What are the key criteria for a Start-Up visa application? (Part 1)

KeyApply specializes in advising on business immigration models. With a team of leading Canadian experts and lawyers, KeyApply has extensive experience with numerous business applications, particularly the Start-Up Visa model, a unique model within all Canadian business immigration programs.

The process for completing a Start-Up Visa application is not as detailed and specific as is typical of traditional provincial investment programs. The Start-Up Visa does not have a points system, nor does it have detailed requirements specifying what documents must be submitted to prove the start-up business. Therefore, everything depends on whether the customer support team can meet the following three criteria.

1. Do you have practical experience, an understanding of the Canadian business environment, and a global strategic vision?
2. Are there skilled technology and innovation research professionals who can lead projects and clients to achieve the highest standards of innovation and exclusivity that no one else possesses?
3. Are there immigration lawyers who understand the Start-Up Visa model and are competent enough to complete immigration applications with all the innovative business elements?

The Start-Up Visa can be divided into two important stages:

• Before the Letter of Support
• After receiving the Letter of Support

Here's a detailed breakdown of what will happen before and after receiving a Letter of Support.

When we conducted research on Start-Up Visas, most people were interested in "How to get a Letter of Support?". Many also thought that having a Letter of Support automatically meant getting PR – Canadian permanent residency. This is incorrect. A "Letter of Support" is not a guarantee of permanent residency, although it is an important factor. Besides the "Letter of Support," there is another crucial element that will be discussed in this article.

To qualify for a Start-up Visa , the following five conditions must be met.

1. The possibility of establishing a business in Canada.
2. Receive a Letter of Support from one or more designated organizations for the Start-Up Visa program.
3. Possess an English or French language certificate at level 5 as defined in the Canadian Language Benchmark.
4. There is enough money to cover the family's living expenses for the first year in Canada.
5. The business model must meet the criteria of the Start-Up Visa.

Therefore, the Letter of Support is one of the five criteria. The fifth criterion is also an extremely important one for the Start-Up Visa.

Fifth criterion: What kind of business model meets the criteria?

A very common phrase when people talk about the Start-Up Visa is "innovation." This is a concise phrase, but it clearly shows the difference from all other provincial-level investment entrepreneur programs. At the provincial level, entrepreneur programs can involve common business ideas that have already existed elsewhere. But with the Start-Up Visa, the idea must be unique and different. The things that a Start-Up Visa business must have are:

• Innovation
• Create jobs for Canadians.
• It has the potential to develop global competitiveness.
• The company must operate primarily in Canada.

The Start-Up Visa requirements above show that while the "Letter of Support" is important, it's only the first part of the permanent residency process. So what's the next step after the "Letter of Support"? It's demonstrating that you have a business model that meets the Start-Up Visa criteria.

The process of applying for Canadian permanent residency through the Start-Up Visa.

After receiving the Letter of Support, the next step is to prepare the necessary documents for applying for permanent residency (PR) and a work permit, if required. The application is then reviewed by a visa officer. The visa officer has the authority to make a decision on your application based on their assessment.

Unlike before, the application review process at this stage has become more rigorous. Your capabilities and commitment to operating a start-up business in Canada will be thoroughly examined. Evidence demonstrating the company's operational potential and future growth must be clearly and comprehensively presented. Additionally, they will verify the procedures of the designated letter of support issuing bodies to ensure they meet the required standards.

Some cases found in federal court rulings show that the reasons for Start-Up Visa rejection stem from the following points:

• The company's presentation was unrealistic and deliberately staged.
• The financial model is unrealistic.
• Unable to demonstrate the ability to operate a business in Canada.
• Business ideas and business plans that do not follow feasibility assessment steps (Due Diligence)

How can we avoid these problems?

(Please see Part 2)