The Start Up Visa Program of Canada, often known as the SUV program of Canada, is a route for qualifying business owners to immigrate to Canada.
The SUV program primarily targets immigrants who have the potential to effectively start their business in Canada by connecting innovative entrepreneurs with private sector investors in that country.
Such candidates will be eligible for obtaining Canada PR once their firm in Canada is fully functioning, having initially entered the country on a Canada work permit supported by their designated Canadian investor.
The SUV candidate will be able to apply for a temporary work permit to enter Canada and launch their firm there while their application for Canadian permanent residence is being processed.
AM I ELIGIBLE?
There are four qualifying requirements that must be met in order for a candidate to be eligible to immigrate to Canada through the Start Up Visa program.
These include owning a qualified business, being able to speak English fluently enough to participate in the SUV program, obtaining a letter of support from one of the recognized organizations, and having the necessary financial resources to settle in Canada with family.
A business that meets certain conditions established by Immigration, Refugees and Citizenship Canada [IRCC] is suggested when the term “qualifying business” is used.
Keep in mind that the person must be providing “active and ongoing” management of that specific business from within Canada at the time they receive their permanent resident visa for Canada. Furthermore, a significant portion of the business operations must be carried out in Canada.
In order to meet the language requirements, the candidate must have achieved at least a Canadian Language Benchmark [CLB] Level 5 in speaking, reading, listening, and writing in either English or French.
The Immigration, Refugees and Citizenship Canada (IRCC) accepts the following language tests for immigration purposes:
1. International English Language Testing System (IELTS): General Training (GT) or Academic
2. Canadian English Language Proficiency Index Program (CELPIP): General or General-LS (Listening and Speaking)
3. Test d’évaluation de français (TEF)
4. Test de connaissance du français pour le Canada (TCF Canada)
5. Test de connaissance du français (TCF)
Now, in order to obtain a Letter of Support as part of the SUV program eligibility procedure, a person must secure the support of one of the IRCC authorized organizations.
The group endorsing the person will produce a Letter of Support for the SUV program.
An angel investor group, venture capital fund, or business incubator can all be designated organizations for the Start Up Visa program for Canada.
One or more recognized organizations may offer their support.
The procedure for presenting a business proposal varies depending on the organization. To learn how to obtain that group’s support for the SUV initiative, the individual designated organization must be approached directly.
When submitting an application to the IRCC, the Letter of Support must be provided.
Finally, you’ll need to provide evidence of your financial ability to support yourself and your dependents after you arrive in Canada. The amount needed will depend on how many other family members, in addition to the primary applicant, plan to relocate to Canada.
PROCESSING TIME
The processing period is typically as follows if an entrepreneur has a strong business plan for their startup:
Obtaining a Letter of Support will take 4 to 6 months, and completing the visa application will take 18 months.
Are you an ambitious entrepreneur with an innovative business idea? Take the first step towards your entrepreneurial journey with the Canadian Start-up Visa! Our experienced team of immigration consultants is here to guide you through the process. Contact us today and let’s turn your start-up dreams into reality