Canadian start-up visa is the first of its kind in the world. Aiming a new type of entrepreneurial immigration through start-up visa, Canada has potentially established creative companies that are able to compete on international levels and create new jobs. Do you have a business idea? If you can attract the support of authorized Canadian organizations to establish your business, it is possible to immigrate to Canada.
Determined Canadian Organizations: to apply for start-up visas, your economic activity or business idea needs to be supported by one of the determined organizations. The organizations choose which business proposal to assess. If an organization chooses your business proposal to investigate, the profitability and growth potential of your business will be assessed. Every organization set their own specific assessment criteria and process. If an organization supports your business idea, you will be informed through a support letter. The organizations include:
- Designated venture capital funds
To be eligible for start-up visa, the candidate must invest at least $200000 in one or more Canadian designated venture capital funds.
- Designated angel investor groups
To obtain start-up visas, candidates need to earn 75000 CAD through investment, if the invested fund is through the investors who are related to at least one Canadian designated angel investor group.
- Designated business incubators
To be eligible for start-up visas, the candidate needs to be confirmed for a designated program related to Canadian economy growth.
There are several reasons for Canada to be the best place for business.
- Welcoming to businesses
- Great economic background
- High-educated workforce
- Low tax rate
- Competitive research and development environment
- Financial stability
- A great place for investment, work and life
To get information on eligibility for start-up visas and Canadian permanent residency, the following points might be helpful:
- You must prove that the business idea you intend to invest in, is supported by a designated Canadian organization.
- Language proficiency
- Sufficient agreed budget
Steps to Apply for Start-up Visa
After your business is supported by a designated organization, and you are assessed to be eligible for the application, the following steps must be considered:
You need to know the processing time by IRCC, which is about how long it may take your immigration and citizenship application to be processed. The processing time can be different depending on the number of citizenship candidates. Various factors may affect the process, including:
- Incomplete applications
- Seasonal changes in work application
- Changes in the process by IRCC
- Other factors which are out of IRCC control
Steps after the Application Is Submitted
What you need to know after application for entering Canada as an immigrant entrepreneur, are as follows:
- How your application is evaluated
- Processing time
- Medical examination
- Police clearance certificate
- Final decision on your application
- Permanent residency approval
Preparation for Entering Canada
You need to be prepared to travel to Canada and what you might expect after immigration.
Get Ready for Travelling to Canada
At the entrance to Canada, you will face Border Service Agency officer. They ask you for the passport and immigration document. Before packing, make sure the required document is accessible. It helps your comfortable entrance to the country.
The following items must be available at the entrance port:
- Valid passport and travel document. You need a legal, individual passport. It is not possible to immigrate with political, governmental, or public affair passports.
- Visa and Confirmation of Permanent Residency (COPR). The officer makes sure that you enter Canada before the visa expiry date. Please note that the document cannot be extended; therefore, the expiry date is significant.
- Evidence on financial affordability to support the candidate and their family.
The immigration officer asks you some questions to make sure you are still eligible for immigration to Canada. The questions are similar to those you had answered for immigration application.
If your reply to the questions is incomplete or wrong, or you cannot convince the officer on your eligibility, you will not be allowed to enter the country.
If you have no problems to enter, the officer lets you in as a permanent resident. Your address must be confirmed by the officer so that the permanent residency card can be mailed to that address.
In case your address changes, IRCC must be informed within 180 days of entering Canada.
If you enter Canada, having over 10000 CAD, the Border Service Agency Officer must be informed. Otherwise, you can be fined or sentenced to prison. It can be in any of the following forms:
- Securities (e.g. stocks, securities, bonds, treasury document)
- Bank statements, cheques, travel cheques, or money order
What can you bring to Canada?
Before travelling to Canada, visit CBSA website for legal and illegal stuff to bring to Canada.