Tuesday, January 31, 2023

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CANADA START-UP VISA: More relevant info to help you get one


SETTLE IN CANADA WITH YOUR FAMILY

The Start Up Visa Program of Canada, often known as the SUV program of Canada, is a route for skilled businesspeople to immigrate to Canada.

The SUV program primarily aims at immigrants who have the capacity to effectively build their firm in Canada. It does this by connecting innovative entrepreneurs with private sector investors in Canada.

Such candidates will be eligible for obtaining Canada PR once their firm in Canada is fully established. They will initially enter the nation on a Canada work permit, funded by their authorized 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.

CANADA START-UP VISA: AM I EIGIBLE?

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.

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A business that satisfies certain conditions established by Immigration, Refugees and Citizenship Canada [IRCC] is conveyed by the term “qualified business.”

Keep in mind that the person must be providing “active and continuous” 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 IRCC accepts the following language tests:

Language IRCC designated tests Level required for SUV program
For English International English Language Testing System [IELTS]

Canadian English language Proficiency Index Program [CELPIP]

CLB 5
For French Test de connaissance du français [TCF Canada]

Test d’évaluation de français [TEF Canada]

CLB 5

 

CANADA START-UP VISA: LETTER OF SUPPORT

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 additional family members, in addition to the primary applicant, plan to relocate to Canada.

CANADA START-UP VISA: PROCESSING TIME

The processing period is typically as follows if an entrepreneur has a strong business plan for their startup:

  • 4 to 6 months are needed to obtain a letter of support.
  • the completion of the visa application within 18 months.

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