Business Startup2024-02-15T07:26:35+00:00

Invest, Work & Stay in Canada

Business Startup Visa: Your Gateway to Canadian Immigration

The Business Startup Visa program is your ticket to not only launching a successful business venture in Canada but also securing a permanent future in one of the world’s most welcoming and economically stable countries. Designed for innovative entrepreneurs, this program offers a unique pathway to Canadian permanent residence for individuals ready to start a business that can compete on the global stage.

Start your Canadian entrepreneurial journey with potential for permanent residency in about three years of launching your business

The Process at a Glance

  1. Eligibility and Application: To be eligible, you must have a qualifying business idea or plan that receives support from designated Canadian investment organizations. Start by securing a commitment from a venture capital fund, angel investor group, or business incubator.
  2. Work Permit: Upon receiving a commitment, you can apply for a temporary work permit to start building your business in Canada. This initial step allows you to enter the country and start implementing your business plan even before becoming a permanent resident.
  3. Permanent Residence: With your business in motion, the final step is to transition from a temporary work permit to permanent residence. This transition is contingent on your business meeting certain conditions, such as active and ongoing management from within Canada and partaking in the economy through job creation and revenue generation.

Timeline and Expectations

The process from application to obtaining a temporary work permit can take from 4 to 6 months, depending on various factors, including the completeness of your application and the response time of the designated organizations. Transitioning to permanent residence will depend on the success and operational status of your business, typically in about 3 years after your business becomes active in Canada.

Why the Business Startup Visa?

  • Support and Recognition: Your business idea gets the backing of recognized Canadian investment entities, in some cases providing both capital and mentorship.
  • Path to Permanent Residence: Directly ties your entrepreneurial success to your ability to settle in Canada permanently, rewarding your contributions to the economy.
  • Forming a group: The program acknowledges the importance of a strong founding team. Up to five people can apply as owners, and each applicant can bring essential family members, ensuring that your journey to success is a shared one.
  • Global Networking: Access to Canada’s vast entrepreneurial network, from technology hubs in Toronto and Vancouver to innovation centers across the country.

Who Is the Essential Person?

In the context of the Business Startup Visa, an “essential person” is considered critical to the business. If this individual’s application is refused, all other associated applications will also be refused, emphasizing the importance of each member’s role in the venture.

Ignite Your Business Dream in Canada

Canada’s Business Startup Visa program is not just about starting a business; it’s about laying the foundation for your future and the future of your loved ones. It’s an opportunity to bring your entrepreneurial vision to life in a country known for its economic stability, supportive regulatory environment, and access to global markets. Start your journey today, and let Canada be the place where your entrepreneurial dreams become reality.

Minimum Requirements for the Business Startup Visa Program

  • Business Experience: Applicants should have significant business experience running their own business or roles such as senior managers or vice presidents, demonstrating their ability to contribute to a successful venture in Canada.
  • Letter of Support from a Designated Organization: Secure a commitment from a Canadian venture capital fund, angel investor group, or be accepted into a Canadian business incubator program.
  • Language Proficiency: Achieve a minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in speaking, reading, listening, and writing.
  • Proof of Assets: Demonstrate financial stability through proof of assets to ensure you can support yourself and any dependents once you start your business venture in Canada.
  • Education: Must have completed at least one year of post-secondary education, demonstrating that you have the knowledge and skills to contribute to the Canadian economy effectively.
  • Age: While there is no specific age requirement, applicants should be of legal working age in the province or territory they plan to reside in and must demonstrate the ability to be economically established in Canada.
  • Admissibility to Canada: Must be admissible to Canada under Canadian immigration law, meaning you must not have any criminal, security, or health issues that would make you inadmissible.

Secure a Canadian work permit quickly—entrepreneurs can land in Canada within 4-6 months to kickstart their business dreams!

Frequently Asked Questions: Business Startup Visa Program

What is the minimum investment required for the Business Startup Visa Program?2024-02-15T05:28:45+00:00

Applicants do not need to secure investment from a business incubator, but must be accepted into one.For a venture capital fund, you must secure a minimum investment of $200,000. If the investment comes from an angel investor group, the minimum is $75,000.

Can I apply to the Business Startup Visa Program without any business experience?2024-02-15T05:30:49+00:00

While direct entrepreneurial experience is not a strict requirement, the selection process highly values the potential for the success of the proposed business venture in Canada. If you lack traditional entrepreneurial experience but have held significant roles such as a senior manager or Vice President in a business, these positions can demonstrate your business acumen and leadership abilities. Such experience can be leveraged to illustrate your capability to successfully establish and grow a business in Canada, making your application more competitive.

How long does it take to process an application for the Business Startup Visa Program?2024-02-15T05:46:41+00:00

The processing time can vary significantly based on several factors, including the complexity of your business proposal, the responsiveness of the designated organizations, and the current workload of Immigration, Refugees and Citizenship Canada (IRCC). On average, the process can take anywhere between 12 to 36 months from submission to decision.

Can my family accompany me if I move to Canada under the Business Startup Visa Program?2024-02-15T05:47:07+00:00

Yes, your spouse or common-law partner and dependent children can accompany you to Canada under this program. Your spouse or partner may even be eligible for an open work permit to work for any employer in Canada, and dependent children may attend Canadian educational institutions.

What happens if my business fails after I move to Canada?2024-02-15T05:47:29+00:00

The Business Startup Visa is designed to attract entrepreneurs who will contribute to Canada’s economy. While business success is the goal, the permanent resident status granted through this program is not contingent upon the business’s success. If you have been granted permanent residency and your business does not succeed, you will not lose your status, provided you comply with the residency obligations of all permanent residents.

What does Permanent Residency means?2020-10-07T08:22:05+00:00

Permanent residency in Canada is a status given to a person who is not a citizen of Canada. This status is permanent and cannot be revoked. Permanent Residents are allowed to live and work in Canada without worrying about any time constraints on their stay. For becoming a permanent resident, a foreign national must apply to Immigration, Refugees and Citizenship Canada (IRCC), previously known as Citizenship and Immigration Canada. People who become permanent residents of Canada can also attend primary and secondary education institutions in the numerous provincially administered public school systems. Permanent residents also get provincially administered universal health care coverage. You can travel outside Canada while maintaining your status as a permanent resident. However, to remain a permanent resident, you must be physically present in Canada for at least 730 days (2 years) in every 5-year period.

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