Blog Detail

Canada Start-Up Visa Program: Canada is a country who always welcome the Talent. Talent in Canada comes in various forms which help in the development of the Canadian Economy and help Canada in the international market. These may be international students, skilled workers, investors and Start-Ups. 

All these categories address greatly in the growth of the country meanwhile helping the economy. Like all other visa categories, the Start-up Visa program is also a great pathway for your Canadian dream.

You can immigrate to Canada, if you have a cutting edge business idea. An entrepreneur with an inventive idea to start their business in Canada, can get a Canadian Visa under the Start Up visa program.

Canada is always in the search of Talented young people who have the capabilities to boost the economy of the country. Young Entrepreneurs who are interested in starting their own businesses and creating job opportunities in Canada are always welcomed.

Just know about Canada Start-Up Visa Program: 

The Start Up Visa Program: This program gives the opportunities to entrepreneurs who have the ability to start a new business and create job opportunities for Canadians which will help in the growth of the Canadian economy. 

The immigrant entrepreneurs who will get the residency through this program should display the innovation in their business ideas. The innovative ideas should be able to show a strong sense of establishment for the Canadian economy.

Requirements for the startup Visa: The main Requirements for the Canadian startup Visa eligibility are as follows: 

1. Qualifying Business: The applicants must have the minimum 10% of the voting rights in attachment to full company shares. Also a total of 50% voting rights needed to be held by the applicant in the attachment to the shares.
    
2. Letter of Support from the designated organization: The applicants are required to display the support of a venture capital fund, business incubator or angel investor group. For getting the support from any of these, the applicants must first sound their business idea to these and assure them that your idea is worth the support of the organization. Each organization has different perspectives for different ideas so you need to sound your business idea accordingly. If you are successful in sounding your idea, you will receive the support letter from the organization and that will be included in your visa application. 
    
3. Language requirements: The minimum score of CLB 5 in English or French is required for language proficiency in a IRCC approved language proficiency test. 
    
4. Funds:  Candidates must show proof of enough funds for themselves and dependent people to ensure the financial support of everyone included in the application. The required funds depend upon the family size.  The funds can be calculated based on following: Number Of Family Members Funds Required 1     $12,960 2     $16,135 3     $19,836 4     $24,083 $3,492 is required for each additional member in the family. 
    

Designated Organizations: A Letter of Support or a Commitment Certificate is needed to become eligible for the Startup Visa program.  The letter is a proof of support from the designated organization. 
 

These letters basically cover all the relevant details of orderings with the designated organization which may be one or more than one. These letters are cardinal for your Visa application.
 

This is different from Federal and Provincial investor programs, where the capital of the applicant is used. But in this case an investment from the designated organization is required. 

A minimum investment of $75,000 from the Canadian angel investor and a minimum investment of $200,000 from a Canadian venture capital should be sealed by the eligible candidates in case of startup visa. However, on successful acceptance in a Canadian business incubator, no investment capital is needed.  Here are the designated organizations for startup Visa:

Venture Capital Funds: Under Venture capital funds, the organizations are:

• York Entrepreneurship Development Institute (YEDI) VC Fund
• Yaletown Venture Partners Inc.
• Westcap Management Ltd.
• Version One Ventures      
• Vanedge Capital Limited Partnership   
• Top Renergy Inc.      
• ScaleUp Venture Partners, Inc.      
• Relay Ventures
• Real Ventures
• PRIVEQ Capital Funds
• Pangaea Ventures Ltd.
• Nova  Scotia Innovation Corporation (o/a Innovacorp)
• Lumira Ventures     
• iNovia Capital Inc.
• Innovation Platform Capital International LP
• Impression Ventures
• Golden Venture Partners Fund, LP
• Extreme Venture Partners LLP
• Celtic House Venture Partners
• BDC Venture Capital   
• BCF Ventures
• 7 Gate Ventures

Angel Investor Group: These includes

• Canadian International Angel Investors
• Southeastern Ontario Angel Network
• Ekagrata Inc.
• Golden Triangle Angel Network
• TenX Angel Investors Inc.
• York Angel Investors Inc.
• Keiretsu Forum Canada
• Oak Mason Investments Inc.
• VANTEC Angel Network Inc.

Business Incubators: These includes

• Alberta Agriculture and Forestry
  • Agrivalue Processing Business Incubator
  • Food Processing Development Centre
     
• York Entrepreneurship Development Institute
• Waterloo Accelerator Centre
• VIATEC
• TSRV Canada Inc. (operating as Techstars Canada)
• Toronto Business Development Centre (TBDC)
• The DMZ at Ryerson University
• Spring Activator
• Spark Commercialization and Innovation Centre
• Ryerson Futures Inc.
• Real Investment Fund III L.P. o/a FounderFuel
• Platform Calgary
• North Forge Technology Exchange
• Alacrity Foundation
• NEXT Canada
• Millworks Centre for Entrepreneurship
• LaunchPad PEI Inc.
• Launch Academy – Vancouver
• LatAm Startups
• Knowledge Park o/a Planet Hatch
• Invest Ottawa
• Interactive Niagara Media Cluster o/a Innovate Niagara
• Innovacorp
• Highline BETA Inc.
• Genesis Centre
• Extreme Innovations
• Empowered Startups Ltd.
• Creative Destruction Lab
• Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
  
   

How to apply: Following are the steps to apply the Start up Visa:

1. Completely Fill the Application Form to validate.
2. Take out the print of the validated form and add the date and sign.
    
3. Gather all the required documents and seal them in an envelope.
    
4. Add the designed document checklist.
    
5. Pay the application fees for all the family members included in the application (if any)
    
6. Also pay for all the other things like medical exams and police clearance certificates. 
    
7. Ensure the completeness of your application.
    
8. Submit your application.

After submission, your application will be evaluated. It will take around 12 to 16 months for the application processing. 

Summary:

1. A country with opportunities for talented people.
    
2. Many opportunities for applicants who want a start up business in Canada.
    
3. Must have a qualifying business.
    
4. A letter from a designated organization.
    
5. Applicants must have an innovative idea.
    
6. The startup should create new jobs and helps in economy.

       Just know about Canada Work Visa in 10 Days - Global Talent Stream (GTS)