Business Visa - Start Up Visa Program for PR

Canada Business Visa

Canada’s growing economy is largely founded upon small and medium size businesses. By securing a Canada Business Visa based on Canadian Business Immigration streams, you too can be part of the vibrant Canadian Economy.

If you are self-employed or an entrepreneur, immigration to Canada is possible through a route known as Business Class Immigration. A business visa for Canada is an excellent immigration route for those who wish to set up their business within Canada.

Programs within the business class are designed to help create businesses which will invest in Canada and contribute to growth of the economy as well as create employment opportunities for Canadians across the country, both at Federal and Provincial levels.

Business Visa - Start Up Visa Program for Permanent Residency

Some popular programs available which require a Business Visa within Business Class Immigration include:

• Provincial Nominee Programs (Business)
• Entrepreneur Start Up Visa Program

To understand Canada Business Visa requirements in detail and understand your eligibility for business class immigration, contact our immigration consultants.

What is the Start-up Visa program?

Canada’s Start-Up Visa (SUV) allows foreign entrepreneurs to obtain permanent residence in Canada through business immigration. Owners of innovative start-ups or established foreign companies may be able to use this program to permanently relocate to Canada along with other founding partners (up to 5 partners), provided that they meet other requirements for the program.

Immigrant entrepreneurs must demonstrate that their business is original, will create new jobs for Canadians, and can compete on a global scale.

Start-Up Visa Canada: Eligibility Requirements

Below is the list of requirements as set by the Canadian immigration authorities for entrepreneurs who wish to apply for permanent residence in Canada under the SUV program:

1. Have a letter of support from a designated organization :

Before you can apply for the Start-up Visa program, your business venture or idea must get support from one or more of the designated organizations pre-approved by the SUV program to invest in or support start-ups. This support is also referred to as a “commitment.”

• • We will help support you in finding the support of a venture capital fund, angel investor group, or business incubator
  • You are required to create a pitch-deck for your business idea and convince the designated organization to support your business idea/plan. Our experts will help you in this process. Please contact us for further assistance.
  • If a designated organization decides to support your business, it provides you a letter of support which must be submitted as part of your SUV application. Each letter of support is valid for a period of six months from the date it is issued. This means your application for permanent residence under the Start-up Business Class must be submitted within six months of the letter of support being issued.

2. Have a qualifying business :

      A qualifying business means that at the time of your application to the SUV program, you or your business venture meet all of the following criteria:

• Each SUV program applicant holds 10 per cent or more of the voting rights attached to all shares of the corporation (up to five people can apply as owners.)
• All applicants and the designated organization (or organizations, as there can be more than one) jointly hold more than 50 per cent of the total voting rights attached to all shares of the corporation outstanding at that time.

      Note that, if you are successful in your application, at the time you receive your permanent residence, you must:

• Ensure the business is  incorporated in Canada (consideration may be made if incorporation is conditional upon obtaining PR.)
• Ensure an essential part of the business operations are in Canada.
• Provide active and ongoing management of the business within Canada.

3. Meet the language requirements :

• You must take a language test from an approved agency and show that you meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in speaking, reading, listening, and writing.
• Your language test results will be valid for two years from the date of your test.

4. Proof of settlement funds:

• The Government of Canada does not give financial support to new Start-up Visa immigrants.
• When you apply, you need to provide proof that you have the money to support yourself and your dependents after you arrive in Canada. You cannot borrow this money from another person.
• The amount you need depends on the size of your family and is updated by the government every year

In addition to the above, to be successful in this program, entrepreneurs should be prepared to also meet the following basic criteria:

• Ownership of an innovative or successful business that is generating scalable and sustainable revenue or has strong market validation;
• Access to capital fund your start-up venture, usually around  $200,000 at a minimum per applicant;
• Have highly specialized knowledge or unique experience in your field or have solid managerial experience

Applying for permanent residence under the Start-up Visa program

Once you’re eligible to apply for permanent residence under the Start-up Visa program, you can do so online or on paper from within Canada, or your home country. To complete your application, use the document checklist provided by the IRCC.

Essential documents required to apply for PR under the SUV program: 

• Generic Application Form to Canada (IMM 0008) 
• Additional dependents declaration, if needed 
• Background/declaration (IMM 5669) with a detailed personal history from the last 10 years or since the age of 18 including work experience, education, unemployment periods, etc.  
• Business Immigration programs – Start up business class (IMM 0008 – Schedule 13) form     
• Additional family information (IMM 5406)
• Passports or travel documents
• Proof of language proficiency (IELTS, CELPIP, or TEF)
• Letter of support from your designated organization
• Identification documents for yourself and your family
• Police certificates
• Medical exams
• Proof of readily transferable funds in a convertible currency in the required amounts based on the number of family members applying.

To make sure you have a complete application, you must answer all questions and sign your application and all the forms.

You are also required to pay all fees, including a biometrics fee to cover the cost of collecting fingerprints and a digital photo, processing fees, and the Right of Permanent Residence Fee (RPRF).

If there are multiple people applying for permanent residence  as partners in a qualifying business, no applications will be processed until all are received. Each business partner must submit their own application.

Once you meet the eligibility criteria, complete your biometrics, and pass the medical exams and police background checks, a decision will be made on your application. If your application is approved, you’ll receive a Confirmation of Permanent Residence (COPR) and, if you’re outside Canada, you’ll be asked to get a visa stamped on your passport.

How much time does it take for Start-up Visa applications to be processed? 

Currently, SUV applicants can expect the entire process to take approximately 32 months. This can vary based on the completion status of your application, the ease with which your information can be verified, and any pending backlog of applications. 

Apply for a temporary work permit

While your application for PR is being processed, you can apply for a temporary work permit to move to Canada sooner, and start building your business. This step is optional. You can apply for a work permit, before or after submitting your PR application. 

To be eligible to apply for a temporary work permit, you must:

• Plan to live in a province or territory outside Quebec.
• Have a letter of support issued by a designated entity showing you’re an essential worker and that you need a work permit.
• Provide proof that you have enough money to support yourself and your family for a 52-week period.
• Submit your “self-employed” offer of employment

Submitting your self-employed offer of employment 

Before you can complete your application for a temporary work permit, you need to submit your offer of employment, as well as pay the employer compliance fee of $230. Since you’re an SUV program applicant and are self-employed, you act as the employer and submit the offer of employment for yourself.

Reasons for Rejection of a Start-Up Visa Application 

Sometimes, the Immigration Officer may initiate a peer review if the Officer doubts the genuineness or feasibility of the enterprise. The peer review panel will verify if the designated entity has conducted the proper checks and investigations according to industry standards.

Below are some reasons that may result in peer review or even a  refusal of the SUV application:

• the investing entity has a disproportionately high or low percentage of shares or has little to no role in the legal control of the business;
• the applicant has little to no control or equity in the business;
• most of the applicants are all related to each other or lack experience or education;
• there is no intellectual property brought to the project, and the business plan appears to be very “cookie-cutter”;
• a management team has limited to no startup experience;
• the applicants fail to provide evidence confirming their essential role in the company; and
• the applicant fails to make significant progress on startup during the period when the applicant was lawfully authorized to work in Canada.
• Failing to provide all required documents as per the checklist. Misrepresentation in the information provided or providing fraudulent/altered documents can result in refusal of all the partners.
• Failing to provide accurate financial documents to show the financial capability of all the partners. This is one of the most common reasons for refusal.
• Failing to meet standards of international security. Police clearance forms must be obtained, and a background check must be conducted and passed by all applicants
• Not clearing the medical requirements. You will need to prove that you are not a danger to public safety, a danger to public health, or an excessive demand for available social or health services. This will generally require performing an immigration medical exam with results included with your application.

Always, make sure that your due diligence process is well-documented and that there is significant evidence available to demonstrate the genuineness and viability of your undertaking