How Does Canada Support Entrepreneurs in the Start-Up Visa Category

The Start-Up Visa Program targets entrepreneurs who may wish to establish a business in Canada. This is specific to business immigration applicants. This process can be confusing and requires a fair amount of paperwork. Therefore it would be easier to contact immigration consultants in Dubai.

How do you apply?

According to the Canadian Government’s website, this specific program targets immigration entrepreneurs with the skills and potential to build businesses in Canada. Entrepreneurs here are individuals who have a vision for a business, are innovative, can create jobs for Canadians, and compete on a global scheme. If you do have an innovative business idea, you will need to get support from a designated organisation.

Eligibility Requirements

You must meet the following criteria in order to be eligible for a Start-Up Visa:

You must also meet the admissibility requirements to be eligible to apply and enter Canada. These apply to all applicants, not solely Start-up Visa Program applicants. Your application may be rejected if you are inadmissible to Canada

Biometrics

It is most likely that you will need to submit biometrics with the application and there will be a fee for it. After paying the fee for the biometrics, a letter of confirmation will be issued. In the letter, it will be specified where you can go to get your biometrics and the letter must be shown when you give your biometrics.

Application Package

When applying you will need to get the application package and pay your application fees before submitting your application. The application package includes a document checklist, an application form, information about dependants and spouses, the use of representatives, and more.

Application fees must be paid online. Your application fees are a total of the:

Designated Organisations

Designated organisations are business groups that are approved to invest in or support possible entrepreneurs through the Start-up Visa Program.

Each organisation has its unique intake process for proposals and criteria used to assess them. For example, you may be asked to present your business concept in person or submit a detailed business plan.

If your business idea is chosen to be reviewed, the potential of your proposal will be assessed. This is so that organisations can make a better-informed decision on how to invest based on whether or not your business proposal will be successful. Should an organisation choose to support your business idea, it will give you a Letter of Support.

Your business idea or venture must be supported by one or more of the three types of designated organisations:

  • Venture capital funds– you must get a letter of support from one of the approved groups in order to invest a minimum of $200,000.
  • Angel investor groups– you must get a letter of support from one of the approved groups in order to invest a minimum of $75,000.
Published On: November 3rd, 2021 / Categories: Canada /