Canada Start-Up Visa

Canada Start-Up Visa from India

The Canada Start-Up Visa program offers a unique opportunity for Indian entrepreneurs aiming to launch or invest in businesses in a prosperous country. With Canada’s open and diverse business environment, combined with its stable economy and investor-friendly policies, it provides an ideal destination for Indian entrepreneurs seeking to establish new ventures or inject capital into existing businesses. The comprehensive Canada Investors Immigration Programs ensure a smooth pathway for skilled Indian entrepreneurs to contribute to Canada's economic growth, boost innovation, and create job opportunities.

What is the Canada Start-Up Visa?

The Canada Start-Up Visa, part of the broader Canada Investors Immigration Programs, is a forward-thinking immigration pathway designed to attract global entrepreneurs. This program provides a route to permanent residency for qualified entrepreneurs who wish to establish start-ups in Canada. By supporting business growth, it fosters economic development and nurtures innovation. Successful applicants and their families can enjoy the benefits of Canadian permanent residency.

For Indian entrepreneurs, the Canada Start-Up Visa not only offers a direct route to PR but also facilitates the infusion of talent and capital into Canada's vibrant business ecosystem. This investor-friendly initiative encourages collaboration, enabling Indian entrepreneurs to launch innovative start-ups or invest in existing businesses, thereby playing a significant role in Canada's economic development.

Key Reasons for the Popularity of the Canada Start-Up Visa Program:

Permanent residency allows you and your family to live and work in Canada indefinitely.

Up to 5 individuals can apply for PR as owners of a single business.

No minimum net worth or investment funds are required.

You will receive investment support from one or more designated organizations.

Only basic proficiency in English (CLB 5) is required.

No age limit for applicants.

The application process is straightforward.

You can apply for Canadian citizenship after meeting residency requirements.

No specific educational qualifications required, just business or senior management experience.

Even if the business fails, your permanent residency status remains unaffected.

A temporary work permit allows you to start your business while your application is in process.

Eligibility Criteria for the Canada Start-Up Visa Program:

To apply for the Canada Start-Up Visa from India, you must meet the following essential requirements:

Business or Professional Experience: You must have a new business idea for Canada, and prior business experience is preferred to support your PR application.

Language Requirements: You must meet the minimum CLB 5 level in English or French. This can be demonstrated through language tests from approved agencies.

Letter of Support: You need support from a designated organization, such as a venture capital fund, angel investor group, or business incubator. A letter of support from the designated organization is necessary for your application.

Proof of Funds: You must provide evidence of sufficient funds to support yourself and your dependents upon arrival in Canada. The funds cannot be borrowed from others.

Designated Organizations for the Canada Start-Up Visa Program:

To qualify, applicants must secure a Letter of Support from one of the following designated organizations:

Venture Capital Funds

Angel Investor Groups

Business Incubators

Investment requirements include:

At least $75,000 from an angel investor, or

At least $200,000 from a recognized venture capital fund. Alternatively, if accepted into a recognized business incubator, no investment capital is required.

Fees for the Canada Start-Up Visa:

The fee for the Canada Start-Up Visa starts at $2,140 CAD. This fee, revised on April 30, 2022, includes:

Processing fees for you and any family members included in your application

The Right of Permanent Residence Fee (RPRF), which is $515 CAD

Biometrics fee: $85 CAD per person

Third-party fees(medical exams, police certificates, language testing, etc.)

Note: As of June 14, 2023, all PR applicants need to submit biometrics, even if already submitted in the past 10 years.

How to Apply for a Canada Start-Up Visa?

Since October 14, 2022, the application process for the Start-Up Visa is exclusively online. Follow these steps:

Develop Your Business Idea & Experience: Ensure you have a unique business idea and relevant business or professional experience to support your application.

Language Proficiency: Obtain language test results from an approved agency (e.g., IELTS) with a minimum CLB 5 in English or French.

Provide Proof of Funds: Demonstrate you have sufficient funds to support yourself and your dependents upon arrival in Canada.

Submit Your Visa Application: Complete the application form, sign it, and submit all required documents.

Settlement Funds Requirement:

When applying for the Canada Start-Up Visa, you need to provide proof of sufficient funds to support yourself and your dependents. The required amount varies based on family size:

1. Family member: $13,757 CAD

2. Family members: $17,127 CAD

3.Family members: $21,055 CAD

4. Family members: $25,564 CAD

5.Family members: $28,994 CAD

6.Family members: $32,700 CAD

7. Family members: $3,706 for each additional person.

Canadian Work Permit for Start-Up Visa Applicants:

Start-up Visa applicants who receive a Letter of Support and Commitment Certificate from a designated entity may apply for a short-term work permit under Canada’s International Mobility Program. This allows applicants to begin building their business while their application is under process.

Processing Time for the Canada Start-Up Visa:

The processing time for the Canada Start-Up Visa is approximately 36 months. This includes the time required for biometrics, as applicants may be asked to provide biometrics during the process.

How Can Vagmi Journey Assist You?

If you're an investor or entrepreneur seeking a Canada PR visa, Vagmi Journey can guide you through the application process. Complete our free assessment form for business immigration to Canada, and one of our experts will assess your eligibility and connect with you to explore the best Canadian immigration options.