Canada Startup Visa Program
Do you want to be a part of the Canada Startup Visa Program? If yes, this blog by Polaris Immigration will help you gain insight. Also, we are filing through a registered immigration practioner. So stay tuned & learn more.
Know About The Process Of The Canada Start-Up Visa Program
The Startup Visa Program is a unique one that is a new Canadian immigration trial-run project. Successful entrepreneur immigrants with this program can come in association with private sector enterprises in Canada. It is for an applicant who can offer guidance and present the know-how for accomplishing a business in Canada and funding. Selected applicants will receive Canadian permanent residency under this immigration program.
Eligibility Requirements for the Startup Visa Program
Learn about the eligibility requirements to easily get hands-on the Canada Startup Visa.
- Education Requirement – Studying for one year at a post-secondary institution is a must for the applicant. Along with this, the applicant must provide documents supporting the fact that he/she scored well in that one year. The documents can include certificates, degrees, transcripts, etc.
- Commitment certificate and Letter of Support – The applicant can attain a letter of support from an elected investor organization ready to invest in the applicant’s proposed business. If you want to immigrate to Canada, it is the most important step you need to follow. The investor organization must also offer a Commitment Certificate straightaway to Immigration and Citizenship Canada.
- Medical and Security clearances – Like every other visa program, the applicant and his family members must go through a medical and Security clearance examination even with Startup Visa Program in Canada. This is to understand whether they are in a perfect health condition or not so that the Canadian healthcare system is not excessively burdened. Also, the authorities will observe whether there is a security threat or not.
Who Can Apply Entrepreneur Visa Canada?
The applicant can apply for a Entrepreneur Visa Canada if you meet the following criterions:
- Fulfill The Language Requisites – The applicant must be proficient in speaking French, English or both. IRCC or Immigration, Refugees, and Citizenship Canada is an approved agency where the applicant can go for a language test to learn whether he/she fulfills the language requirement or not.
- Investment Amount – Setting up a startup business in Canada is only possible when the applicant secures a particular amount from the investor. The minimum amount is as follows:When an angel investor puts forward the investment, the amount will be 75,000 CAD.
When the business receives acceptance in a business incubator program, then it is 0 CAD.
When a Canadian VC presents the investment, the amount will be 200,000 CAD.
Proof Of Adequate Settlement Funds – Attaining a Canadian permanent residence is possible when the applicant carries adequate funds for supporting himself and his family upon immigration to Canada. The settlement fund will vary depending on the size of the family. However, it is important to note that the applicant must notify CBSA or Border Services and Agency if he is carrying more than 10,000 CAD upon entry.
What Is the Processing timeline of the VISA Application?
The timeline for the Visa application process is from 6 to 24 months.
Why Hire Us To Help With Your Startup Visa Application?
When it comes to applying for a Canadian Business Visa, it is not easy to accomplish. Any loophole in the application form or any of the documents can lead to visa rejection. This mainly happens when the applicant is unable to carry out every step perfectly. But at Polaris Immigration, our highly experienced and trained immigration consultants ensure to fulfil every immigration and visa requirement of clients. We present accurate documentation that leads to visa approval in just one go. With the experts, entrepreneur immigrants now receive a golden chance of setting up their startups in Canada. Most importantly, with the Startup Visa Program, the applicant can keep the permanent Canadian residence even when their business fails. Hence, it is time for you to step up with professional consultants for fulfilling business life.