Start-up Visa Program
Embark on your entrepreneurial journey with the Canada Startup Visa (SUV) program. This initiative encourages foreign entrepreneurs to establish innovative ventures in Canada, contributing to the country's economic growth. The Canada Startup Visa offers a streamlined immigration process, making it easier for aspiring business owners to enter the Canadian business landscape. If you're looking to kickstart your entrepreneurial dreams, the Canada Startup Visa is your pathway to a vibrant startup community and a supportive business environment. Explore the possibilities with this visa program, designed to simplify the immigration process for startup enthusiasts. Choose the Canada SUV visa for a straightforward entry into Canada's thriving entrepreneurial ecosystem.
Start-up Visa Program
Unlock your entrepreneurial potential with the Business Start-Up Visa Canada program, a gateway for innovative thinkers to create job opportunities for Canadians, compete globally, and establish businesses in the country. The Immigration Canada Startup Visa is tailored for those with a vision to contribute to Canada's economic landscape.
Canada, renowned for its robust economy, competitive taxes, low business costs, top-tier infrastructure, and a pro-research environment, stands as an ideal destination for starting a business. The Business Start-Up Visa Canada program offers a streamlined pathway for immigration, fostering an environment conducive to innovation and growth. As we step into 2024, Start-Up Visa Canada continues to be a beacon for entrepreneurs seeking a high-quality life and a thriving business environment. Seize the opportunity to make your mark in Canada's dynamic entrepreneurial landscape with the Start-Up Visa Canada 2024, where business aspirations meet a welcoming and supportive ecosystem.
If you want to apply to the Canada Start-up Visa Program, then you need to
- Before you (the entrepreneur) apply for the Start-up Visa Program, you must have obtained support from a designated organization which have been officially authorized to do so by the Canadian Government. Such designated organizations are set u, to guide you to invest and support. You would receive a LETTER OF SUPPORT from the designated organization that decides to support your Start-up in Canada. This document is very important.
- If your investment comes from the designated venture capital organisation in Canada, then you must secure a minimum of $200,000 as investment
- If your investment comes from a designated Angel investor group from Canada, then you need to secure a minimum of $75,000 as investment
- If you are part of the business incubator program, then you need not secure any investment from such business incubator. For this, you should have been accepted into the Business Incubator Program
5 or lesser number of people can apply for the Start-up Visa program as owners. However,
each one such applicant should have
- A minimum of 10% of voting rights in the business and
- Both the applicants and the designated organization must jointly have more than 50% of the voting rights (The right to vote directly depends on the number of shares each business partner and the designated organization hold in the new venture)
- You (the applicant who is the entrepreneur) must provide document proving successful results, you obtained in the language test conducted by an approved agency. (CLB -5 in all 4 abilities of Reading, writing, speaking and listening)
- You must provide documents to show your financial viability when you move to Canada. You should be in a position to support yourself and your dependents after you arrive in Canada. At any given point of time, you cannot borrow money in Canada.
You can be the founder or co-founder of the organization. Your age nor your background matters under this program. The business idea is what matters the most. It should be raw, innovative and early seed stage. It should be for-profit organization. If your application is successful, then you will receive a letter of invitation from the APS recommended education facility to help you obtain your right VISA. It would be nice if you have obtained a post-graduation degree,
A business incubator is a company authorized by the Canadian Government to help start-up companies by providing services to the Start-ups in the management training or providing office space or such other needs.
Such organizations, help the Canadian government by reviewing and assessing the many business proposals that come to them. If your business proposal gets approved by one such organization, then you get a LETTER OF SUPPORT. There are 3 kinds of organizations who do this. They are either the Designated Business Incubators or Designated Angel investor groups or Designated Venture Capital Funds group.
Minimum Investment For Canada SUV Program
It's important to note that participating in the Canada SUV Program involves various fees, including legal, administrative, government services, and residence requirements. For a family of four, the estimated cost is around CAD$50,000. This amount covers essential aspects of the application process and ensures compliance with the necessary legal and administrative procedures.
In addition to these fees, there is a broader cost associated with participating in the program, which amounts to around CAD$200,000. This is the Canada startup visa minimum investment requirement.
How XIPHIAS Immigration can help you
Navigating the intricate process of the Start-Up Visa Canada 2024 is made seamless with XIPHIAS Immigration. As trusted start-up visa Canada consultants, we prioritize understanding your specific needs and providing tailored guidance for a successful application. Our team facilitates the establishment of crucial interactions and strengthens relationships with designated organizations, crucial for obtaining the coveted LETTER OF SUPPORT. Operating from Dubai, UAE, our expert start-up visa immigration consultants for Canada in Dubai leverage their ICCRC registration to ensure a smooth and efficient process. Rely on XIPHIAS Immigration to guide you through every step, transforming your entrepreneurial aspirations into a reality in Canada.
1. What is Canada Start-up Visa (SUV)?
IRCC first introduced SUV since 2013. SUV aims to attract global startup entrepreneurs to invest, own and manage their Canadian business actively by bringing economic, cultural and social values to Canada and create job opportunities. The SUV business should be innovative and has growth potential to a global scale.
2. What are the benefits and advantages of SUV?
SUV has the following benefits and advantages over other Canada permanent residence (PR) visa pathways.
Here are a few tips to get you started:
- No age limits
- No minimum qualification
- Only minimum English language requirement of CLB5 or General IELTS 5
- No designated capital investment for the main applicant or each member of the team (up to 5 members) – we recommend CAD40,000 as a medium amount for SUV capital investment which is much less than other PNP entrepreneur programs which require CAD200,000 or more
- The main applicant / each member of the team and their dependent spouse and children may work, live and study anywhere in Canada as it is a federal direct PR program.
- As PR of Canada, the applicants and their family members enjoy all social and health benefits, free public-school education for the children and no foreign homebuyers tax.
- 3 years open work permit allows the applicant and spouse to work anywhere with any employer in Canada to earn their monthly salaries to support their family while waiting for their SUV PR decision.
3. How is SUV different from other Canada permanent residence (PR) programs?
Unlike the federal or provincial skilled / entrepreneur programs which are points and business performance (including designated capital investment, no. of full-time jobs of Canadian PR / citizens created, sales achievement etc.) based for the PR application decision, the SUV PR decision is based upon the genuineness of the entrepreneur and the business activities performed throughout the entire application process.
4. Does failure in my SUV business affect my PR visa?
No. SUV PR decision is not based upon your business success, sales turnover or profit earning. In fact, many new startup businesses fail within the first 3 years of operation. The SUV PR decision is based upon the genuineness of the entrepreneur and the business activities performed throughout the entire application process.
5. What is the recommended SUV capital investment for the main applicant or each member of the team?
We recommend about CAD40,000 or more depending upon the nature of your SUV business and total number of members in a team.
6. How many Canadian PR / citizens do I have to hire for my SUV business?
There is no mandatory requirement under the SUV visa requirements to employ how many full time Canadian staff, though one of the program objectives is to create job opportunities in Canada. Throughout your SUV application process, you will certainly create indirect job opportunities in Canada by hiring the Canadian startup, business and IT consultants besides hiring full time Canadian staff as you find fit.
7. Who are eligible for SUV application?
To be eligible for the SUV application, the main applicant or each member of the team meet all the visa requirements below.
- CLB5 or General IELTS 5 English language level
- Enough investment capital with provenance to finance your SUV business incorporated in Canada (we recommend CAD40,000 for the main applicant or each member of the team)
- Enough settlement fund to support your family in Canada (please log on the IRCC official website for exact amount required)
- Your innovative, viable and scalable business idea is accepted by one of the SUV designated organizations
- All the main applicant and family members must have good health and good character.
8. Am I eligible for SUV even though I do not have any IT and/or business experience?
No. You are the SUV investor / entrepreneur who will hire the Canadian consultants to complete all the tasks as instructed by you or work with other team members who have IT and/or business experience and skills complementary to yours. In fact, you may be in any occupation or in any industry to apply for SUV, as long as you have the investment fund, meet the English language requirement and commitment to own and manage your business in Canada.
9. What is the overall SUV success rate according to Canada IRCC?
According to the IRCC visa statistics, the overall success rate of PR grant to all past applicants is very high about 80%. The failure cases are mainly due to the non-compliance by either the designated organizations and/or the applicants.
10. What are the pros and cons in applying the SUV by yourself as the sole practitioner or join as member of a team of up to 5 members?
As a sole owner of your SUV business, you have full control of your funds and business in Canada. You hire, supervise and manage your team of Canadian consultants and staff as the CEO. For a team of up to 5 members, one fails all fail i.e. all team members of a genuine team with complementary skills set are to work together in their SUV partnership business. Please note the team is formed for some good reasons not for the sole purpose of saving money.
11. What are my obligations as a SUV applicant which I have to fulfill to increase the chance of my PR grant?
As a genuine SUV entrepreneur, you are advised to exercise your full due diligence to own and manage your innovative SUV business to create economic, social and cultural values and job opportunities in Canada.
12. Which designated organization will I choose to submit my application and get my Letter of Support?
Designated organizations are Canadian incubators, angel funds and venture capital firms appointed by the IRCC to vet the business idea, provide the incubation program at a fee and the Letter of Support for the applicant’s visa application. Over 70% of all SUV applications have come from the incubators as most of them approve business plans only if the applicant is still in the ideation stage, but the angel funds and venture capital firms would expect the applicants have developed the existing solution and have initial market success.
13. Does the Letter of Support (LOS) guarantee my PR grant?
No. LOS is required for your PR and WP applications. It does not guarantee the PR grant which depends upon the genuineness of the applicant and what are the SUV business activities he has performed before the PR decision.
14. What is the processing time for SUV PR application?
Currently it takes about 36 months to process the PR application, but only 3-4 months for the work permit. The applicant may work and live in Canada with their family members to earn a living while holding the 3 years open work permit and waiting for the PR decision.
15. What are my Canada settlement options while waiting for my SUV PR to be granted?
The SUV is a federal PR visa under which the applicant and all dependent family members may live, work and study anywhere in Canada. The sole owner or the team’s essential person is advised to spend some time (or reside most of time if appropriate) in Canada to manage the SUV business before the PR decision.
16. What should I do while holding my SUV work permit in Canada awaiting my PR decision?
Though the recent IRCC news release stated that the SUV applicant and the spouse will have 3 years open work permit which allows them to work in any job anywhere in Canada, you are advised to spend enough time and resources in managing your SUV business at the same time while you are in Canada e.g. business networking, business meetings with relevant parties, seeking external funding, working with Canadian consultants to complete your SUV project before the PR decision.
12. How to choose my Canadian immigration consultant to process my SUV work permit and PR visa?
It is to your benefit to choose a Canadian RCIC immigration consultant who has many years of successful experience in processing SUV WP and PR over the years. Since 2015, our RCIC consultants, business and project management team have processed over 100 SUV success cases with solid proven experience and expertise to serve our clients to get their PR grant.
18. How to choose my SUV business and IT consultants in Canada?
To create job opportunities for Canadians is one of the SUV visa requirements, therefore you are encouraged to create direct and indirect employment before the PR decision. Since we have been processing SUV for our global clients since 2015, we have been working with many professional Canadian incubators, business and IT consultants who serve our clients with cost-effective services to meet the SUV visa requirements.
19. What are common myths of SUV which may lead to SUV application failure?
The SUV requires the applicant to own and manage the business actively in Canada, not a passive investment program in which you just make an investment without managing the business. Getting the Letter of Support is only the first stage, you (the sole proprietor) or all members of the team are advised to manage the SUV business actively through the application process before the PR decision.
20. Why hundreds of SUV applicants choose Xiphias Immigration to process their SUV applications?
Our SUV clients have chosen and engaged our professional service to process their SUV WP and PR visas because of our following competitive advantages.
- End-to-end whole application process managed and processed by our in-house professional team including Canadian immigration lawyer, RCIC immigration consultant, innovative business consultant, project management team to deliver the best customer experience, fast response and service excellence to our clients – from ideation generation, pitch deck, business plan, cash flow projection, incubation program application, interview coaching to prepare for incubator interview, getting the Letter of Support for visa application, Minimum Viable Product (MVP) design, built and implementation, project management till PR decision and onshore family settlement services.
- 100% success rate in getting the Letter of Support for our SUV clients.
- Processed over 100 SUV clients’ cases in getting their WP and PR granted since 2015.
- Develop innovative SUV business idea for each client tailored to his own personal profile, experience, qualification and passion. In fact, over 15% of our existing SUV clients has been sustaining their SUV business in Canada.
- We connect our SUV clients with our nationwide network of Canadian banks, IT and business consultants, commercial lawyers, accountants and tax consultants who serve them with their professional services including business incorporation in Canada, opening new company bank account.
- Onshore comprehensive family settlement information, assistance and services in Vancouver and Toronto including airport pickup, accommodation and children education etc.
- You are welcomed to join our existing SUV WhatsApp community of over 80 families in Vancouver, Toronto and Hong Kong to Connect, Share and Enjoy together such that all our SUV clients will network and support each other.
XIPHIAS Immigration helps you and guide you in every way to fulfill your dreams to settle in Canada. We have all the expertise to prepare your application and advice you before and after you come to Canada on how to accomplish the conditions put forth by the Canadian Authorities. Now is the time to take advantage of great life style in Canada. The opportunities are unlimited.Our Immigration Coordinators will reply your inquiry within 48 hours and provide you with FREE phone Consultation Service.
Email: [email protected]
Phone: +971-521 021 001