Start-Up Visa Program Lawyers in Toronto Helping Immigrants Launch a New Business in Canada
In addition to opening its doors to families worldwide, Canada is also looking to welcome inspiring entrepreneurs who wish to start a business. Canada takes a particular interest in start-up companies which they believe have the chance to enrich the local economy and provide numerous employment opportunities for the Canadian workforce.
If you are a foreign entrepreneur with a vision, you may qualify to immigrate to Canada via the Start-Up Visa (SUV) program.
Canada’s Start-Up Visa program grants permanent residency to accepted applicants looking to launch a business there. Not all who apply are eligible for the program, however, and immigration officers have the right to decline an applicant if they feel their business model is lacking in some way.
Contact Loft Immigration Services Inc to increase your chances of a successful application dramatically. Our respected legal team has years of service dedicated to helping clients like yourself achieve their dreams. We offer both legal services and advice in a consultant role with a high success rate.
To begin your visa application process, contact our law firm to schedule your free initial consultation. We would be proud to assist you through the complex immigration system to pursue your business goals.
Who Qualifies for Canada’s Start-Up Visa Program?
There are five primary characteristics that all successful applicants have:
- Have a qualifying business. This factor is determined by whether you possess at least 10% of the corporation’s voting rights. Additionally, no other person can hold 50% or more of the company’s voting rights. Up to five other applicants may attach their applications for permanent residency via an SUV. However, if any of those applicants back out or are denied, all other connected applications will be summarily terminated, and the process must begin again.
- Have a letter of support from a designated organization. This means showing that you have the support of a qualifying angel investor group, venture capital fund, or designated business incubator.
- Have sufficient funding to support yourself and your dependents. Your family’s size and needs will determine the finances you will require.
- Can demonstrate sufficient proficiency in either English or French languages. This may feel unfair to some, but it is necessary to get accepted by the Start-Up Visa program. The country will not require you to speak English or French as though they are your first languages, but you must show that you can express and understand basic thoughts. You will undergo a language exam under the supervision of a pre-approved organization. The exam will test your ability to read, write, speak, and comprehend spoken language at the minimum level of French or English.
- Once your business model is approved, you must undergo a medical and security check to obtain clearance for permanent residency.
A slip-up in any of these sections could result in your application being rejected. Please don’t leave it to chance; ensure everything is in order and your presentation looks as good as possible. Our SUV lawyers can assist you every step of the way by providing insight that’s been forged over many years of legal experience.
How Long is the Processing Time for Start-Up Visas?
We understand that you are eager to get your application approved and start your business in Canada.
Good things come to those who wait, or so the saying goes. And, unfortunately, you’ll be in for a bit of a wait. At the time of this writing, the processing time for a Start-Up Visa is approximately three years.
What Are the Pros and Cons of the Start-Up Visa Program?
The SUV program offers several benefits, including:
- A direct path to starting a business in Canada with the help of local professionals.
- Affordable housing in a country that scores among the world’s top for quality of life and social purpose.
- Apart from not having the right to vote, you will be afforded all other Canadian citizens’ rights.
- Canada’s world-class healthcare system is free.
- It is possible to obtain Canadian citizenship within three years.
- The language requirements are minimal.
- The potential to generate income via the investments of Canadian corporations.
- The quickest way to obtain permanent residency is via a Canadian business immigration program. Permanent residence is also granted to the applicant’s spouse and children under 22. And, if your business fails, you are allowed to keep your permanent resident status in Canada.
- …and more.
There are some notable disadvantages to the program, however. These include:
- The lengthy processing times.
- There exists the chance that your application, or your permanent residency, may be rejected.
- There is much competition for support from the designated organizations. As such, it can be challenging to obtain this support, which is a vital element to a successful application. One way to help get that support is if you and your partners invest a great deal of money into your venture – which is not possible for everyone.
- Your business model must be carefully crafted to convince immigration officers and investors.
What if an Immigration Officer Rejects Your Application?
Only some applications are accepted. With our track record of success, our law firm can help you pursue the outcome you most desire, granting you and your partners a pathway toward starting a new business in Canada.
If you attempt to go it alone, you may spend a lot of time, money, and energy only to get denied.
Schedule a Free Consultation with Experienced Immigration Lawyers Today
The SUV program is helpful for visionary entrepreneurs to start a new business in Canada. But you must meet the rigid requirements to have your application considered. Loft Immigration Services Inc has the experience and knowledge to assist you through this process.
Get in touch today to begin your free case evaluation. 647-495-3724.