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You can’t live with it, and you can’t live without it. It’s a love-hate relationship we all have with the Canadian Federal Startup Visa program also commonly known as SUV. It’s one of the most popular Canadian business immigration programs since 2018 (although it was launched in 2013). Immigration agents, lawyers, consultants, and some clients love it. We will find out why this very popular and contested program is loved by many and detested by the rest. All the advantages and disadvantages of the Startup Visa program explained to you with ZERO bias. The raw truth and nothing but the truth!
You’re thinking of applying for the Startup Visa program, but you haven’t decided yet. And if you don’t know yet about the Canadian Startup Visa program, I recommend you to first watch our introductory videos about this program before you read this article, click here.
The Startup Visa program is 1 of only 2 Federal business immigration program programs offering direct PR for Canada. There are not a lot of choices out there when it comes to direct PR business immigration programs in Canada, especially on the Federal side.
At INGWE we are EXPERTS in the Canada and UK Startup Visa. We will guide and support you throughout the endorsement letter or Letter of Support process and the entire immigration process including work visas and permanent residencies. Get a FREE email assessment with us, fill out our form, click here.
Why would the SUV program be a perfect fit for applicants? Here is a list of the main advantages and reasons anyone would apply for this program:
You can apply directly for PR from outside Canada upon receiving the Letter of Support from the designated organization and meeting all eligibility criteria.
No documented minimum investment amount for the Startup group of co-founders (unlike the Provincial Entrepreneur programs)
The only program in all of Canada where up to 5 co-founders can apply together under one business/ investment.
Relatively low language score requirements at CLB 5.
No geographic restrictions in Canada under this program. You can settle, work in any part of Canada except Quebec until your PR is confirmed. You can even move to other parts of the country while your application is in process.
No mandatory requirement to be inside Canada for a specific period.
No net worth audit required for applicants.
Work permit option to enter Canada – but not mandatory.
Education is not mandatory as per the program requirements (although having zero work experience and zero education would lead to a potential refusal)
Considering all these advantages, here is the ideal profile of applicants for whom this program would be a great fit:
* Applicants and families who have a dependent child who is turning 22 in the next month, 6 months or a year. The SUV program is the fastest program to lock in your dependent child’s age with your PR application so they will not have to apply separately (as you all know as of the age of 22, your children are no longer considered dependents). Designated organizations we work with have special ‘emergency’ lines available just for these types of cases.
* Another profile would be applicants who do not want to enter Canada but want to wait for their PR before arrival. This is probably the only business immigration program out there in Canada offering this ‘golden visa’ equivalent opportunity for Canadian PR without entering Canada (the only other exception is the Quebec Immigrant Investor Program which is supposed to re-open this year but is slower, much more expensive, has specific proof of wealth accumulation requirements, and restricted to Quebec in case you want your family/children to study inside Canada while you are waiting for your PR from outside the country).
At INGWE we are EXPERTS in the Canada and UK Startup Visa. We will guide and support you throughout the endorsement letter or Letter of Support process and the entire immigration process including work visas and permanent residencies. Get a FREE email assessment with us, fill out our form, click here.
Many people ask us, what are the disadvantages of the Canadian Startup Visa program? Why would somebody hesitate to apply under this business immigration program and what kind of profiles would not be a good fit for the SUV.
Here is the list of disadvantages and potential risks with the Federal SUV program in Canada:
1: It’s a group activity. This can be a positive feature but it can also be a negative point if you have multiple essential members and one of them withdraws half-way through your application process (after the Letter of Support) or has some kind of criminality or medical issues which you were not aware of, or misrepresented information on their application form – which means it is a default refusal not just for that essential member of the group, but for the whole group as a whole. There is no exception to this, and if one essential member is refused, all members are refused no matter how wonderful or successful the Startup business is. This means that you would not have 100% control over your own fate and immigration plans – but dependent on the other members of your Startup group.
2: It has one of the lowest approval rates out there for any Canadian or even worldwide business immigration program. We´re still wondering why the SUV program is so popular for everyone. If you’re paying $10 for this program, at an approval rate of 50-60%, your actual cost for this program ends up being anywhere from $16.7 to $20.
3: In continuation of the same point above, there is too much discretionary power under the Canadian SUV program for IRCC officers to decide on whether to approve or refuse you, and there has been no successful Judicial Review of a refused PR case so far in all the history of the Canadian Startup Visa program. Unless you are in a very strong Startup group with serious traction and activities, your future in Canada is up to the IRCC officer’s decision – and if they didn’t have their coffee the morning when they’re deciding on your file, well then that’s just too bad. The issue with the program is that there is so much vagueness, grey areas, and such minimal eligibility criteria that a lot of low-quality applications are submitted in the hopes of receiving a PR approval for Canada. This has raised eyebrows with IRCC, and they have started scrutinizing applications in much more detail for anyone who applied in 2020 onwards.
4: It used to have one of the highest approval rates for the optional work permit under the Startup Visa program, but now it’s one of the lowest approval rates as of October 2022 onwards. If you do not have a very active Startup business or do not already hold valid visas to US or Canada, and are from a high volume or refusal region, then obtaining a work permit won’t be easy. Just because you applied for a Canadian PR and have a temporary application number doesn’t mean by default they will approve your work permit application as well.
5: It has long processing times. Officially it takes 2.5 years for a PR decision although we are now seeing timelines of closer to 1.5 years. It’s not the slowest like the Quebec Immigrant Investor program but it’s also not the fastest program out there for Canadian immigration. If you need to be inside Canada fast with your PR, this is not a good option for you.
If you’re interested in applying for the Canada Startup Visa, at INGWE we will guide and support you throughout the endorsement letter or Letter of Support process and the entire immigration procedure, including work visas and Canada PR. Get a FREE email assessment with one of our Business Immigration consultants. Fill out the form, click here.
If you’re thinking about immigrating whether permanently or temporarily - you’re at the right place! I can guarantee only 1 main point; you will know what to expect, the entire process is clearly laid out for you, and all the risks identified including costs. Our team speaks over +9 languages, and we help applicants from over 49 different countries during their immigration process. And this list is growing everyday! Get a FREE email assessment, click here.
