Canada is a place of opportunity that has developed into a magnet for entrepreneurs and company owners. For individuals who want to start a business in Canada, the Start-Up Visa Canada is one of the most appealing possibilities. This program enables international entrepreneurs to gain permanent residence in Canada by launching and running a successful start-up business.
While this program has the potential to be a fantastic opportunity for businesses, it is not without its limitations. The application procedure for a Start-Up Visa can be complicated, and entrepreneurs may face roadblocks along the way. However, with proper planning and persistence, it is feasible to overcome these obstacles and achieve success in Canada’s vibrant and diversified economic scene.
How Do You Apply For Permanent Residency Via the Startup Visa Programme?
Step 1: Obtain a Letter of Support
Prospective entrepreneurs must first receive a letter of support from a designated organization that is willing to fund the firm. This entails proposing the business concept to several chosen organizations. If any organization agrees to help the entrepreneur’s business, they will provide a certificate of commitment to Immigration, Refugees, and Citizenship Canada (IRCC).
Step 2: Finish the Application and Gather the Required Documents.
Entrepreneur Visa Canada applicants must then download the application packet for this program from the Government of Canada website. They can then fill out the forms and acquire the documentation needed for their application.
Step 3: Pay the Application Fees.
Startup Visa candidates must then pay the application fees online. This comprises the following charge types:
- Processing Fees.
- Fees for Permanent Residency and Biometrics.
Step 4: Fill up and submit the Startup Visa Application.
After completing all of the aforementioned processes, the Startup Visa applicant can submit their application to the postal address indicated in the instruction handbook.
Step 5: Submit Biometric Data and Pass the Medical Exam.
The IRCC will then call the Startup Visa applicant and request biometrics. Recent photographs and fingerprints will be taken at a certain spot.
Arriving in Canada on a Startup Visa
1. Preparation and planning for the arrival
Some people feel that they would be able to settle in Canada as soon as they exit the airport, but the truth is that they will face numerous challenges if they do not begin planning ahead of time. This includes the following:
Finding a Place to Live: It usually takes 1 to 3 months for the average immigrant to find a place to live in Canada. This means that entrepreneurs who haven’t planned ahead of time will be forced to spend money on hotels or overpriced OTAs until they can find a more permanent sort of housing. As a result, it is critical to begin the home or flat rental search early and have it completed before coming to Canada.
Opening a Bank Account: Entrepreneurs will require a business bank account. This process is quick, but exploring several banks and the business account alternatives they provide is crucial. This will assist you in locating a good alternative for your Startup.
Access to Healthcare: Depending on which Canadian province you settle in, you may be allowed to use public healthcare services as soon as you obtain permanent residence. Some provinces, however, require new permanent residents to wait three months before using such healthcare services. Until then, new immigrant businesses must rely on private healthcare services, thus it is advisable to research private healthcare service providers before arriving in Canada.
2. The Arrival and Settlement Experience in Canada.
Entrepreneurs that relocate to Canada may confront a variety of problems, including culture shock, language barriers, and networking issues. Entrepreneurs who are unfamiliar with Canadian business conventions and practices may experience culture shock. Language hurdles can also be a major impediment, especially for people who speak English as a second language. Furthermore, entrepreneurs may find it difficult to discover networking opportunities and create contacts in their new location, making it tough to establish a profitable firm.
3. Obtaining Resources and Assistance
Finding tools and assistance to help one settle in Canada can be difficult at first. It is feasible, however, to gradually develop a network of specialists and people who can provide beneficial resources in times of need. Entrepreneurs with a Canada Startup Visa, for example, can participate in mentorship programs, attend networking events, and operate in co-working facilities to expand their support network.
