Nafisa Mosaddek

5 Essentials of Canada Startup Visa Canada is like a dreamland for entrepreneurs worldwide due to its thriving economy. It also offers breathtaking scenery and is rich in culture and history. This is precisely why the Canadian Startup Visa program is a brilliant opportunity for those who want to establish a successful business venture and wish to reside there permanently. Therefore, if you are a creative and innovative person and have these goals in mind, you should apply for the Canada Startup Visa. However, before applying , it is important to know a few essential things about the Visa and the overall process associated with it. Don't worry, we've got you covered. Keep reading to find out more about which things any candidate must check before applying for the Canadian Startup Visa. 1. About the Visa program: The Canadian Startup Visa Program offers permanent residence to qualified entrepreneurs from all over the world. The program is specifically designed for innovative entrepreneurs to connect them with private sector investors in Canada to help them establish their startup venture. Candidates are designated to a Canada based investor each and they support the work permit which allows the candidates to arrive in Canada. Once their business is running properly, they can apply for permanent residence. 2. Eligibility criteria: The candidate should have a unique and innovative business idea capable of creating a lasting impact on the market . Special preference will be given to ideas that can contribute to advancement in Canada's technology and economy. Additionally, the candidate should collect a Commitment Certificate and a Letter of Support from a designated organization, and should have an English/ French language proficiency level equivalent to Canadian Language Benchmark level 5. Lastly, he/ she should have sufficient available and transferable settlement funds. 3. Application Process: The application process involves multiple stages. The candidate needs to obtain a letter of support from a designated organization first. For this, the candidate should develop a viable business project idea that meets the requirements of the designated entity as well as the Canadian industry terms and conditions. This is followed by submitting an application to the immigration authority and going through a thorough background check. 4. Processing time: The exact processing time varies depending on the candidate and other factors. The applicants should be prepared to go through a comprehensive review, which can take up to several months. Usually it takes 4-6 months to get a letter of support from the designated organization . Once the letter is received, the applicant can apply for permanent residence. From then it will take about 18 months to finalize the application. 5. Work permit/ Permanent residence: Candidates who have received the commitment certificate/ letter of support from the designated entity can apply for a short term work permit to work on their business upon the support of the designated entity. For candidates who want to apply for permanent residence , their business should be operational in Canada and must be incorporated there. Additionally, the candidates should be actively involved in the management of the business in Canada. Closing remarks: The Canadian Startup Visa program acts as a global platform for nurturing innovation and showcasing global talents. Therefore, any candidate embarking on this exciting journey should be well prepared and stay updated regularly with information from official sources. It is also advised to consult immigration experts for better understanding of the process and proceed with confidence. We wish good luck to all the potential candidates. All the best!