Canada Start-Up Visa program is a fantastic opportunity for International Students with business experience or entrepreneurial background to attain permanent residency in less than six months. While some may argue that international students from business families attending a Bachelor of Business Administration Program (BBA) or a Master’s of Business Administration (MBA) program may have advantage over students attending non-business courses, I think it is an equally excellent opportunity for all categories of International Students whether attending business or non-business programs, recently graduated or the ones who are future aspirants in the home country still in the process of identifying the right college or university for themselves.
From the general mathematics standpoint the tuition and living expenses to attend a BBA (or equivalent undergraduate) program over four years is in the range of CDN$100,000 to CDN$150,000 in Vancouver or Vancouver Island area (British Columbia). Likewise, for an MBA (or equivalent 2 year graduate) program the range is CDN$ 80,000 to $150,000. This range varies according to the institution and program you are enrolled in, your location, and living choices.
What does this mean? This means that International Students who had planned to attain Canadian permanent residency as a student + work experience strategy can now use Canada Start-Up Visa as a pathway to Canadian permanent residency. They can now plan to channelize their investment in education towards the Start-Up Venture. Often times these students also have additional funding support of their parents and it might also be possible for them to leverage their family’s business experience. In certain cases it can be possible for a group of students to come together to launch a collaborative Venture.
Typical International Student Scenario 1
A typical process that high investment potential student follows is:
- apply to colleges and universities for admissions;
- wait for letter of acceptance get a study permit;
- attend college or university;
- graduate and get a post graduate work permit;
- get work experience if lucky to find employment; thereafter, only the one who meets the requirements of available immigration options can apply for permanent residency.”
Canada Start-Up Visa International Student Scenario 2
“An innovative high investment potential international student with business management or entrepreneurial experience now has three possible options:
Option 1 is to pursue education in Business, Management or a Non-Business program and follow the scenario1 above. Qualified students from this option may be able to start a Venture after completing the program. However, this investment will be a total cost of education, living expenses, and the cost of starting a venture;
Option 2 is to Start a new Venture– in the same field as previous experience or an absolutely new innovative business concept, get permanent residency in less than 6 months and if required pursue higher education after obtaining permanent residency; and
Option 3 is to channelize the investment in education towards establishing their own Start-Up Venture working with a team of highly experienced business mentors to build a Venture with global scalability. Investing in a Start-Up Venture Visa program is similar to doing an executive level Masters of Business Administration from an elite business school with a major in International Business. All along the program the student applies that practical hands-on experience to establish the Venture. The mandate of the program is to empower the founders to build business models to become the best in the world.
International Student Case Study – Why I would have opted for Canada Start-Up Venture Visa Program?
I came to Canada as an International Student in 2009. At the time when I was planning my Canadian educational pursuits if a program like Canada Start-Up Visa was available, there is no doubt it would have been my first option. The amount of money that I had invested in my education and living expenses over a period of two years and adding some more funds would have helped me to start my own Venture. Over the period of two years that I had spent studying I would have not only attained my permanent residency but also established my own Venture. This would not only have created self- employment but many more jobs for the labour market. It took me over 40 months from the time I started my study program till the time I acquired qualifying work experience to apply for permanent residency. However, the historical processing time to obtain permanent residency under the Canada Start-Up visa program is 2.5 months to 6 months-Yuri Ahuja, Barrister & Solicitor, ImmiCan Law Corporation.
The Canada Start-Up Visa Program Overview
Canadian immigration policies constantly change creating uncertainty around immigration solutions. The Canadian Start-Up Visa is particularly suited to high potential entrepreneurs who endeavour to create a fully established business with global scalability potential. This is the fastest, unique, & assured opportunity available to business owners or people with business experience prepared to explore Canadian entrepreneurial journey in obtaining Permanent Residency in 2.5 to 5 months (Based on historical processing time).
With the Start-Up Visa, Canada is targeting a new type of immigrant entrepreneur who has the potential to build innovative companies that can compete on a global scale and create jobs. This program is not limited to any particular industry sector. However, a start-up venture investment backed by innovation and technology propels an ordinary business concept. The examples of business ventures range from manufacturing baby food or wood products, solar powered equipment to developing a software application.
What Do you Need to Do?
You need to get assessed for the key requirements of the Start-Up Visa program:
- High Potential Investment – Business Concept and Net Worth
- Entrepreneurial Experience
- English Language Skills (CLB level 5)
The assessment is case-to- case basis. There is no specific investment benchmark.
How will the assessment help?
This will help to get support for your start-up from a Citizenship and Immigration Canada (CIC) designated new Business Incubator, and then you can immigrate quickly to Canada as a Permanent Resident. We work in collaboration with the CIC designated new Business Incubator to assess successful applicants. For qualified business people our collaborator Business Incubator has the ability to issue commitment certificates to fast-track the immigration to Canada.
In addition to passing the standard health and security criteria, the candidates will have completed at least one year of study at a post-secondary institution.
The Key Benefits are:
The Start-Up Visa program provides an international entrepreneur with the ability to start a new venture in Canada and leverage the local-knowledge of a Canadian business incubator team. This team will be genuinely working hard on this new venture.
The team will deliver curriculum and mentorship to accentuate your strengths and overcome challenges. They are start-up experts that empower founders to build business models to become the best in the world.
Through the CIC Designated Start-Up Business Incubator the new Ventures will have support access to the Research and Development lab of UBC and Simon Fraser University
We assist working in pre-screening candidates from business proposal stage to preparing the permanent residency application package in collaboration with the CIC designated new Business Incubator responsible for the province of British Columbia. Based on the historical data the processing time to obtain Permanent Residency is 2.5 to 5 months.
The Question is Why Start your Business in Canada?
There are many reasons why Canada is the best place to build your business:
A strong economy
Low taxes and low business costs
Excellence in research and innovation
Top quality of life
We believe it’s the best place in the World to live and raise children