How to obtain a startup visa in Canada: benefits and conditions of the program

Prospects for entrepreneurs in Canada

Immigration experts, including the president and founder of Apex Capital Partners, as well as licensed ICCRC member Mikhail Shraibman, who is the head of APS & Apex Partners Inc., emphasize the significant opportunities for investors and entrepreneurs looking to enter the Canadian market. Mikhail Shraibman is not only a successful businessman but also a mentor for startups, which makes his expertise particularly valuable in the business environment.

Key requirements for the startup visa program

First of all, it is important to note that a key requirement for participating in the program is having an original business idea. The Canadian "Startup Visa" program was launched in 2013 as a temporary project for five years, and since 2018 it has transformed into a permanent program. To date, there is no such program in any other country in North America. Canada is actively seeking to attract innovative entrepreneurs, and the main goal of this program is to introduce not only capital but also new business ideas or existing companies with high growth potential.

Program conditions

The focus of the program is on truly innovative and creative solutions, with a wide range of possible applications. These can include developments in areas such as:

• information technology;
• telecommunications;
• biotechnology;
• pharmaceuticals;
• agriculture;
• food industry.

Unlike most business programs, where immigrants receive temporary visas, here selected applicants immediately become permanent residents. This can be a step towards obtaining citizenship if they reside in the country for at least1,095 daysduringfive yearsThis status is permanent and applies to the entire family of the entrepreneur. Even if the proposed project turns out to be unsuccessful, the permanent resident status will be retained.

Migration pathways for entrepreneurs

Now let's look at the most popular ways for entrepreneurs to migrate to Canada.

• Startup visa program:Permanent residency forone year.
• British Columbia:about42 monthswith a minimum investment starting from150,000 dollars.
• Nova Scotia:Permanent residency for24 months, investments from115,000 dollars.
• Quebec:Permanent residency for24 months.
• Atlantic program:temporary residence permit throughsix months, investments from2,000 euros.
• Ontario:Permanent residency for48 monthswith investments starting from150,000 dollars.

Financial aspects of the startup visa program

It is important to note that there is no strict requirement for a minimum investment amount within the startup visa program. However, the applicant must be prepared to cover the costs of documentation and ensure their living expenses in Canada for the first few months. The services of Apex Capital Partners, which is the exclusive representative of this program, are valued at250,000 dollarsThus, the startup visa offers great opportunities for foreign entrepreneurs and a unique chance to join Canada's rapidly growing business sector.

Legal Support for Obtaining Permanent Resident Status

The specified amount includes legal support services, which cover the preparation and submission of a complete set of documents for obtaining permanent resident status. The service also provides consultations with a personal lawyer at every stage of the application process.

In addition, a business plan is being developed to receive a positive response to the business idea from specialized organizations, which is necessary to obtain a letter of support. The creation of a legal entity in Canada is also planned, as well as the search for and rental of office space for a period of one financial year.

A significant part of the service also includes hiring the minimum necessary number of specialists for the business to operate until the moment of receiving approval for permanent residency, as well as support in managing the company during its first year of existence.

Restrictions on the Composition of Business Founders

The third important aspect is that each business project can be owned by a maximum of five individuals. Under the program for obtaining permanent resident status through one approved innovation, potential entrepreneurs can team up with up to five founders, including their families (spouses and children up to 22 years old).

It is important to note that the age of the children is recorded at the time of application submission. This program opens up opportunities for both those who have original ideas but lack the means to implement them, and for investors willing to invest in promising projects.

Nevertheless, it is important to remember that obtaining status is not possible without financial costs. Each primary applicant is required to pay for the processing of permanent resident status for themselves and their family members, the amount is250 thousand dollars.

Requirements for Candidates

The fourth fact is that the program does not impose age restrictions on candidates and does not require management experience. However, according to the terms of this program, the applicant must:

• to have a level of English no lower than five points on the IELTS General test,
• to have sufficient funds for moving and living in Canada until the business starts to generate profit,
• not to have a criminal record,
• medical examination process.

It is especially important to receive a letter of support.letter of support) from the selected organization, such as a venture fund, business angel, or business incubator.

The Need for Business Idea Support

The fifth important detail is the need for support of the business idea by an authorized organization. A key criterion of the program is the presence of a promising application that will attract the interest of organizations involved in supporting innovative businesses. Such organizations include:

• venture funds,
• business angels,
• incubators.

There are many similar companies in Canada, and their list can be found on the official immigration service website. The choice of a specific organization depends on the structure and characteristics of the project. Business incubators assist aspiring entrepreneurs at all stages—from idea to market entry. Meanwhile, business angels typically provide investments and consulting services for startups with a well-founded concept in exchange for a share in the company.

Approval mechanism for the application

The approval of a potential candidate's application through a letter of support is an important tool that secures financial investments in projects with costs starting from $75,000. Typically, venture capital structures invest in companies that have already established themselves in the market and have a track record. In such cases, the expected minimum investments can reach $200,000.

At the time of application, projects may be at different stages of their existence; however, the initiator or their team must have at least 50% of the voting shares at the shareholders' meeting.

The persuasiveness of a business idea

The candidate must strongly convince investors that their business idea is unique, has competitive advantages on the global stage, and can create additional jobs for local residents of Canada.

The period during which all applications are considered ranges from four months to six months. If the project attracts the attention of a potential investor, the applicant will be issued a letter of support.

Unique opportunities for applicants

Applicants seeking to participate in this program have a unique opportunity to apply for a work visa. This simplifies and accelerates the process of moving to Canada, allowing them to avoid waiting for final decisions from local authorities.

When applying for permanent residency documents, it is possible to indicate in the application the investor's desire to arrive in the country with their family members before the status is finalized. The average waiting time for a single-entry visa is between six to eight weeks. This visa will be valid for 52 weeks for the entire family, including the spouse and children up to 22 years old.

It is important to note that after entering Canada, the applicant is required to continue actively developing their business.

Obtaining permanent resident status at the airport

Canadian airports offer the opportunity to obtain permanent resident status immediately after a positive decision on the application. As soon as the investor receives approval, they can move to Canada right away.

The permanent resident card is issued not only to the individual but also to their close family members upon arrival at the airport. Once the status is achieved, it is essential to focus on stable and active business management within the country.

The key pointThe registration of the company and the conduct of a significant part of its activities directly in Canada.

Immigration to the province of Quebec

It should also be noted that one can only immigrate to the province of Quebec through the Canada Start-up Visa program after completing the process of obtaining permanent residency. Once the status is granted, the investor has the right to reside anywhere in the country.

Extension of permanent resident status

To maintain permanent resident status, it is essential to carefully monitor the duration of your stay in Canada. The permanent resident card is renewed every five years. For a successful renewal, the applicant must have actually spent at least two years, which amounts to 730 days, in the country over the last five years.

Obtaining citizenship

If you're interested in how to organize education, travel, or immigration to Canada, it's worth paying attention to the personal stories and experiences of others.

You can apply for citizenship just three to four years after obtaining permanent resident status. To do this, you need to meet a number of requirements:

• Maintain permanent resident status
• Spend at least 1095 days (which corresponds to three full years) in Canada over the last five years.
• Not to have tax debts
• Demonstrate language proficiency
• Pass an exam that confirms knowledge of the rights, responsibilities, and history of Canada.

Canada allows dual citizenship.Therefore, there will be no need to give up the previous passport.

Difficulties in submitting the application

The main difficulty lies in the ability to clearly and convincingly present your idea. One of the key tasks in this process is to assess the innovativeness of your project and to properly prepare the documentation so that accredited companies, which handle numerous applications daily, take notice of your idea.

At APS & Apex Partners Inc., there are qualified business consultants who can assist in analyzing a business idea and presenting it correctly, thereby increasing the likelihood of success.

Conclusion

The Canada Start-Up Visa program is a unique opportunity for entrepreneurs looking to implement their innovative ideas in Canada. The measures taken to simplify the immigration process open doors for people with innovative thinking, which in turn contributes to the development of the country's economy. I am interested in emphasizing thatThe key to success in this program is having a strong business idea.that will attract the attention of investment organizations.

Since its launch in 2013 and obtaining permanent status in 2018, the program clearly demonstrates that Canada is not only focused on attracting investments but also on supporting ideas that can bring real benefits to society. It provides entrepreneurs from around the world the opportunity to start their own businesses and ensure a stable future for their families. Having the right to receivepermanent place of residenceParticipants in the program can be confident in their safety and stability, even if their initial business idea encounters difficulties.

Despite the high costs and certain requirements that come with participating in the program, such as the need for legal support and securing funding, the potential that participants gain far outweighs these expenses. I would like to draw the readers' attention to the fact thatThe absence of age restrictions and requirements for management experience makes the program accessible to a wide range of people.This is a positive aspect that opens up opportunities for everyone, regardless of their life path or previous experience.

Key aspects of the program:

• The necessity of a quality business plan.
• Active search for supporting organizationssuch as venture funds and business incubators.
• Receiving a support emailfrom the authorized organization.

Canada is opening its doors to new ideas and solutions, and I believe that these efforts will lead to the creation of many successful startups that will contribute to improving the quality of life and economic growth in the country.Anyone who is ready to take a risk and dive into this exciting journeycan become part of a dynamic business environment that brings innovation and new opportunities.