The Canada Start-Up Visa Program (SUV) is the first of its kind in the world, linking immigrant entrepreneurs with experienced private sector organizations that have expertise in working with start-ups. SUV is a pilot program launched on Apr. 1, 2013 in Canada for a period of five years, then it became permanent in 2018. The main purpose of the program is to attract innovative foreign entrepreneurs to make new contributions to Canadian economic and industry development and create employment opportunities. The SUV program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that i) are innovative; ii) can create jobs for Canadians; and iii) can compete on a global scale.
Application requirements
Throughout years’ of dedication to the industry, Globevisa has established our own standard to guarantee high success rate. For Canada SUV application, we boil down the crucial conditions of our successful clients into the following points.
1. Have a transcript of more than IELTS 5 with a single score of at least 5545 (or have previously had an IELTS score above this level).
2. Have a liquidity of at least CAD400,000.
3. Possess a college degree or higher.
4. Work experience satisfying any one of the 3 criteria.
A) If in a highly skilled industry, have at least 3 years of work experience.
B) Have at least 5 years of work experience if in a non-high-skilled industry.
C) If no work experience, only a master’s degree or higher is accepted.
5. Have a certificate of no criminal record (all countries with 6 months or more of residence).
Program Benefits
1. It allows the successful applicants to obtain direct permanent residency status in Canada within 30 to 32 months. This status is extended to the applicant’s spouse and children under the age of 22 years old.
2. A permanent resident is allowed to live, work and study in anywhere in Canada without having to request any further permission.
3. A permanent resident can apply for Canadian citizenship if, among other conditions, he has been physically present in Canada for at least 1,095 days in the 5 years preceding the submission of the citizenship application.
4. The Start-Up Visa program allows the entrepreneur to obtain work permit within 2-3 months so that he/she can develop the start-up in Canada when processing for permanent residency. The spouse can apply for an open work permit simultaneously while the dependent child has access to a study permit.
5. Contrary to traditional immigration programs, SUV applicants do not need to qualify to a point system based on the age, education, etc. Therefirem, it is also important to consider that the SUV requires no basic management experience and the educational background from the entrepreneur.
6. The newly established start-up can fail and such failure will not affect the permanent residency application.
