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Is the Canadian Startup Visa (SUV) program a guaranteed path to Canadian PR? Realistically, nothing in life is 100% guaranteed, but this program has a higher approval rating than some other pathways and can be a great opportunity if you qualify. Overall, the program approval rate for SUV applicants is around 75%. Although immigration consultants or lawyers can’t guarantee your success, experience and knowledge can increase your chances of approval. On the flip side, there are some missteps that can decrease these odds as well. Knowing how to apply the right way and what mistakes to avoid can make the Canadian Startup Visa program a good bet for the right applicant.
At INGWE we are EXPERTS in the Canada 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, click here.
Let’s start with what you DON’T want to do. Why do 25% of the Startup business fail to gain approval? Here are 5 of the most common reasons:
1: Essential co-founders withdraw from the group.
Co-founders may decide not to immigrate to Canada or choose to immigrate to another country instead. Sometimes this may be due to unique, personal reasons but often it can be attributed to frustration with processing times and program uncertainties with the Canadian Startup Visa program.
2: Essential co-founders are refused due to misrepresentation or ineligibility.
In some cases, group members don’t reveal pertinent facts about their immigration history to other co-founders or even their legal representatives. When these hidden data points involve serious medical, criminal, or even settlement fund considerations, the applicants are refused admission when they come to light and this in turn affects the entire group’s application.
3: Essential co-founders apply for another Canadian PR program.
Sometimes members may try to hedge their bets and apply for more than one program, but when this happens, they are automatically withdrawn from the SUV application and consequently the rest of the group is refused automatically as well.
4: Essential members’ backgrounds and professional work experiences and education do not match the Startup Visa concept.
5: The Startup Visa group of co-founders have not done any activity or investment since the Letter of Support.
It is essential to demonstrate true intentions to operate and manage the business in Canada. When the IRCC officer can’t see evidence of this, they will be flagged as ‘artificial transactions in order to gain immigration status’.
You may notice that a lot of these factors are based on other group members in the SUV group, or co-founders. Although it may seem less overwhelming to apply with other members, these additional applicants can also cause additional problems. Solo founders will have way less problems and risks. If you do decide to apply with other business associates, make sure you’ve closely reviewed the pitfalls above before moving forward.
At INGWE we are EXPERTS in the Canada 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, click here.
Once you know what NOT to do, you can focus on how to prepare and navigate the process successfully. What increases approval rates for these applicants?
1: All co-founders meet the eligibility criteria such as settlement funds, language score, and admissibility criteria such as criminality and medical checks.
2: All co-founders have proof of their proactive and critical role in the Startup business
3: The Startup business has made business progress in multiple areas:
A: product/solution development,
B: business/market development
C: Participation in industry events such as exhibitions and conferences
D: Funds raised from external investment institutions, potential partners and or customers
E: Prepared documentation outlining their significant benefit to Canada, such as hiring local Canadian staff.
4: The Startup business has put into place key factors to move and manage their business inside Canada. This is a key indicator that many groups and consultants miss.
5: Regular reporting to IRCC and your designated organization on your progress and achieved business milestones. This is not just the Letter of Support or business plan. You must be reporting every 6 months to IRCC and every quarter if not more with your designated organization.
In conclusion there are two groups of Startup Visa applicants. The successful groups know what they are doing, follow instructions, have experience or somebody on their side to guide them throughout the entire 1.5 to 2 year-long process. The groups that fail lack the knowledge, fail to prepare or try to “wing it” and end up at risk of being ‘terminated’ by IRCC officers.
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 process, including work visas and Canada PR. Get a FREE email assessment, click here.
Nothing in life is 100% guaranteed, not even little things like your internet connection or what you’ll eat for breakfast tomorrow morning. Immigration programs can’t guarantee approval either. But there are steps you can take to increase your chances and be another successful Startup Visa success story.
If you’re thinking about immigrating whether permanently or temporarily - you’re at the right place! Our team speaks over +9 languages, and we help applicants from over 50 different countries during their immigration process. Get a free email assessment, click here.
If you’re ready to apply and would like a 1-on-1 session with one of our immigration team members at INGWE, you can also book a session directly using this consultation link.
