Canada Start Up Visa: Everything You Need To Know To Apply

Entrepreneurship is a great way to create jobs, grow businesses, and create wealth. It stimulates the economy and leads to positive social change. But this isn’t always easy. To start a project in Canada, you need to have the right paperwork.

If you’re considering starting a business in Canada, this article will help you apply for the Canada Start Up Visa.

What Is The Canada Start Up Visa?

The Canada Start Up Visa is a type of work permit for Canadian entrepreneurs. This work permit can be obtained by foreign entrepreneurs with the help of a recognized Canadian venture capital firm. The visa allows you to live in Canada for up to 2 years, work in Canada for 2 years, and then leave Canada with your business as well as your knowledge, skills, and experience.

This type of visa is ideal for those looking to start a business in Canada because it gives them the time needed to get their project off the ground. It also makes it possible for you to return home at the end of your stay without having to worry about losing any investment money or personal property.

How Do You Apply For The Canada Start Up Visa?

The canada startup visa program is made possible through the Business Innovation and Skills Plan. This plan allows foreign entrepreneurs to apply for a 25-month work permit once they have a business plan and also have an investment of at least CAD 200,000.

To qualify, you must be able to demonstrate that your business has commercial potential and that it can create jobs in Canada.

To apply for the Business Innovation and Skills Plan, you need to submit a business plan online or by mail. Your business plan should include:

– A description of your business

– The market share of the product or service you are planning on providing

– How your product or service will make money

– The number of employees you will hire during the first year of operation

Once you’ve completed this step, submit your application with supporting documents to the Immigration Department for review. It takes about six months for them to respond with an approval or rejection letter.

If approved, your application will move on to visa processing where it takes another few months before you get your Canadian temporary resident visa approved.

What Is The Timeline For A Canada Startup Visa Application?

You’ll need to file your application with the appropriate Canadian embassy or consulate. This process can take 6-8 weeks, and you’ll need to provide the necessary documents as part of your application. You will also need to attend an interview at the Canadian embassy or consulate, which can take up to 2 hours.

Conclusion

The Canada Start Up Visa is a great option for startups in Canada looking to secure funding and access to Canada’s reputable startup ecosystem.

Although the application process for the CUSV can be a bit tedious, it does not come without its benefits. The CUSV has significantly less red tape than other visas, and the visa allows you to stay in Canada for up to five years. It also has a lower application processing fee than other visas.

Startups should consider applying for the CUSV if they are looking to build their business in Canada.