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How to apply for Canada’s start-up visa from India?

How to apply for Canada’s start-up visa from India?

The Canada Startup Visa is a program that falls under the Canada Business investment Visa. It intends to draw in immigrant business owners who are prepared to relocate to Canada in order to start a new company there.

The Start-Up Visa Program of Canada seeks to attract immigrant businesspeople with the knowledge and capacity to establish new firms in Canada that can employ Canadians and compete internationally. Startup visa applications will be expedited, and approved candidates will be notified in a matter of weeks.

What qualifications must an entrepreneur meet to obtain a Canada business investment visa or Canadian startup visa?

- Age Restrictions: None.

- No Minimum Education Requirement

- Work Experience: There is no minimum required.

- Requirements for a medical exam: You must pass an IRCC-approved medical examination.

- Family: Entrepreneurs are welcome to bring their families along.

- Income or Net Worth: There is no requirement to provide income or net worth documentation.

What qualifications are needed for a Canada Startup visa?

Entrepreneurs from India must meet the standards listed below in order to be eligible for a Canada Startup visa.

- Own an Eligible Business: A eligible business is one you established that satisfies the criteria listed below:

- demonstrate that at least 50% of the voting rights in the company are held by the designated organizations that support you and that the other 50% are held by you and a maximum of four other people, each of whom has at least 10% of the voting rights.

- Obtain a letter of support from a designated organization (DO) to demonstrate that your company is backed by a DO in Canada. You require a letter of support from those organizations, which include Canadian incubators, venture capital companies, and angel investor groups.

- Meet English Language Requirements: You must demonstrate through an IELTS or CELPIP English test that you have a minimum level of the Canadian Language Benchmark (CLB) 5. This effectively indicates that each module received the following score.

Speaking: 5.0

Reading: 4.0

Listening: 5.0

Writing: 5.0

What is a Start-Up Visa for Canada?

The procedure to obtain a startup visa for Canada is outlined below:

- Profile Evaluation: Evaluation of your profile to determine whether it satisfies the requirements for the company concept under this program.

- Document Assessment: Gathering the necessary paperwork and comparing it to the program's regulations;

- Interview Assistance: Assistance in assembling the application material for submission to the Designated Organization; preparation for the interview; and official assistance.

- Application Submission: Sending the specified organization the applicant's business package;

After a positive interview with the Designated Organization, the candidate must successfully complete a boot camp at a location chosen by the Designated Organization.

- A letter of support from the designated organization is available to applicants who have completed the boot camp requirement;

- Start-up visa application: After receiving a letter of support, helping the applicant and any dependents gather the necessary paperwork to apply for a Start-Up visa for permanent residence;

- PR Application filing: Creating and submitting the PR application on someone else's behalf.

How long does it take to process an application?

Depending on the specifics of each case, the processing time may change depending on when the Letter of Support is received and when other program conditions are satisfied. Based on our experience, processing a startup visa application could take 6 to 12 months.

Canada Business investment visa incubators generally offer supplementary services like office space, tutoring, management training, and even chances for initial capital. Visa Incubator Their goal is to hasten a startup's or early-stage company's growth. It indicates that they have faith in your business idea and want to help you achieve success as soon as feasible if they accept you into an incubator.

Angel investors: at least $75,000 should be invested in your company by this group.

Venture Capital Fund: It should attest to a $200,000 investment in your company.

Business incubator - The applicant must be granted admission to the program by the approved Business Incubator.

List of entities eligible for start-up visas

 Venture capital funds

7 Gate Ventures

Arete Pacific Tech Ventures (VCC) Corp

BCF Ventures

BDC Venture Capital

Celtic House Venture Partners

Extreme Venture Partners LLP

Golden Venture Partners Fund, LP

iNovia Capital Inc.

Intrinsic Venture Capital

Lumira Ventures

Nova Scotia Innovation Corporation (o/a Innovacorp)

PRIVEQ Capital Funds

Real Ventures

Red Leaf Capital Corp

Relay Ventures

ScaleUp Venture Partners, Inc.

Top Renergy Inc.

Vanedge Capital Limited Partnership

Version One Ventures

Westcap Management Ltd.

Yaletown Venture Partners Inc.

York Entrepreneurship Development Institute (YEDI) C Fund

Angel investor groups

Canadian International Angel Investors

ekagrata Inc.

Golden Triangle Angel Network

Keiretsu Forum Canada

Oak Mason Investments Inc.

Southeastern Ontario Angel Network

TenX Angel Investors Inc.

VANTEC Angel Network Inc.

York Angel Investors Inc.

Business incubators

alacrity Foundation

Alberta Agriculture and Forestry

North Forge Technology Exchange

Pacific Technology Ventures

Platform Calgary

What are the costs associated with a Canada Startup Visa?

The principal applicant must pay CAD 2,075 in total, which comprises the right of permanent residence charge (CAD 575) and the application fee (CAD 1,575). (CAD 500). The charge is CAD 1,325 for the Spouse, which includes the application fee (CAD 825) and the right of permanent residence fee (CAD 500).

Each dependent Child would be charged 225 CAD. 

Biometrics Requirements: For a charge of $85 the applicant must submit biometrics (fingerprint scanning and a photograph). If the application processing has already begun, the processing costs are not refundable. The Right of Permanent Residence cost is returnable in the event that your application is denied, you choose to withdraw it, or you decide not to travel to Canada.

How can I get a startup visa for Canada?

You can apply for a Canadian startup visa by following the step-by-step procedure outlined below:

Step 1: Experience & Business Idea

You must be prepared with a creative business idea. Additionally, it would be ideal if your application for a PR was supported by some business or professional expertise.

Second step: language competency

Obtain a language test score with a minimum CLB 5 in English/French from an authorized testing organization, such as IELTS.

Third step: language competency

Obtain a language test score with a minimum CLB 5 in English/French from an authorized testing organization, such as IELTS.

Fourth step: Have sufficient funds

When you arrive in Canada, you must show evidence that you will be able to support yourself and your dependents.

Step 5: Send in your visa application

The visa application form must be completed, signed, and all necessary paperwork must be included.

Canadian Work Permit for Applicants Seeking Start-Up Visa

Foreign nationals may apply for a short-term work permit through Canada's International Mobility Program if they have their Letter of Support and Commitment Certificate from a designated entity.

You must have support from a recognized entity, pay the employer compliance fee, and have enough money to meet the cutoff requirement of low income for your family for at least 52 weeks in order to be eligible for a work permit.

You must also include a "self-employed" offer of employment and a receipt for the $230 employer compliance fee before completing your work visa application.

What are the advantages of an entrepreneurial visa in Canada?

Canada is looking for creative businesspeople with the ability to create exciting organizations that can compete on a global basis. Immigrant business owners will be connected to seasoned private sector groups with experience dealing with start-ups through the Canada business investment visa and Start-Up Visa Program.

For contributing to this economic growth, entrepreneurs can anticipate the following rewards.

- an economy that is strong, stable, and competitive

- low cost of operating

- minimal corporation taxes

- several federal and state incentives for new businesses

- Highly educated and skilled labor force

How much money is needed to get a start-up visa?

The amount required to obtain a Startup Visa for Canada is revised annually and is based on the total number of family members who will be moving to Canada with you. You'll need to provide evidence that you are the true owner of the funds and that they were not borrowed. The money must be in a convertible currency that can be easily transferred.

Total Number of Family Members Required Funds (in Canadian dollars)

1. $12,960

2. $16,135\s3 $19,836

3.  $24,083

4. for each subsequent member of the family: $3,492

Other Important Benefits

- There is no minimum required net worth

- there is no minimum educational requirement

- unconditional right to remain

- Low standards for English proficiency

- No requirement for a minimum income

- No requirement for a minimum investment

How can you submit an application for a Canadian Startup visa?

The Canada business investment visa and Startup Visa Program is for you if you are an Indian entrepreneur who wants to launch your own business there. Contact our knowledgeable team at Swis immigration by filling out this form.

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