Startup Visa Canada

Canada Startup Visa

Canada Startup Visa [2024] + Conditions, Steps, and All Costs

The Canada Startup Visa is one of the visas that receives less attention, and often users have little information about it; however, with a bit of attention, this visa can be one of the best ways to immigrate to Canada. Even for those seeking work immigration to Canada, the Canada Startup Visa can be an excellent alternative. Nevertheless, the first step for any endeavor is acquiring useful and necessary information, and in this article by ExpertUP, we aim to explain the Canada Startup Visa program thoroughly. You should never miss out on this information, as it is highly likely that after reading this article, you may decide on a different approach to your immigration conditions to Canada and try a method that increases your chances of success. Stay with us at ExpertUP.

Key Regulations

Canada Startup Visa Regulations at a Glance

The Canada Startup Visa is mainly for those seeking to present their innovative ideas in Canada and establish an excellent business in the country for both residence and income purposes. However, to obtain this visa, you must meet specific conditions and consider various points to maximize your chances. For this purpose, we need to share the regulations for obtaining this visa with you at the beginning of this article so that if these conditions and regulations are available to you, you can pursue a more thorough examination of this type of visa. According to the latest updates, to obtain this visa for migration to Canada, you must meet the following conditions:

General IELTS score above 5.
Having one year of university education.
Obtaining a Letter of Support from designated organizations by the Canadian immigration authorities.
Ability to cover your and your family’s living expenses for at least one year.
No prior criminal record or severe medical issues for entry into Canada.

Of course, we will further explain these regulations and conditions later on, but for now, these conditions are considered for obtaining a startup visa to Canada, and obtaining documentary evidence of them will be necessary to apply for this type of visa.

Startup Visa

What is a startup visa?

First and foremost, you need to understand what the Canada startup visa is. This immigration program has been on the agenda of the Canadian government since 2013. Studies show that most startups and innovative businesses are usually registered in the United States and Europe, and Canada is a consumer in this regard. For this reason, in 2013, the government of Canada decided to introduce a visa for those who have innovative ideas, allowing them to obtain permanent residency. The startup visa program was conducted experimentally until 2018 and has since been permanently included in the list of various types of Canadian visas.

In Canada’s Startup Visa, applicants must present an attractive startup idea or an excellent business plan. The Canadian government has selected several venture capital firms to conduct initial assessments of these ideas, and these firms are obliged to thoroughly evaluate the presented ideas commercially. If an idea lacks economic justification, it will practically be rejected by these firms. However, if the ideas have commercial appeal, they will be approved, and one of these firms will endorse the idea as a financial sponsor. The applicant can then proceed with the visa application with this financial support letter and, of course, meet other requirements for this type of visa. The support letter, known as LOS (Letter of Support), is mandatory for the startup visa. Currently, the following companies are responsible for evaluating ideas in Canada:

Venture Capitals: These investment firms mostly focus on assessing innovative ideas related to modern and contemporary technologies. The investment amount of these firms in such ideas is $200,000, and you must present an excellent idea commercially to receive approval from them.

Angel Investors: Angel investors are accelerators for startups in Canada. If the presented idea meets the conditions, an investment of $75,000 will be made on them.

Incubators: Incubators are collections of companies focused on innovative ideas. They provide startups with free office space and equipment and support them in this way.

Is the Startup Visa Suitable?

Who is the Canada Startup Visa Suitable for?

By reading the conditions and points mentioned above, you probably have an idea of who the Canada Startup Visa is suitable for. This type of visa is mostly suitable for individuals who have attractive business ideas but do not see the necessary resources for implementation in their own country. However, this visa is also excellent for teams with such ideas, as each startup visa program allows for residency for up to 5 people, and with family support, in fact, 5 families can benefit from this visa. If you are considering using this type of visa to enter Canada, you must first evaluate the conditions mentioned above within yourself.

Likely, one of the most important conditions is presenting an attractive idea for a startup in Canada. Although you may already have a great idea in mind, you can consult with ExpertUP about it. Our years of experience in such cases have led us to gain sufficient expertise in understanding what ideas the Canadian government is looking for and which business plans have a better chance. Therefore, we can provide excellent guidance to you, and leveraging these experiences can even be a winning factor for you in the process of obtaining a startup visa.

Conditions for Startup Visa Application

Applicant Conditions for Canada’s Startup Visa in 2024

We’re here to accompany you in examining the conditions for Canada’s Startup Visa in 2024. As you know, the fundamental nature of various Canadian visas remains constant, but each year there may be changes in their details by the Canadian government. The same applies to the Startup Visa Program in Canada. However, at ExpertUP, we review these changes annually and incorporate them into this article so that you always have access to firsthand information on this matter. Let’s move on to examining the conditions for the startup visa.

Applicants for this visa must meet the following conditions to qualify for this program:

IELTS Certificate

Achieving a minimum score of 5 in the IELTS is required.

It’s worth mentioning that for using this visa, a General IELTS score will suffice, and you won’t be obligated to present an Academic IELTS score. It should be noted that an IELTS score is valid for 2 years, and your application for obtaining a startup visa must be completed within this 2-year period. We recommend participating in the IELTS exam at the beginning of the desired timeframe for applying to the Canadian startup program and providing your score. Financial Support Letter

As mentioned above, applicants must obtain a financial support letter from one of the recommended companies. If the applicant’s idea is evaluated by several companies and accepted by them, the highest investment amount will be considered. Therefore, you will be limited to presenting your plan to only one company.

University Education

Having a university education for at least one year

Although having or not having a university education is never a guarantee for presenting innovative and attractive ideas, this aspect should also be added to the collection of documents and conditions for obtaining a visa from the Canada Startup Visa program.

Financial Assurance

Financial ability to live without income in Canada for a minimum of 12 months

You must convince the Canadian immigration officer that you can financially support your family in Canada for up to 12 months without any challenges. Providing financial assurance for this purpose can be the best condition.

Company Registration Requirements

Company registration requirements in Canada’s Startup Visa Program for the year 2024.

It’s time to review the requirements for registering a company in Canada. In this country, there are specific laws for registering a company for applicants of startup visas, and if you meet all the necessary conditions, you can proceed for this purpose. Generally, the conditions for company registration in Canada are as follows:

Individuals over 18 years old can apply.
No criminal record.
Minimum of 3 years of managerial experience.
No bankruptcy in past businesses.
Presenting a justifiable and approved idea and business plan.
Citizenship requirements based on the province of choice for registering the company.
Declaration of a physical address in Canada.
Possession of educational credentials.

Of course, depending on the province where you intend to register your company, some additional conditions may be added to or subtracted from these requirements. However, applicants for Canada’s startup visa can proceed based on the conditions for registering a company in this country. These individuals must hold a minimum of 10% of the voting shares of the registered company, and no individual or entity can acquire 50% or more of the voting shares of the company.

However, registering a company based on the ideas presented entails specific conditions, and it is necessary to definitely use specialized consultancy services at ExpertUP in this regard. We will be a good host for this consultation for you.

Stages of Startup Visa in Canada in 2024

It’s time to introduce the stages of obtaining a startup visa in Canada. Please note that we will introduce the stages of obtaining this visa to you step by step so that if you are truly seeking to obtain this type of visa, you will not encounter any challenges in this regard.

Business Plan

Presenting a business plan

If you don’t have an innovative idea or a suitable business plan, forget about the startup visa. Keep in mind that the presented business plan must first be developed and presented regularly and under the necessary standards, and beyond that, it must definitely comply with global trade laws. You must present an idea that is suitable for commercialization and income generation in the current global conditions.

Support Letter

Receiving a support letter is the second step in leveraging the advantages of the Canada Startup Visa Program. At this stage, you must overcome one of the most challenging steps in obtaining this visa. Present your business plan to these companies and obtain a support letter from them with a good presentation. The supporting company, by providing a support letter to you and a commitment letter to the Canadian immigration authorities, will bring you closer to obtaining this visa.

Document Collection

Preparing the required documents for a Canadian startup visa.

In the next step, it’s time to gather all the necessary documents for this type of visa. Keep in mind that although a financial support letter may be considered the primary and most important document for applying for a Canadian startup visa, you must also prepare and present other documents in the best possible way to avoid any challenges during the application review process. At ExpertUP, we provide you with all the necessary guidance and will be with you every step of the way, from zero to one hundred, in preparing the documents.

Work Visa

Taking steps for a work visa.

Now it’s time to proceed with applying for a Canadian work visa, armed with all the necessary and recommended documents. The Canadian immigration office will conduct a thorough review of the submitted documents and will promptly notify you of the final result. Additionally, you will need to apply for permanent residency. The process of reviewing your work visa and residency will be handled by the immigration office. The final result for your work visa is typically announced within 3 to 6 months.

Further review if needed

Document review by the Canadian Immigration Service

The Canadian Immigration Department may decide to further investigate your idea and project, which will be announced at this stage. In this case, more organizations and centers will be involved in this investigation. After receiving all the information and documents, these organizations will examine your project and announce the result to the Immigration Department. Having any unrelated communication with sponsoring companies is one of the things that may cause your project to be rejected at this stage.

permanent residency

Get permanent residence

If both results are in your favor, you can get Canadian permanent residence and you will not have any responsibility in the project. Pay attention that we will stay by your side at Xpertop until this stage so that you don’t face any legal challenges.

Startup visa price

Canadian startup visa fee

It’s time to check the cost of a Canadian startup visa, which many of you probably have questions about. Of course, these costs may vary depending on the conditions, but we should have a reasonable estimate of these costs anyway. The cost of obtaining this visa is related to various items. First of all, we should mention the expenses related to the support companies. The first two types of companies that allocate funds for creative projects will not have any costs, but if your project is approved in growth center companies, you will probably have to bear costs for participating in training sessions, although these costs are not very high. Apart from these, the costs related to this visa will be as described in the table below.

type of application	Fees in Canadian dollars
Job offer based on the main applicant	230 dollars
Work permit for each main applicant	$255
Work permit of the spouse of the applicant	$255
Visa for visiting children	100 dollars
Permanent residence fee for the main applicant	$2,140
Spouse's permanent residence	$1,365
Residence of each of the children	230 dollars
Biometric fee (fingerprint)	$85 per person and up to $170 for the entire family

required documents

Necessary documents for startup visa Canada

One of the most important points for obtaining a Canadian startup visa is to prepare complete documents without any suspicious points. Unfortunately, many users, despite having the right conditions to participate in the Canadian startup visa program, fail to receive this visa due to lack of attention to this step. Of course, we should not ignore the lack of providing the necessary expert and professional advice in this regard. At Xpertop, we are very sensitive about this and try to check your documents in a special way before any action. For this purpose, you must provide the following documents:

Valid language certificate
Official certificate of no criminal record
Two photos for each visa applicant
Confirmation of payment of visa fees for each person
Financial documents
Identification documents of all people
Letter of financial support
Passport

Time required for a startup visa

How long will it take to get a Canadian startup visa?

Of course, you are also concerned about how long it will take you to get a Canadian startup visa and when the Canadian Immigration Department will finally grant you this visa? It is a little difficult to determine a certain period of time to obtain permanent status and a Canadian startup visa; Because this time depends on variable factors that cannot be easily estimated. For example, one of the most important influencing factors for this time is the busyness of the Canadian immigration office and the number of cases under investigation. Due to the high number of applicants for a Canadian immigrant visa, this process usually takes a long time. In some cases, the result may be determined in a period of 16 to 20 months, and it may even take 30 to 33 months to receive this visa.

The only advice we can give in this regard is to submit all the necessary documents for the detailed checks of the immigration office so that your visa is not delayed. Considering that this visa itself may take longer for you if you need to further review the letter of support, any defect in the file will make this time even longer. Therefore, we recommend that you definitely keep this point in mind so that your case can be resolved in the shortest possible time.

Review the advantages and disadvantages

Advantages and disadvantages of Canada startup visa

Examining the advantages and disadvantages of the Canadian startup visa will be important for those who have not yet made a final decision about it. If you still haven’t decided whether this type of visa is right for you or not, you can put these advantages and disadvantages together and make a better decision about it.

Advantages	Disadvantages
Obtaining permanent residence from the very beginning at the time of application without the need to be in Canada The possibility of living in all Canadian cities The possibility of receiving accommodation for family members without any restrictions One of the fastest ways to get Canadian permanent residence The possibility of a quick presence in Canada with a work permit The possibility of obtaining a work permit for the spouse Obtaining permanent residence even if the startup is justified by failure IELTS score below 5 for the main applicant The possibility of free education of children in Canada for the applicant Health insurance for the whole family Simple documents	It may take a long time to review the case for some reasons. The high cost of this method compared to some visas The need for expertise to present a business plan and start a business The possibility of failure of the startup and jeopardizing the intended income

Advantages

Disadvantages

Obtaining permanent residence from the very beginning at the time of application without the need to be in Canada
The possibility of living in all Canadian cities
The possibility of receiving accommodation for family members without any restrictions
One of the fastest ways to get Canadian permanent residence
The possibility of a quick presence in Canada with a work permit
The possibility of obtaining a work permit for the spouse
Obtaining permanent residence even if the startup is justified by failure
IELTS score below 5 for the main applicant
The possibility of free education of children in Canada for the applicant
Health insurance for the whole family
Simple documents

It may take a long time to review the case for some reasons.
The high cost of this method compared to some visas
The need for expertise to present a business plan and start a business
The possibility of failure of the startup and jeopardizing the intended income

Amount of financing

Amount of funding required for a Canadian startup visa

One of the most important documents in Canadian startup visa cases is financial ability and its proof. The applicant must provide the necessary documents to prove the financial ability for both himself and his family. The amount required to prove financial ability is also clear and the applicant must prove that he can provide this amount for himself and his family. In the table below, you can see the amounts of financial support based on the number of family members.

Number of family members	Cost required to prove financial means in Canadian dollars
1	13,757
2	17,127
3	21,055
4	25,564
5	28,994
6	32,700
7	36,407

A very important point about proof of financial ability from the applicants is that it must be in cash and the Canadian Immigration Department will not accept things such as houses or land in this regard. The criterion for determining these costs is the minimum amount of income in each country based on the available statistics announced by Lico.

Startup visa rejection

Reasons for rejecting a Canadian visa startup

Knowing the reasons for failure is half the success. If you know well why the startup visa application is not approved and rejected, you can appear successful by avoiding these cases. The most common reasons that we have seen in the past years for a Canadian startup visa application to be rejected are the following:

Incomplete business plan is one of these reasons. Be careful that your business plan may be justified, but it is not prepared according to the standard and complete.
The non-justification of the business plan is another reason for the rejection of this type of visa.
Having a criminal record
Having medical problems
Insufficient financial capacity declared by the applicant
Proof of not having enough experience in the startup in question
Not having the necessary information to pursue the case, according to the Canadian immigration officer
Proof of not having the spirit of cooperation with partners in the startup in question

Migration of family members

The immigration status of family members of the startup applicant

The possibility of obtaining visas and permanent residence for family members is one of the most attractive and best advantages of Canada’s startup visa. Applicants of this type of visa can apply for accompanying visas for their family members without any worries and finally get permanent residence for them as well. Of course, everything will depend on the conditions of the applicant’s case and his business plan.

Successful examples

Successful examples of Canadian visa startups

In your opinion, what percentage of Canadian startup visas are successful and what percentage of them are rejected? Do you know about the successful examples of Canadian startup visas and do you know in which subjects we have had the most success in obtaining this visa? It is interesting to know that Iranian applicants have always been a constant in applying for Canadian startup visas, and even in 2020, they accounted for the largest number of Canadian startup visas with 29% of the total. For this reason, we paid special attention to this type of visa for you at first. Iran has been among the 5 countries with the highest number of startup visa applications to Canada for all the past years. Reviewing a number of successful Canadian startup visas by Iranian applicants can give you a good perspective on this.

In 2018, a project titled Online Payments Ecosystem was registered by the user Naushad in the Canadian Immigration Department for a startup visa.
Also, in 2018, the idea of nft and code, in 2013, advertising, in 2014, management and organizational growth, and in 2015, virtual education are among the ideas of Makkah that have appeared successfully and have been approved by Iranian applicants over the years.
In 2019, the startup idea of financial management and bank payment by a team of three people has been successful.

Be careful that in the requests made, the highest success rate was related to the requests supported by the angel investor. The letters of support from these centers have the best conditions with an 80% chance of success. While high-risk investors face a 43% chance of success, and startups supported by growth centers face a 79% chance. Also, be careful that only 4% of projects are approved by risk-taking institutions. While this number is 79% for growth centers and 17% for angel investors.

The most important points

Important points in the Canadian startup visa

We are with you by reviewing golden and important tips to get a Canadian startup visa. The fact is that among the types of Canadian immigrant visas, the Canadian startup visa program has very special conditions. Due to the fact that the applicant can apply for permanent residence from the very beginning and achieve this goal, it has become very attractive; But paying attention to the golden tips can increase the chances of people succeeding in this regard.

Preparing the necessary documents in the best possible conditions is one of these things. This process will make the review of your case not too late and you will be able to reach the final result as soon as possible.
Getting professional and specialized consulting services for developing a business plan is also one of the most important points in submitting a startup visa application. This makes you prepare and prepare your business plan with the least challenge so that your chances of success increase.
We can also add the tact of professional legal advice from immigration institutions specializing in this type of visa to these points.
Having a language score higher than the required level can attract the attention of the immigration officer and create a positive opinion for you.
Having work experience related to the type of startup introduced is another important point that can help you in this regard.

Express service

Canada startup visa services at ExpertUP

At ExpertUP, we are by your side to provide you with all the necessary prerequisites for obtaining a Canadian startup visa. You can get acquainted with all our services in this regard by using free consultation services and have our company by your side from the beginning to the end. Our services for the Canadian startup visa program are from zero to one hundred, and we will provide the necessary professional advice at all stages and provide preparations to improve the conditions of Iranian applicants. From providing advice for choosing a business plan to taking the necessary steps to obtain a visa and enter Canada, all are included in our programs, and our support will not end until the permanent residence of the applicant is issued.

Free Consultation

Request a free consultation for Canada’s job offer.

By clicking the button below and contacting ExpertUP’s expert consultants, you can receive these services in a completely professional manner. Canada’s job offer visa has its own specific conditions, and you may not even be able to accurately assess your own conditions for the possibility of using this visa. By using free consultation services, all the knots will be untied for you, and you can determine whether using this visa is feasible for you or not.

Our consultants will evaluate your conditions as quickly as possible and inform you of the result. After this free consultation session, you can start working with our team to reach the final result as soon as possible. Obtaining a Canadian work visa through a job offer is our expertise.

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Frequently Asked Questions

Frequently asked questions about the Canadian startup visa in ExpertUP