Canada - Startup Visa
Launch Your Business in Canada with the Start-up Visa
Emmigranz: Assisting Your Canada Start-Up Visa Journey
The Canada Permanent Residence – Business Immigration Program, specifically the Start-Up Business Class (IMM 5759), is designed to welcome successful businesspeople, entrepreneurs, and innovators seeking new opportunities. Emmigranz is here to guide you through every step of this process.
FAQs
The Canada Startup Visa Program is designed to attract innovative entrepreneurs from around the world to establish their businesses in Canada. It provides a pathway to permanent residency for those who can secure support from designated organizations
To qualify, applicants must:
1. Have a qualifying business that is incorporated in Canada.
2. Secure a letter of support from a designated organization (venture capital fund, angel investor group, or business incubator).
3. Meet language proficiency requirements in English or French.
4. Demonstrate sufficient funds to support themselves and their family upon arrival.
You can receive support from:
1. Venture Capital Funds: Such as BDC Venture Capital, iNovia Capital, and Real Ventures.
2. Angel Investor Groups: Including Canadian International Angel Investors and VANTEC Angel Network.
3. Business Incubators: Like the Creative Destruction Lab and Toronto Business Development Centre.
The processing time for Startup Visa applications typically aims to be completed within six months after submission.
Yes, successful applicants can bring their spouse or common-law partner and dependent children with them to Canada. These family members will also gain permanent resident status.
Understanding the Start-Up Business Program
Canada’s Start-Up Visa (SUV) Program is intended for new businesses operating in Canada and meeting specific criteria. To qualify, your business must secure a commitment from one of the following:
1. Angel Investor Group: A minimum investment of $75,000 CAD.
2. Venture Capital Fund: A minimum investment of $200,000 CAD.
3. Business Incubator: Acceptance into a Canadian business incubator program.
Your business can have up to five partners, each holding at least 10% of the voting rights and collectively controlling more than 50%.
Hold Ownership and Voting Rights
1. Own at least 10% of the voting rights attached to all shares in the company.
2. Together with your designated organization, hold a combined total of at least 50% of the voting rights attached to all shares in the company.
Obtain Support from a Designated Organization
1. Secure a letter of support from a designated organization, such as a venture capital fund, angel investor group, or business incubator.
2. To earn this support, you’ll need to pitch your business idea to the organization and demonstrate its potential. Each organization may have a unique process for evaluating and approving business pitches.
3. If your pitch is successful, you will receive a letter of support, which is a required component of your Start-up Visa application.
Meet Language Requirements
Take a language test from an approved agency and achieve at least Canadian Language Benchmark (CLB) 5 in speaking, reading, listening, and writing, in either English or French.
Provide Proof of Funds
Show that you have enough funds to support yourself and any dependents upon arrival in Canada. The required amount varies depending on the size of your family.
To apply for the SUV Program, you must:
1. Receive a Letter of Support: From a designated angel investor group, venture capital fund, or business incubator.
2. Meet Language Requirements: Proficiency in English or French.
3. Possess Settlement Funds: Sufficient, transferable, and available funds to support your move to Canada, free of debts or other obligations.
Commitment from Designated Entities
A commitment involves an agreement between you and a designated entity (angel investor group, venture capital fund, or business incubator) to establish a qualifying business in Canada. This commitment is formalized through a term sheet/client agreement and a Commitment Certificate.
Qualified Participants and Essential Persons
A Qualified Participant is a person who has received permanent residency through the Start-Up Business Class. Essential Persons are those identified as crucial to the business by the designated entity; if their application is refused, all related applications will also be refused.
How Emmigranz Can Assist You
- Program Assessment: We conduct a comprehensive Startup Visa Program assessment to evaluate your eligibility.
- Expert Guidance: Our experienced team will assist you in preparing your business proposal, securing commitments from designated entities, and navigating the visa application process.
- Document Preparation: We ensure that all your documents meet the required standards and are submitted on time.
- Ongoing Support: From initial consultation to obtaining your Letter of Support and beyond, Emmigranz provides continuous support to facilitate your successful immigration to Canada.
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