Start-up Visa （SUV）
SUV project history:
On October 26, 2013, a new Canadian immigration project-“Start-up Visa” (Start-up Visa) was born! The project is tentatively scheduled for 5 years of trial implementation.
In July 2017, the Canadian Immigration Department considered the project a success and announced that it would be permanent.
On March 31, 2018, the five-year pilot project ended, and it was officially converted to a permanent immigration program in Canada on April 1.
The plan will issue visas for up to 2,750 families each year, and each business plan can accommodate up to 5 families. And because it is a federal project, there is no provincial nomination stage, so you can usually get permanent residency status in 12-16 months.
Application conditions:
- More than one year of higher education;
- Language requirement CLB5;
- Sufficient start-up funds (based on business plans) and settlement funds;
- No criminal record;
- The applicant and accompanying family members are in good health.
- When obtaining a letter commitment from an agency designated by the Canadian government, each applicant must hold at least 10% of the company’s equity. The Canadian government-designated agency and all applicants must jointly hold more than 50% of the company equity. When obtaining Canadian permanent residency, the company must be registered and established in Canada and must conduct business in Canada, and the applicant shall actively continuously manage its company’s business in Canada;
- Applicants must obtain a letter of support from agencies designated by Canadian Federal Government (Venture Capital, Angel Investment groups, and business incubator project)
Project Benefits:
- Low requirement: no work, business or management experience requirements
- Fast approval – one to one and a half year
- Stable applicant Canadian status – business result does not affect the Canadian status the applicant have obtained.