Immigration to Canada has gotten easier these past couple of years, and the Canadian StartUp Visa Program is one way to go about it. Are you a startup founder? Have you created an innovative business that can create job opportunities for Canadians while competing globally? Then, this pathway is what’s best for you.
Who Can Apply For The Canada Startup Visa Program?
- People with a qualifying business: A business is considered “qualified” if it fulfills the following conditions: Each applicant must hold 10% of voting rights to the corporation shares
- Both applicants and the designated organization hold a combined 50% of all business shares.
- Businesses must have active and ongoing management within Canada.
- Business must be incorporated in Canada.
- People who have obtained a letter of support/funding from a designated organization: Designated organizations are business groups that have agreed to invest in the startup.
- People who meet the language requirements must show that they are proficient in communicating in either English or French. A minimum level of Canadian Language Benchmark (CLB) 5 is required in French or English, and the test result must be added to the application.
- People who have enough money to care for their needs while in Canada. The amount needed depends on the size of the family. A family of one would need $13,757, a family of 3 would need $21,055, and a family of 7 would need $36,407. Any additional family member would need an extra $3,706. (This amount gets updated yearly, so confirm the amount on the Canadian immigration website.)
How To Apply
Applications are made online. Sign in, create a Permanent residence online application portal account, and fill in all necessary documents. Signatures and biometrics are also required.
Processing Time and Fee
The average processing time is 37 months (this could increase depending on the complexity of your application), and the fee is $2,140 (for a single person). An additional $1,365 would be paid if you are migrating with a partner, and $230 would be paid per child if you have kids.
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