Frequently asked questions about Canada’s Start Up Visa program
1. What are the main advantages of applying for Canada’s Start Up Visa?
2. Is the Start Up Visa extendable to my family members?
Yes. The spouse/common-law partner and dependent single children under 22 years old of the applicant may also apply for a PR visa under the same application. The family can reside anywhere in Canada except for Quebec.
3. Can I and my family have free healthcare and education in Canada?
Yes, you can. Canadian citizens and permanent residents may apply for public health insurance with which they don’t have to pay for most health-care services.
Permanent residents also have the right to free education up to the age of 18 in the Canadian public school system. When it comes to university, tuition fees are dramatically reduced for permanent residents when compared to international student rates.
4. Can I invest in this program while staying in Vietnam?
Yes, you can do everything from Vietnam and you don’t have to travel to Canada for at least 16 months (4 months til the interview, 12 months to get PR and it is valid for 6 months).
5. How can I qualify for the Start-up Visa Program?
To qualify for the Start-up Visa Program, you need to show that you:
- incorporate a company and develop a business concept or idea in conjunction with a designated organization and get a letter of support from it (EVERYTHING will be done for you by Odin Land and our partners including business plan and full training for the interview)
- meet the language requirements
- have enough money to settle and live in Canada, and
- meet the admissibility requirements to enter Canada (health check, criminal record check, etc.) (these apply to all applicants, not just Start-up Visa Program applicants)
6. What level of language proficiency do I need for a start-up visa?
To apply for a start-up visa, you must show that you have basic proficiency in English or French CLB 5 (~5.0 IELTS) or greater. With your application, you need to submit the results of a third-party language test that show that you meet the requirement.
7. Do I have to be a business owner or prove my source of funds to apply for the program?
No, you don’t have to own a business or provide a source of funds to apply for the program. However, business ownership or management experience would be beneficial.
8. Do I need to keep any savings to apply for a Canadian PR?
Yes. The amount of money you need to support your family depends on the size of your family.
This table shows the minimum amount you need to immigrate to Canada. If you have more money, you should list the full amount in your profile or application.
9. Do I need a medical exam and a security clearance for this program?
Yes, you do. Candidates cannot be inadmissible to Canada for medical, security or criminality reasons.
10. What is the application process for the Start-up Visa Program?
First, Odin Land and our exclusive partner will develop the business concept and prepare you for the interview with the designated organization (business incubator) to convince it to support your start-up company. Once a designated organization decides to support your business, it will send the Government of Canada a commitment certificate and give you a letter of support. Application is processed and a permanent residence visa is issued in 12 months.
11. How long does it take in total to obtain PR through Canada’s Start Up Visa Program?
About 16 months. It’s 4 months until the interview and then 12 months to process the PR application.
12. If I immigrate through the Start-up Visa Program, what happens if my business does not work out well?
The Permanent Residence Visa is not tied to the performance of the business concept. If your business fails, it doesn’t affect your permanent resident status.
13. Are there any risks in this investment program?
This is a simple, straightforward and safe investment program. You have to make an initial payment of CAD 40.000 and ONLY have to pay the balance of CAD 160.000 after you pass the interview. Otherwise you will get a FULL REFUND of the CAD 40.000 investment.
14. Are there any more costs other than CAD 200.000?
The CAD 200.000 payment covers our professional services, processing fees, business plan creation, incubator interview preparation, and legal appeal of the federal application (if required).
Extra costs include travel expenses and other fees such as Odin Land’s service fee (USD 5000), Business Immigration application processing fee (depends on the number of people), Right of Permanent Residence fee (CAD 500 per person).
15. Is Odin Land licensed to run this program?
Yes. We are authorized to promote Canada’s Start Up Visa program on behalf of Confederation Partners, a Canadian pioneer and long-time specialist in business immigration and citizenship since 1989. Odin Land will provide you with the best consultation and assist you during the whole process.