Investment Visa or Start Up Visa (SUV) for foreign national

Canada offers a specific path for foreign nationals who wish to start a business in the country through its Start-Up Visa Program. This program is designed to attract innovative entrepreneurs who have the potential to build businesses in Canada that can create jobs for Canadians and compete on a global scale.

Eligibility Criteria for the Start-Up Visa Program:

1. Business Idea: You must have a qualifying business. A qualifying business means you hold at least 10% of the voting rights attached to all shares of the corporation outstanding at the time (and, together with a designated organization, hold more than 50% of the total voting rights).

2. Letter of Support from a Designated Organization: You need a commitment from a designated organization (venture capital fund, angel investor group, or business incubator) that is willing to invest in your new business. You’ll need to pitch your business idea to get their support and obtain a Letter of Support.

3. Language Proficiency: You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in speaking, reading, listening, and writing.

4. Sufficient Settlement Funds: You must show that you have enough money to support yourself and your dependents after you arrive in Canada. The amount required varies depending on the size of your family.

Application Process:

1. Get your documents ready: This includes your Letter of Support, proof of business ownership, results of language testing, and proof of funds.

2. Complete the forms: All required forms for the Start-Up Visa application must be completed accurately.

3. Pay the fees: Fees include processing fees for you and anyone you include on your application, and the Right of Permanent Residence Fee (RPRF).

4. Submit your application: You can submit your application online or on paper. Make sure your application is complete to avoid delays or rejections.

5. Biometrics and Interview: After applying, you may need to give biometrics (fingerprints and photo). You might also be called for an interview.

6. Medical exams and police certificates: These may be required to finalize your application.

Processing Time:

The processing time can vary, but it generally takes several months to process applications under the Start-Up Visa Program. The time can be longer or shorter depending on the specific case.

It’s advisable to regularly check the official Immigration, Refugees and Citizenship Canada (IRCC) website or consult with Go Global One for the most accurate and updated information regarding the Start-Up Visa Program and other immigration pathways.