Start up Visa – The current leading Canadian immigration program with a high success rate for entrepreneurs who want to live and work in Canada.
Start up Visa – The current leading Canadian immigration program with a high success rate for entrepreneurs who want to live and work in Canada.
Startup Canada Visa (SUV) is a startup investment immigration program launched by Immigration Canada in April 2013 with a pilot period of 5 years. By 2018, the Start-up Visa became an official and permanent immigration program.
Currently, Canada’s Start-Up Visa is the only federal immigration program that possesses many outstanding advantages:
Professionals in management, especially business owners, marketing staff, IT, technology…
If an entrepreneur has a viable start-up business, it will take about 4-6 months to get a Letter of Support from a designated Investment Fund. After receiving a letter of support, the entrepreneur can apply for permanent residence (PR). The PR process will take about 12-18 months to complete.
Start-Up Visa does not require proof of investment, but only needs to prove that you have enough financial capacity to support the whole family for the first year when coming to Canada. The amount will be based on the number of members included and ranges from $12,000 to $25,000.
Applicants can refer to the following table:
| Number of members in the family | Requested Amount ($CAD) |
| 1 | $12,960 |
| 2 | $16,135 |
| 3 | $19,836 |
| 4 | $24,083 |
| 5 | $27,315 |
| 6 | $30,806 |
| 7 | $34,299 |
| Add a member | $3,492 |
To join the Canadian Start-up Visa program, candidates need to have a start-up project based on the following criteria:
As for the novelty, the Government of Canada will give priority to the approval of start-up projects related to the technology industry that is considered a spearhead of economic development. Corresponds to the industries listed below:
The Investment Fund will be an organization designated by the Government of Canada to support capital contribution and help candidates establish a Business in Canada. It can be said that the success of a Start-up Visa depends a lot on the approval of an Investment Fund.
There are three types of designated organizationsthat support startups in Canada:
Applicants can refer to the list of Investment Funds at the Government Website.
As mentioned above: There are 3 types of designated organizations approved by the government for the Start-up Visa program. Applicants can refer to the list of Investment Funds at the Government Website.
There are three types of designated organizationsthat support startups in Canada:
Comparing between 3 types of investment funds, Business incubator is the only type that does not require capital investment in startup projects. This will facilitate the process of acquiring Letter Of Support and the Interview.
Currently, Le Immigration is the exclusive partner of YEDI Investment Fund , supporting customers to immigrate to Canada with Start-up Visa. YEDI is a Business Incubator and a government designated organization for the SUV program. Le Immigration works closely with YEDI to assist candidates in effectively implementing and consolidating their business ideas.
According to Canadian regulations, the Start-up Visa allows up to 5 applicants to participate in a startup project.
However, Le Immigration only selects a maximum of 3 applicants to ensure consensus and shorten the application review time. Applicants in a typical project will have experience and skills in many different fields to coordinate and strengthen the human resources for a startup project.
Usually, when there is no idea to start a business, candidates will seek cooperation with an immigration consulting company. These companies will support the implementation of business ideas and make Canadian immigration documents in accordance with the provisions of Canadian law.
In addition, these companies often work closely with Investment Funds designated by the Government to help increase the rate of receiving Letters of Support from these organizations. Startup projects shall be refined and approved with the Investment Fund to ensure the feasibility and safety of the project.
Usually, when there is no idea to start a business, candidates will seek cooperation with an immigration consulting company. These companies will support the implementation of business ideas and make Canadian immigration documents in accordance with the provisions of Canadian law.
In addition, these companies often work closely with Investment Funds designated by the Government to help increase the rate of receiving Letters of Support from these organizations. Startup projects shall be refined and approved with the Investment Fund to ensure the feasibility and safety of the project.
Short Answer: No
The Government of Canada confirms that after the applicant and his family get their permanent resident card, the business performance of the business does not affect the permanent residence status of the whole family. Because the Start Up Visa is designed according to the risk sharing model between the public and private sectors.
As long as there is a viable project with growth potential, as long as it creates jobs for Canadians and makes a small contribution to economic recovery, then you will definitely have a chance to get a PR card. Permanent residency will certainly not be affected by the success or failure of the project.
It is important for the Start-up Visa, that the Applicant must receive the approval of the Government Designated Investment Fund. This is quite difficult for applicants from Vietnam due to differences and disagreements in many aspects: language, culture, business environment…
Furthermore, the Start-up settlement application has a rather complicated process, requiring careful preparation in all aspects. Owning a Start-up Visa is not just a viable start-up project, but it also entails many procedures, documents and certain knowledge related to Canadian Immigration to promptly meet the requirements of the Investment Fund, and the Ministry of Immigration.
Therefore, start-up candidates will often cooperate with licensed immigration consultants in Canada. These units have the authority to check and evaluate the eligibility of a Start-up application, and are the bridge between the candidate and the Government of Canada, helping to increase the high success rate of the application.
Candidates should research carefully before cooperating with a representative third party to handle Start-up Visa applications. Canada’s current immigration law strictly stipulates: “…Only individuals who are licensed by the Government of Canada to act as legal immigration consultants (referred to as ICCRC) are entitled to provide immigration counselling services regarding study abroad, travel, and visa applications to Canada…”
Therefore, when researching or researching immigration consulting companies, the first thing to do is to ask the company for their ICCRC registration code. You can look up this code directly on the ICCRC website.
Le Immigration provides a complete consulting service on Canada’s Start-up Visa (SUV) for global entrepreneurs wishing to live and work in Canada. We have the legal right to represent the client’s case, and handle the Startup visa application process on behalf of the client from the very beginning until the client becomes a Canadian, and holds a Canadian passport.
Currently, Le Immigration has supported more than 50 SUV applications from around the world, and 30 which are from Vietnam with the exclusive support of Canada’s largest business incubator, YEDI.
With a team of experienced lawyers and leading experts in business, technology and innovation, Le Immigration is committed to helping you complete your startup project, and get PR for the whole family.
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