August 29th, 2023 at 12:06 am
A Comprehensive Guide to Canada Hybrid Startup Visa
There has been much discussion regarding the Hybrid Startup Visa, although it is unclear what it is, and there is no formal description available online. We’ll answer any questions you have and explain what this phrase means, who it can aid, and why it’s beneficial for anyone looking to relocate to Canada.
Overview of Canadian Hybrid Startup Visa
A hybrid Startup Visa involves just applying for the Canadian Startup Visa program, then applying for permanent residency (PR) through another IRCC-approved immigration program, and finally withdrawing your PR application through the actual SUV program.
You apply for your PR and work visa under the Startup Visa program, move yourself and maybe your family to Canada, and then apply for another PR through another Federal or Provincial immigration program while withdrawing your existing SUV. There are a few programs in Canada that can assist you with this, which we shall discuss today.
Canada’s Express Entry
When you are already in the country with your Startup Visa work permit, the easiest program to use is the Federal Express Entry program, specifically the Federal Skilled Worker. If you read the Ministerial Instructions for Express Entry, you’ll know that anyone with an LMIA-exempt work permit, like a Startup Visa, can do their own payroll in Canada, as long as they pay themselves at least the minimum wage. After 12 months of full-time work and payroll, you can get bonus job offer points in the Express Entry system.
This is a good choice for some people who are eligible for Express Entry. After a year in Canada, it’s easy to get a bonus of 50 points. Getting 200 points depends on how your company is set up in Canada, such as how many middle managers you have and so on. This will make it harder and more expensive for you to claim them. And if you don’t own more than 50% of the company directly in Canada, you can even get Canadian work experience points after a year and move to the Canadian Experience Class of Express Entry.
Obviously, this hybrid would work well for applicants with strong profiles or a good staff structure in Canada. Single founders would definitely benefit from this, but if you’re part of a Startup Visa group, you should ask permission from other members to convert to PR inside Canada while continuing to work full-time on the Startup even after the Confirmation of PR using the Hybrid system, to show IRCC that you are still an important member even though you already have your PR. It’s been done before; you just need to be careful about how you get around.
People from Hong Kong and the Ukraine
Hong Kong and Ukraine residents with open work permits due to IRCC temporary public policies can apply for the Canadian hybrid Startup Visa. This excludes SOWP and international students with a PGWP from a province other than Alberta.
If you’re in either of the two groups, you can go to Alberta, start a business, offer yourself a job, and apply for PR right away.
After two months, IRCC processes your PR application. You don’t need to have worked in Canada or lived in Alberta before applying for the Alberta PR nomination.
Program name: Alberta Opportunity Stream. We assume you have a CLB5 on the language test, a high school diploma, and two years of experience working abroad in the same job you are offering. That’s enough. This program works best if you and your family are not company shareholders.
An overseas company can own a Canadian company in Alberta with an overseas director. You can be the only person who controls and signs for the bank account, but the company needs a local signing officer and director who is not you or someone in your immediate family, even if they live overseas.
Alberta PNP
Another Hybrid Startup Visa idea for single founders whose SUV application has been backed by Empower or Calgary Platform business incubator. If you are a single founder, have a letter of support from one of these two incubators, and graduated from a post-secondary program in the last 10 years, you can move to Alberta.
You can run your business for 12 months, and be available for permanent residency through the International Graduate Entrepreneur program. Simply invest $50,000 in your business over a year to be nominated for PR. This will provide more certainty and protect you from the IRCC’s Federal Startup Visa program administrators.
New Brunswick PNP
The New Brunswick Provincial Nominee Program is the last hybrid way to get a Startup Visa.
If you set up your Startup business in this province on your closed Startup Visa LMIA-exempt work permit, don’t own a lot of shares in your company, and have been on the payroll for a year, you can be nominated for PR through the regular Provincial PR program or Provincial Express Entry by giving yourself a job offer.
This program cannot: Unlike the Express Entry hybrid Startup solution, your wage matters. The business must be at least two years old when nominated. This is disastrous.
If Alberta’s program isn’t available, try this: Express Entry’s 200 points don’t apply to PR nominations. Instead, this Provincial Nominee program lets you run your business anywhere that follows provincial laws. For C10, ICT, and Provincial Skilled Immigrant applicants. If Express Entry is too difficult, their regular stream may qualify you.
If you came to Canada with a work permit through the Hybrid Startup Visa program, these are some options. Unless you go through the Manitoba Entrepreneur program, other provincial Entrepreneur programs will be slower than SUV.
You don’t have to wait for the traditional Startup Visa program to apply for your PR. You can use a combination of programs and jump from one to the next.
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