Start- Up Visa Program: Navigating Canada's
Start-Up Visa Program. Your Path to Residency
and Entrepreneurial Achievement.
Are you an entrepreneur looking to establish a business in Canada and secure permanent residency? The Start-Up Visa (SUV) Program offers a strategic pathway for innovative individuals like you. This article provides a comprehensive guide to Canada's SUV Program, detailing eligibility requirements, application procedures, and how Canvest can assist you throughout the process.
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Canada's Start-Up Visa Program is designed to attract entrepreneurs with innovative business ideas that can contribute to the Canadian economy. Endorsed by designated organizations such as venture capital funds and business incubators, this program expedites the immigration process for individuals who demonstrate the potential for significant business growth and job creation.​
Eligibility Criteria
01
Each applicant must hold at least 10% of the total voting rights in the business, and together with the designated organization, must hold more than 50% of the total voting rights.
Qualifying Business
02
Secure a letter of support from a designated organization that believes in the viability of your business idea. The organization will also provide a commitment certificate directly to (IRCC) as part of your application.
Letter of Support
03
Achieve a minimum of CLB 5 in English or French for listening, reading, writing, and speaking. This proficiency level ensures effective communication & integration into the Canadian business environment.
Language Proficiency
04
Demonstrate sufficient funds to support yourself and your dependents after arriving in Canada. The required amount varies based on family size, with updates published annually by IRCC.
Settlement Funds
Application Procedures
The application process for the SUV Program involves several steps:
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Obtain Designated Organization Support: Contact a designated organization to discuss your business proposal and secure their endorsement.
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Submit Application: Complete the application forms and provide necessary documentation, including the commitment certificate from the designated organization.
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Processing and Decision: IRCC will assess your application for completeness and adherence to program requirements. If approved, you will receive a Confirmation of Permanent Residence (COPR) and can proceed with your plans to immigrate to Canada.
Each designated organization can support up to 10 complete group applications per calendar year until December 31, 2026. Applications are processed on a first-come, first-served basis. If the annual cap is reached, subsequent applications will be returned with processing fees reimbursed.
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While your application for permanent residence is under review, you can apply for a temporary work permit to travel to Canada and initiate business operations.
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It's essential to bring sufficient funds to support yourself and your family upon arrival in Canada. Ensure you have the required amount based on your family size and consider additional funds to facilitate relocation and initial business setup.
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Explore the opportunities offered by Canada's Start-Up Visa Program to achieve your entrepreneurial goals and secure Canadian residency. Whether you're driven by innovation, seeking a better future for your family, or eager to capitalize on Canada's vibrant business environment, this program provides a clear pathway to success. Contact Canvest today to begin your journey towards establishing your business in Canada.
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Contact Canvest now to discover how we can support your application for the Start-Up Visa Program and guide you through every step towards realizing your entrepreneurial ambitions in Canada. Your future begins with Canvest!