What are the different programs by which I can become a permanent resident and get my citizenship?
The Canadian government has multiple programs for individuals and entrepreneurs. The Entrepreneur program has been simplified and is called the Start up Visa Program. At CSC, our team helps you prepare your business case including your technology, intellectual property, financials, business plan, and other paperwork to help you get a Letter of Support from a designated organization.
Who is Canada Startup Company CSC and what is their role?
Canada Startup Company consists of professional business consultants that have proven experience advising and mentoring startups through the Canadian Government’s Startup Visa Program to bring skilled, high-potential entrepreneurs to Canada. Canada Startup Company provides end to end business consultancy including business planning, ideation, intellectual property, accounting services, liasoning with the designated organizations, pitch preparation, and more. Canada Startup Company can also provide recommendations for professional, experienced and ethical Regulated Canadian Immigration Consultants (RCICs) or immigration lawyers for filing of the Permanent Residence and Work Permit applications under the Startup Visa Program.
What services are offered by Canada Startup Company?
Canada Startup Company provides end to end services to help startups grow. These services include, but are not limited to advanced ideation, business planning, market research, market validation, pitch decks, pitch coaching, due diligence, intellectual property filing, accounting services, tax services, product development, and more.
Why should I choose a Startup Visa Program?
- Canada’s Start-Up Visa program allows immigrant entrepreneurs / Individuals with an innovative idea to apply directly for Canadian permanent residence, with the option of a work permit.
- The Startup Visa Program also does not rely on the express entry system, meaning that those who do not qualify for Express Entry to Canada may still qualify for the Startup Visa Program.
- If your business is run by multiple people, up to 5 foreign nationals can apply as owners of the entity. As a result, you do not need to worry about altering the management of the business.
- Low English proficiency requirement- A CLB 5 level of proficiency in English, a high school diploma, a clean history, and a great business idea.
- The Start-Up Visa Program allows you to include family members on your application for a work permit and permanent residence. Your child only needs to be under 22 before the application is submitted.
- Live and work anywhere in Canada
Do I need to create a genuine business to immigrate to Canada with this Program?
Yes. The Program is designed for entrepreneurs with the skills and abilities to start a business in Canada.
Who Should Apply?
Any entrepreneur who is looking to start an innovative business in Canada. These founders should meet the CLB 5 language benchmark, have an extensive career background, and can meet the proof of funds requirements.
What is the Process?
Every Startup Visa Founder needs a big team - business consultants and experts and immigration professionals. First, founders should retain CSC and an immigration professional. Then, to ensure the best chance at success of both the startup and the Startup Visa Application, the founders will participate in the Entrepreneurship Development Program where eligible founders and startups will receive their Letter of Support from a Designated Organization. If the Letter of Support is received then eligible founders can apply for their Work Permit and Permanent Residence under the Startup Visa Program.
What is the Processing time for PR?
CSC works with the clients for 21 weeks to get the Letter of support from a DO, once the LOS is submitted to the IRCC a PR application usually takes about 12-18 months to be processed. Within this timeframe, candidates can apply for a temporary work permit to allow them to start working in Canada before their PR statuses get approved, this process takes 6-8 weeks. All in all take about 2 years
What is the cost for PR?
The costs for end to end services varies based on the founders and the startup. Government fees for the program are also determined by the Government of Canada and continuously change. Please contact our team for more information.
What if I don’t have a business idea?
There is free and open sharing of ideas in CSC's program. A lot of mentors and other clients discuss their ideas. Mentors and advisors also provide inputs based on their experience in Canada and the Startup Visa program. CSC does 8 (eight) one on one sessions with you to assure evolution of your idea to fit the Canadian market.
Do I need to be actively involved in the management of this business?
Yes. You must provide active and ongoing management of this business from within Canada.
If I immigrate through the SUV Program, what happens if my business fails?
If your business fails after you have received permanent residence, it does not impact your permanent resident status. IRCC recognizes that not every business will succeed and the SUV Program is designed so that the risk is shared between the public and private sector.
What is the difference between support from venture capital funds, angel investor groups, and business incubators?
To get support from a VC Fund or angel group, you need to secure a minimum investment of CAD200,000 or CAD75,000 respectively from them. A business incubator on the other hand won’t invest any funds, but will agree to support your project and accept you into their business incubation program.
Can an entrepreneurial team immigrate to Canada together through the Start up Visa Program?
Yes – up to 5 people can apply through the SUV Program as owners of a single business. When reviewing your proposal, the DO will decide who is and who isn’t essential to the business. If IRCC refuses the application of any of the essential entrepreneurs, for any reason, all related applicants will be refused.
Who will review my Start-up Visa Program application?
First, the designated organization that you are seeking support from will review the viability of your business proposal. Next, the Department of Immigration, Refugees & Citizenship Canada will review your immigration application to make sure you have received the necessary support to apply and to make sure you’re eligible and admissible to become a permanent resident. In some cases, your application may also be subject to an independent peer review process. The peer review process ensures that your activities and those of the designated organization are in line with industry standards.
Do I need previous management experience to participate in this Program?
There is no requirement that the applicant should have prior management experience. In assessing your application, the designated organization will assess the viability of the business under your management. Plenty of entrepreneurs never had previous management experience before launching their first start-up business, and went on to create very successful businesses.
How much money do I need to invest in the business?
There is no formal minimum amount. The amount you’ll need to personally invest in your business will vary based on the type of business. We expect that at a minimum, a business will require an initial investment of at least $100,000 to launch, and become operational. There are some initial expenses at the launch of a business, and you want to be sure that the company is well-funded from the beginning. But in most cases additional investment will be required from the entrepreneur.
Can I establish my business anywhere in Canada, or will I be restricted to one Province?
You will be free to establish in any Province, other than the Province of Quebec. There are designated organizations across the country, who can support you regardless of where you choose to settle with your family and establish your business.
Do I have to travel to Canada before becoming a PR?
No, work permits are optional for SUV clients, and they can apply directly for PR. Programming offered by incubators and CSC is all handled virtually and can be done from their home country. However, this may change after COVID and incubators may require you to be present in the office.
If I receive a letter of support from a designated organization, is my permanent residence application guaranteed to be approved?
Obtaining the letter of support is a critical and required step to applying for the SUV Program, but alone doesn’t guarantee that you will be approved. IRCC will review each application and ensure that you meet the eligibility and admissibility criteria, that you have sufficient funds to support yourself and your family when you arrive in Canada, and that you have passed a medical examination and security clearance checks.