October 19, 2021
Canada’s Start-Up visa (SUV) is widely known among foreign nationals, entrepreneurs who are interested in immigrating to Canada, and for good reason. Successful applicants are given the opportunity to relocate to Canada, with their families, to set up their own business, and are immediately geared towards the direct pathway to Canadian permanent residence. Most other Canadian business immigration programs require that you first move to Canada, gain employment experience, and then proceed with a secondary application for Canadian Permanent Residency in the hopes of being granted permanent residency.
The SUV’s significant benefits make this program highly competitive. If you want to apply you need to be prepared to put some work into the process to make your application stand out among the tens of thousands submitted to the immigration authorities. Having a business background is simply not enough.
In order to be successful, you’ll need to demonstrate that you possess the mindset of a start-up entrepreneur.
Let’s take a closer look at what Canadian immigration authorities are looking for in Start-Up Visa candidates, and what you can do to submit a successful application.
1. Your business idea
Canada’s immigration authorities will want to see that you have a well-thought-out business plan. Your proposed business should be unique, viable, able to create jobs for Canadians, and competitive on a global scale.
2. Your team
You will also need to specify who you will be working with to make your business a reality. This includes anyone who will be supporting you throughout this endeavour, fellow owners or operators of the business, and anyone providing funding.
3. Letter of support from a designated organization
You will also need to show that you’re backed by a Government of Canada approved designated organization, such as an angel investor or venture capital fund who will provide you with a letter demonstrating their commitment to support you through the early days of establishing your new business in Canada.
4. Active involvement in the business
Once your business is established, you will be expected that to participate in running it. As the founder, you cannot simply be a figurehead but must demonstrate that you are actively involved in the day-to-day activities of your business. Remember, this is not a passive investment. Both the Canadian immigration authorities as well as any investors will want to see that you are committed to investing in the success of the business and building something with longevity.
As you can appreciate, such a process will require that you supply a number of documents with your application.
Given that there can occur any number of unforeseen delays along the way, we always recommend getting started on the immigration process as soon as possible. This will give you time to gather the necessary documents and build the strongest possible application.
The best way to shore up your chances of success in Canada’s SUV program, which can be lengthy and prove to be quite complex is to work with an experienced immigration lawyer.
