Canada’s Start-Up Visa Program, launched by Canadian Immigration and Citizenship on April 1, 2013, offers Canadian permanent residence to qualified immigrant entrepreneurs. It is officially known as the Canada Start-up Class.But it is largely referred to as the Start-Up Visa program (SUV).
The program targets innovative entrepreneurs and links them with private sector investors in Canada who will help establish their start-up business.
Candidates can initially come to Canada on a work permit supported by their designated Canada-based investor, before qualifying for permanent residence once their business is up and running.
There are three types of private-sector investor:
Venture capital fund.
Short processing time (around 12 - 18 months)
No proof of financial responsibility.
Live in any city in Canada, except Quebec.
All family members will be granted permanent residence.
Have certain rights and responsibilities as Canadian citizens.
Possibility to apply for Canadian citizenship after 3 years of permanent residence.
Have a qualifying business: each applicant holds 10% or more of the voting rights attached to all shares of the corporation; and, applicants together with the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at the time the applicant get a commitment from a designated organization.
Get a letter of support from a designated organization.
Meet the language requirements: minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all of these four areas: speaking/ reading/ listening/writing.
Give proof of financial ability for living in Canada.
Be in good health and have no criminal record.
Stage I - Make business startup planning
Stage II - Present business plan to designated investor organizations for Letter of Support.
Stage III - Submit documents as requirement.
Stage IV - Apply for a temporary Work Permit to get to Canada and start building business.
Stage V - Receive permanent residence if approval.
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