Overview of StartUp Business Visa Program
Qualifications Guidelines
A qualifying business, as per the government regulations, means that each applicant for the SUV holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time (5 people, max, as owners) AND applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time.
Proof of funds must be shown in an official letter from any bank or financial institution where the money is held.
The potential client MUST have sufficient settlement funds (transferable and available funds, free of debts or other obligations and excluding an investment made by a designated entity into their business), according to the following table:
- 1 person (e.g. individual) $13,757
- 2 persons (e.g. husband and wife) $17,127
- 3 persons (e.g. husband, wife and kid) $21,055
- 4 persons $25,564
- 5 persons $28,994
- 6 persons $32,700
- 7 persons $36,407
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For each additional person, thereafter $3,706.
These amounts may be changed, please check www.canada.ca for accurate & current information.
These funds can be in the form of cash; property or capital that is payable to the applicant; bankers’ drafts, cheques, travelers’ cheques, or money orders.
The applicant cannot borrow this money from another person.
If a work permit application is to be submitted with a permanent residence application, in addition to the settlement funds, investment funds are also required. (Almost double the settlement funds).
Language Requirements
All applicants must intend to reside in a province or territory OTHER THAN QUEBEC.
SUV Program Process With Canadian Startups Business Services Corp (CSB)
Pre-Application Support
- Formulate client’s Business Plan as per the requirements of SUVP
- Conduct market research and share the required and supporting information related to the potential idea.
- Establish & Complete the Process of the MVP Development with the support of Startup Founders/Partners (Website/Portal/App development and complete the Market Validation).
- Create a Roadmap for the Client’s SUVP Application.
- Application compilation & Submission for the Incubator Only.
- Advise and Assist in Correspond with Designated Angel Investor/Venture Capital/ Business Incubator for Commitment certificate.
- Compile and submit Startup Application for submission to Designated Organization.(Up to 3).
- Guide client for the interview with the Designated Organization. The Consultant will take all necessary measures to respond to Incubator queries and get the support letter issued.
After Acceptance of Startup Project by Designated Organization
- Assistance in Business Incorporation (Govt. Fees not included)
- Assistance in PR & Work Permit applications and compilations and submission (By a Registered Immigration Consultancy through a separate retainer agreement (Canadian Startup Business Services Corp is not an immigration consultant/Lawyer)
- Support in Preparation for Arrival in Canada and Startup Operations
- Provide the required information and support to get the operational and financial support from incubators or government agencies.
- Review all the IRCC correspondence with RCIC/Lawyer and advise the CLIENT about compilation of response regarding the Startup Business Operations. (The client will submit the Application and response through the Immigration Consultant/Lawyer).
Information regarding Permanent Residence
- Proof of language proficiency
- Letter of Support
- Identity and Civil Documents
- Children’s Information (if applicable)
- Police Certificates and Clearances
- Photo Identification
- Educational Documents
- Experiences Letters
- Proof of funds
- Copies of passports
- International Travel History
- Any international visa applications history, refusals reasons etc.
- Any additional documents
