What is the Canada Start-Up Visa (SUV) program like? How do you apply for the Canada Start-Up Visa (SUV)? As a gold-standard project for immigrating to Canada, the Saskatchewan Immigrant Nominee Program (SINP) for skilled workers has been recognized and highly regarded by more and more people due to its extremely low application requirements, high approval rate, and numerous advantages.
Background of the Canada Start-Up Visa (SUV) Program
The Canada Start-Up Visa (SUV) program is actually a relatively long-standing immigration program, but because its target audience is small, it has historically received less attention from applicants. In recent years, as Canada has tightened its immigration thresholds, the SUV program, with its high approval rate and fast processing, has returned to the public eye.
How to Apply for the Canada Start-Up Visa (SUV) Program?
The Canada Start-Up Visa (SUV) program is a fast-track immigration policy launched to attract international innovative entrepreneurs to start businesses in Canada. It aims to help these innovative entrepreneurs immigrate to Canada more quickly and rapidly build globally competitive innovative enterprises.
Canada Start-Up Visa (SUV) Policy
The Canada Start-Up Visa (SUV) program is a five-year pilot project launched by the Canadian government in March 2013. Its purpose is to attract international talent and entrepreneurs with technical expertise and entrepreneurial potential to start innovative businesses and settle in Canada, helping Canada introduce new technical knowledge, create more job opportunities for local residents, and contribute to economic growth and enhanced global competitiveness. In July 2017, Immigration, Refugees and Citizenship Canada (IRCC) announced that the program would become a permanent immigration policy. Compared to the currently more challenging path of studying and immigrating to Canada, the processing of the Canada Start-Up Visa (SUV) is relatively fast, and the success rate is very high.
Application Requirements for the Canada Start-Up Visa (SUV)
The application requirements for the Canada Start-Up Visa (SUV) are relatively relaxed; applicants only need to meet the following conditions.
Conditions that applicants must meet:
1. Age 18 or older
2. Language proficiency of CLB 5
3. Sufficient settlement funds (only 20,000 CAD required for a family of three)
4. A certain background in management experience
Application Process for the Canada Start-Up Visa (SUV)
The application process for the Canada Start-Up Visa (SUV) program is as follows:
1. Sign a contract with Worldway Immigration after passing the preliminary assessment
2. Prepare a business plan and submit it to an incubator for review
3. Pass the incubator review and receive an invitation letter from the incubator
4. Sign a contract with the incubator and make an investment to start the business
5. Receive a Letter of Support from the incubator
6. Prepare application materials and submit the immigration application to the federal immigration authorities (you can simultaneously apply for a work permit to enter Canada quickly)
7. Pass the federal immigration authority review (12-18 months)
8. Obtain an immigration visa and land in Canada
9. Obtain a Permanent Resident Card (Maple Leaf Card) and manage the business
Costs of the Canada Start-Up Visa (SUV)
What are the costs of the Canada Start-Up Visa (SUV)? The costs of the Canada Start-Up Visa (SUV) mainly consist of other expenses incurred during the immigration process. The specific cost items are as follows:
1. Canada Start-Up Visa (SUV) program application fee
2. Agency service fee
3. Foreign lawyer fees
4. Notarization fees for documents related to the Canada Start-Up Visa (SUV)
5. Translation fees for documents related to the Canada Start-Up Visa (SUV)
6. Federal application fee for the Canada Start-Up Visa (SUV)
7. Biometrics fee
8. Right of Permanent Residence Fee (landing fee)
9. Medical examination fee
10. Visa stamping fee
What are the advantages of the Canada Start-Up Visa (SUV)?
The Canada Start-Up Visa (SUV) program has many advantages; only the following 7 points are listed below.
1. Fast approval speed, obtaining a Permanent Resident Card in one step
2. No investment amount requirement, no age or education requirements
3. No need to explain the source of funds, no need to provide personal tax returns
4. Whether the business succeeds or not does not affect the Permanent Resident Card
5. High degree of freedom, can choose a preferred city to start a business and settle
6. High flexibility, can obtain a work permit to land in advance or land after obtaining the Permanent Resident Card