Start-Up Visa program grows in popularity

Start-Up Visa program grows in popularity

In the first quarter of 2022, 160 people were invited to Canada.

Canada has a special program for entrepreneurs who want to establish a start-up.

To apply, you must submit a detailed business plan to one of the three organizations that support foreign start-ups and are authorized to make such a commitment under the Start-Up Visa program:

  • business angels;
  • venture capital funds;
  • business incubators.

If your business is approved, the organization issues a Letter of Support, which can be used to apply for a permanent residency in the Canadian government.

The requirements of the program oblige you to have some money in your bank account (not too much) for your family to settle in Canada. But practice shows you need to invest significantly more to convince a business incubator to support you.

If you need help coming up with a project to apply for a Start-Up Visa, writing a business plan, and preparing for an interview, the cost could be $100,000-250,000 CAD.

Our immigration company has successful cases of receiving Letters of Support from incubators. Book a consultation with an immigration consultant to assess your chances of obtaining a permanent residency through the Start-Up Visa.

Start-Up Visa

History of the Start-Up Visa invitations

The program was launched in 2015. The table below shows the number of people who received permanent residency.

2015 2016 2017 2018 2019 2020 2021 2022 (first quarter)
55 110 135 240 515 260 385 160

This year Canada is likely to break the 2019 record for business invitees. If 160 people are invited in each of the next quarters, Canada will welcome 640 new permanent residents this year.

Source
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