Launched as a three-year pilot, Canada’s startup visa program became a permanent program on March 31, 2018. The startup visa program is a permanent residence (PR) pathway for qualified, budding entrepreneurs, which aims to provide mutual benefits to the country as well as the entrepreneurs by opening the door to a world of endless money-making opportunities for them and stimulating an upsurge in the Canadian economy. Immigrant entrepreneurs can be assured of the chance of exploring the Canadian market provided they succeed in demonstrating that their business is innovative, is capable of creating new jobs for Canadians, and thriving on a global scale.

Eligibility criteria:

To qualify under this program, budding entrepreneurs need to fulfill the following eligibility requirements:

1. Qualifying business – Have a qualifying business with atleast 10% of the voting rights attached to all shares of the company and at least 50% of the voting rights attached to all shares of the company inclusive of the designated organization

2. Letter of support – Obtain a letter of support from a designated organization demonstrating the support of a venture capital fund (minimum investment of CAD 200,000), angel investor group (minimum investment of CAD 75,000), or business incubator

3. Language requirements – Meet the minimum language requirements of CLB 5 in all four abilities (reading, writing, listening, speaking) in either French or English by taking a language test from an approved agency

4. Proof of funds – Demonstrate that you have sufficient amount of money to support your survival once you arrive in Canada. The amount to be displayed varies according to the size of the family you are immigrating with.

5. Plan to settle in a province other than Quebec

6. Pass Canadian security and medical clearances

Application process:

The startup visa program is a three-step application process, which typically takes 12-16 months:

1)    Fill out the generic application form

2)    Gather the listed documents in the specified order

3)    Pay the application fees, which include the processing fee, right of permanent residence fee, biometrics, and third-party fees (language, medical, police clearance certificate)

How can Impulse Immigration help you?

We, at Impulse Immigration, will help you in acquiring the letter of support for your business venture and in filing of your PR application. The letter of support is the most important document for any startup visa application, and thus, professional advice and expertise is always recommended. We have tie-ups with professional experts who will guide you through the process of preparing your business plan, creating its outlay, pitching and presenting it to the designated organization, and eventually, obtaining the letter of support. After receiving the letter of support, Impulse Immigration will guide you in submitting a foolproof PR application to the IRCC to maximize your prospects of a positive outcome.