What is Canada Start Up Visa or SUV program?
The SUV Program in Canada is tailored for individuals who aim to make significant economic contributions. Applicants should possess a minimum net worth of CAD$300,000 and commit to owning and managing at least one-third of a Canadian business. Additionally, they are
required to create and sustain employment opportunities within the country within 3 years from their arrival.
Who Can Apply for SUV Program?
You can apply for the Start-up Visa Program either as an individual or as part of a group of up to 5-owners, in either case, you must fulfill specific criteria
- Possess a qualifying business.
- Obtain a letter of support from a designated organization.
- Meet the language proficiency requirements
- Ensure you have sufficient funds for settling.
Family Sponsorship Program for SUV Program
The Family Sponsorship Program is a program that allows the spouses and dependent children of Canadian citizens or Permanent Residents to immigrate to Canada permanently.
Get a work permit while you wait
If you already applied for permanent residence through the Start-Up Visa, you might be able to work in Canada while you wait if you
- show that your business will provide a significant economic benefit to Canada
- bring enough money to settle
Processing time for work permit and PR visa
The issuance of the commitment letter or letter of support typically takes between 4 to 6 months upon submission of a viable business proposal by the entrepreneur. Upon receiving this letter, candidates are eligible to apply for permanent residence. The processing time for permanent residence is estimated to be around 18 months
Unlike other programs, the startup permit program does not mandate applicants to invest their personal funds into the business. This initiative serves as a pathway to permanent residence for immigration candidates aspiring to become entrepreneurs.