In this ever-evolving economy, starting a business requires more than just a great idea. It requires a demanding ecosystem, strong support networks, and access to resources that spark innovation. As we enter into 2025, Canada still holds its reputation as a startup powerhouse, inviting entrepreneurs globally.
Canada provides a perfect environment for businesses to thrive with its business-friendly policies, access to funding, diversified talent, and strong government support. But the question is: why are more and more people applying for Canada start up visa than ever before? Here are some compelling reasons for wanting to know the answer to this question.
One of the primary reasons the Canada startup visa is popular is that it provides all applicants and family members access to direct permanent residency. Unlike other programs like the Canada Entrepreneur Program, which is run by provinces, the startup visa program is offered by a federal program, allowing the chosen applicants to attain direct PR.
Accessing the Canada PR through the startup program comes with numerous social benefits for the whole family, including free healthcare and education, retirement benefits, family support, business insurance, and more.
Another benefit is that you can establish a business in Canada without any investment. And that is possible by securing a letter of support from Venture Capital Funds or Angel investor groups. These investment firms will not only invest in your business but will also provide valuable guidance.
However, if you obtain a letter of support from a Business Incubator, you will be required to invest in the business. In return, they will provide complete assistance in setting up your business in Canada, along with legal support.
Like other visas, including the Canada Investor visa, the startup visa also takes 12-16 months to process. Meanwhile, you can enter Canada and work until your startup visa application is processed. With this work permit, you can enter Canada and start your startup business.
As the Canada startup visa is a federal program, you can start the business anywhere in the country and settle in any province. Also, you can switch provinces if you want. However, if you fall under the Provincial Business Entrepreneur Program, you are not allowed to start a business other than in your chosen province.
If you are applying for the Canada startup visa, you are required to score a minimum CLB of 5. This requirement is considered the lowest to demonstrate language and proficiency in an immigration program. For this reason, this startup visa program is highly desirable.