust Canada Investors Immigration Programs in place, the Start-up Visa initiative ensures a streamlined pathway for competent Indian entrepreneurs to contribute to Canada's economic landscape, raising innovation and creating employment opportunities.

What is Canada Start-up Visa?

The Canada Start-up Visa, part of the broader Canada Investors Immigration Programs, is an state-of-the-art immigration pathway designed to attract entrepreneurs internationally, offering a route to permanent residency. This program empowers qualified entrepreneurs to establish start-ups in Canada, contributing to economic growth and nurturing innovation. Successful applicants and their families can enjoy the benefits of Canadian PR (permanent residency). ‘

For Indian entrepreneurs, the Canada Start-up Visa program offers not only a direct path to PR but also enables the infusion of diverse talent and investment into the Canadian business ecosystem. This investor-friendly initiative inspires collaboration, allowing Indian aspirants to setup innovative start-ups or invest in existing businesses, thereby actively contributing to Canada's economic growth and benefiting from the vibrant business landscape facilitated by the Canada Investors Immigration Programs.

Top Reasons for Immense Popularity of Canada Startup Visa Program

• It's a permanent visa that allows you and your family to live and work in Canada permanently
• Up to 5 people can apply for PR via the Start-up Visa Program as owners of a single business
• No net worth threshold or minimal investment funds required
• You get investment support from more than one designated organization
• Only a basic level of English proficiency is required (i.e. CLB 5)
• No age threshold
• Qualification and process to apply are simple and straightforward
• You can apply for Canadian citizenship after spending enough time on a PR visa.
• No minimum educational qualification is required only Business/Senior Management Experience required
• Even if the business fails, permanent resident status won’t be affected
• Get a temporary work permit in Canada and start building your business while the application is under processing

Eligibility Criteria for Canada start-up visa program

There are four essential startup visa Canada requirements you must meet to apply for Canadian startup visa from India:

• Business or Professional Experience
  • You are innovative, and you must have a new business idea for Canada
  • It is preferable that you have some business or professional experience to support PR application.
• Meet the language requirements
  • Make sure you can communicate & work in English/ French.
  • Obtain a language test from an approved agency and meet the minimum level of the CLB 5 in either English or French in all of four language abilities
• Submit a Letter of Support
  • Connect with designated organization to find out how to get its support.
  • Assure the organization that your business idea is worth supporting
  • Obtain a letter of support from the designated organization
• Proof of funds to settle in Canada
  • Provide proof that you have the enough money to support yourself and your dependants upon arriving in Canada.
  • You cannot borrow this money from anyone else.
  • The amount of settlement funds depends on the family size.

Designated organizations for the Canada startup visa program

To be eligible for this visa program, applicants must submit a Letter of Support and Commitment Certificate with their startup visa application. These documents will include the essential details of the arrangement to prove that a designated authority supports the business.

However, unlike provincial and federal investor programs in Canada, where candidates are required to invest their capital, no investment of your funds is necessary for startup visa Canada.

What is fee for Canada Startup visa?

The fee for Canada Start-up Visa starts from $CAN 2,140. This fee was last revised  by Immigration Refugees and Citizenship Canada (IRCC) on April 30, 2022.  In most cases, your fees will comprise the following:

• processing fees for you and anyone you include on your application
• the Right of Permanent Residence Fee (RPRF), i.e. $CAN 515
• biometrics, i.e. $CAN 85 per person
• third-party fees (i.e. medical exam, police certificate, language testing, etc.)

Note: With effect from 14 June 2023, all Canada PR Applicants need to submit Biometrics, even if you have given the same in the last 10 years.

Key designated organizations for Startup Visa Canada

A business idea or venture must be supported by one or more of the following designated organizations:

• Venture capital funds
• Angel investor groups
• Business incubators

Candidates who meet the startup visa Canada requirements must secure:

• At least $75,000 from an angel investor in Canada, or
• At least $200,000 from a Canadian government recognized venture capital fund in Canada

However, if the candidate is accepted into Canada’s recognized business incubator, there is no need for investment capital.

How to apply for a Canada startup visa?

With effect from October 14, 2022, it is now compulsory to apply online. To apply for a Canadian start up visa, you may follow the below listed stepwise process:

Step 1- Business Idea & Experience

You need to have an innovative business idea ready. Moreover, it is preferable that you have some business or professional experience to support your PR application.

Step 2: Language Proficiency

Get a language test result from an approved testing agency, such as IELTS, with a minimum CLB 5 in English /French.

Step 3: Language Proficiency

Get a language test result from an approved testing agency, such as IELTS, with a minimum CLB 5 in English /French.

Step 4: Enough funds

Provide proof that you have enough money to support yourself and your dependents upon arriving in Canada.

Step 5- Submit Visa Application

Fill, sign and submit the Visa application form and all the required documents.

Settlement funds required to apply for Canada Start-up Visa

When you apply for Canada start-up visa, you require providing proof that you have enough funds to support yourself and your dependants upon landing in Canada. You cannot borrow this amount from any other person. The total amount of funds you require depends on the size of your family. The Immigration Refugees and Citizenship Canada (IRCC) update these amounts every year:

Settlement Funds requirement for Start-up visa applicants

 Canadian Work Permit for Start-Up Visa applicants

Those foreign nationals who have received their Letter of Support and Commitment Certificate from a designated entity may apply for short-term work permit under Canada’s International Mobility Program.

To qualify for a work permit, you must have a support from a designated entity, pay the employer compliance fee, and have sufficient funds to meet the cut off criteria of low income for your family for at least 52 weeks.

Also, before submitting your work permit application, you must provide a ‘self-employed’ offer of employment, along with an employer compliance fee payment receipt of $230.

What is the Canada startup visa processing time?

The current processing time for the Canadian startup visa program is approximately 36 months.

This processing time also includes the time taken in giving biometrics, as the authorities may ask the candidate to provide their biometrics along with their applications.

How can Visas Avenue assist you with the Canadian immigration process?

If you are an investor or an entrepreneur, Visas Avenue can assist you in applying for a Canada PR visa. Complete our free assessment form for business immigration to Canada, and one of our associates will assess your eligibility and connect with you to discuss the best Canadian immigration options.

To confirm your eligibility and apply for this visa, you may call Visas Avenue Canada Migration Expert on Toll-Free No. 78-18-000-777 or you can drop us an e-mail at info@visasavenue.com.