As part of the eligibility requirements, you will need to provide proof (Commitment Certificate and Letter of Support) that your business is in fact supported by a designated organization. These documents will cover the relevant details of your arrangement with one or multiple designated organizations and are paramount to your startup visa application. Unlike federal and provincial investor programs, where applicants must invest their own capital, no investment of their own funds will be required.
Instead, those who meet the eligibility requirements must secure a minimum of $75,000 from a Canadian angel investor, or a minimum of $200,000 from a Canadian venture capital fund recognized by the government of Canada. If the applicant is accepted into a recognized Canadian business incubator, no investment capital is required.
Put all documents in a 9” x 12” envelope, write ‘start-up visa’ on the outside of the envelope, and mail to the appropriate address.
The current processing time for the start-up visa is between 12 and 16 months.