Canada Startup Visa: How to Apply from India | Matrix Venture Studio

Canada is gearing up to welcome 5,00,000 immigrants every year by 2025, with a big chunk expected from India. The Canada Startup Visa Program is an awesome opportunity for Indian entrepreneurs to set up innovative businesses in Canada (except for Quebec).

@cgivancouver partnered with Canada India Tech Council hosted interactive session with HE Sanjay Kumar Verma. Discussions focused on research collaboration, mentoring, Startup investments, tech trade delegations, collaboration on IP protection & research security etc. @HCI_Ottawa pic.twitter.com/9iMZadNTAM

— India in Vancouver (@cgivancouver) February 28, 2024

This blog gives you a complete guide on how to apply for a startup visa in Canada from India, breaking down all the steps and requirements you need to know.

What Is the Canada Startup Visa?

The Canada Startup Visa Program aims to attract immigrant entrepreneurs who have the skills and potential to create innovative businesses. If you've got a business idea that can create jobs for Canadians and compete globally, and you can get backing from one of the designated organizations, you might just have a shot at moving to Canada!

Eligibility Requirements for Startup Visa Program

You can apply for a start-up visa in Canada either solo or with a group of up to five partners. Just remember, each person in your business team needs to submit their own application. Regardless of whether you apply alone or in a group, certain requirements must be met:

1. Have a Qualifying Business

To get in on this program, you must make sure each person applying owns at least 10% of the voting rights in the business. Plus, applicants and the designated organization together must hold more than 50% of the total voting rights. If you make the cut, you'll have to:

• set up your business in Canada
• provide active and ongoing management of your business within Canada
• make sure a big part of your business happens right here in Canada

2. Get a Letter of Support from a Designated Organization

Designated organizations are business groups that have been approved to invest in or support potential startups. To get their support, you will need to:

• get in touch with one of the designated organizations to find out how to get its support
• convince the organization that you have a business worth supporting
• get a letter of support from it

Once you've convinced the designated organization to back your idea, they'll send a commitment certificate straight to the immigration authorities.

3. Meet the Language Requirements

You need to achieve Canadian Language Benchmark (CLB) level 5. That means you need to be pretty good at listening, reading, writing, and speaking in either English or French. Your language test results must come from an approved agency and be included with your application.

4. Bring Enough Money to Settle

The Government of Canada will not provide financial support to Canadian start-up visa immigrants. So, when you're applying, you need to prove you've got enough money to support yourself and your dependents once you reach Canada. The amount you need depends on how big your family is, and they update these figures every year. But note that you can't borrow this money from someone else.

Application Process

To apply for the Startup Visa Program, you need to apply online. But if you can’t apply online and need help, including for a disability, you can request to apply in paper, braille, or large print format.

How to Apply

1. Create a Permanent Residence online application portal account. Use the Instruction Guide (IMM 5759) to help you fill out the forms correctly.
2. Include all the forms, supporting documents, signatures, language test results, and proof of payment. 
3. Fill out the following forms for yourself and any family members 18 or older:
   • Generic Application Form for Canada (IMM 0008)
   • Schedule A – Background/Declaration (IMM 5669)
   • Additional Family Information (IMM 5406)
   • Supplementary Information - Your Travels (IMM 5562)
4. Complete and upload Schedule 13 – Business Immigration Programs – Startup Business (IMM 0008 SCHEDULE 13).
5. Check the Document Checklist (IMM 5760) to check that you include all the forms and documents needed.
6. If applicable, you must complete, sign, and upload the following forms:
   • Statutory Declaration of Common-law Union (IMM 5409)
   • Separation Declaration for Minors Travelling to Canada (IMM 5604)

Processing Time and Final Steps

It takes about 37 months for them to process your application. As for the fees, they start from $2,385. That's roughly ₹1,45,184. All fees must be paid online. Your application fees will include:

• Processing fees for you along with anyone included in your application
• The Right of Permanent Residence Fee (RPRF)
• Biometrics fees
• Third-party fees (police certificates, language testing, medical exams)

If you are between 14 and 79 years old, you need to give your fingerprints and a photo (they call it biometrics) every time you apply for permanent residence, even if you already did it before and they're valid. Once you receive the letter instructing you to provide biometrics, you have 30 days to complete this step.

Make sure you fill in all your answers properly and be honest about everything. If they catch any false information or significant omissions, they might refuse your application.

Conclusion

Canada Startup Visa Program offers a unique opportunity for innovative entrepreneurs from India to establish businesses that contribute to Canada’s economy and compete globally. If you're keen on joining, just meet Canada startup visa requirements and follow the online application process step by step.