A Canadian Startup Visa, a Canadian SUV, is a permanent residency status given to those who open a qualified startup in Canada. The startup visa program aims to attract worldwide talent, create jobs for Canadians, as well as make Canada more competitive in the global market. Startups that receive formal support from approved investors can move on in their application process which can take up to 3 years.

The best way to get a letter of support for a Canadian Startup Visa is to get professional help in the application process. Experienced professional agencies can give you the written framework needed to make a proper proposal to increase your chances of receiving funding in a very competitive field.

Entrepreneurs from any nationality can apply for a Canadian SUV. The startup visa program was created to attract new businesses that would be innovative, employ Canadians, as well as be globally scalable. Business proposals must be backed with a letter of support from an approved investor, which states that they will invest at least the minimum funds needed for the startup. Applicants for the Canadian SUV must each hold at least 10% of voting power in the application and collectively hold at least 50% of voting rights in the organization. Each applicant is required to have a level 5 English or French language mastery, personal funds to support themselves, and proper work experience.

Many startups fail. That does not mean you will lose your Canadian Startup Visa if the startup goes under. There are already strict standards for getting approval from investors so as long as the business acted within the law and stipulations, residency in Canada will not be revoked.

There are many parts of the application for a startup visa in Canada that require diligent work. After creating a proposal for your startup in Canada, it needs to be approved by investors, receive a letter of support, and then be approved by the Canadian government. Hiring a consulting agency can fill any gaps you have in presenting your business to venture capitalists and investors, as well as in the application process.