1. Investors are easily confused when estimating the cost of a Startup visa project

Startup Visa Canada is one of the most popular immigration investment programs today. The program is for investors, entrepreneurs with start-up ideas and long-term plans to live in the "maple leaf city". 

Startup Visa is evaluated as a potential program, whereby applicants are investors or entrepreneurs with English qualifications from IELTS 5.0, suitable business ideas to receive a letter of support from an organization approved by IRCC. point. 

Even so, many people are still nervous when choosing this program. Because not everyone has a potential Startup idea. In addition, candidates must hold 10% of the shares in the business and have stable financial resources to cover their life in Canada until they can profit from the Startup Business.

In parallel with the start-up Canadian settlement plan, investors will also need other costs such as lawyer fees, translation, etc. If they have not learned well or have a settlement consulting unit to support, investors are very interested. It's easy to get confused when budgeting for this program.

2. Startup Visa Canada costs for investment funds

Unlike what investors often think about Startup, the Startup Visa Canada project cost is actually not large. With this program, investors must own at least 10% of the shares in the business in Canada. However, investment costs for Startup ideas will come from Investment Funds. 

Specifically, candidates will give their ideas and submit them to Investment Funds designated by the Government of Canada. There are 3 different types of start-up investment funds, which are:

• Angel Investor - Angel Investor. The project must receive a support amount of at least CAD 75,000 from this investment fund.

• Venture Capital Fund - Venture Capital Fund. Participants must call for the amount of support from this fund at least 200,000 CAD.

• Business Incubator – Business Incubator. With this support organization, startups do not need to invest capital in their projects. However must be accepted into the Business Incubator program.

In addition, the Startup Visa Canada project cost also includes administrative fees payable to the above-designated supporting organizations. This fee ranges from 10,000 to 50,000 CAD.

3. Cost of Startup ideas

For startup ideas, candidates also need the cost of raising capital (Pitch Deck). This cost will include the preparation steps so that the idea is presented as perfectly and persuasively as possible. If the investor already has a company and meets the requirements, the Pitch Deck fee falls in the range of 3,000 - 5,000 CAD.

In case the company does not qualify, the cost will be higher. Because applicants must invest in market research, idea development, etc. to achieve the conditions set by the Investment Fund. This fee can be as high as 100,000 CAD.

4. Financial proof for family members

The Startup Visa Canada program does not require applicants to prove their assets. Therefore, there is no need to declare or prove the source of money. However, the investor must ensure that he and his family can afford to live in Canada, at least until he makes a profit from his startup idea.

Accordingly, the cost of Startup Visa Canada for families will include the required amount based on the number of members. This cost is calculated as follows:

Applicants can sponsor relatives to accompany them if they meet the requirements of dependents. Which includes:

• Spouse or person living with you (partner) regardless of the opposite sex or the same sex, as long as it can be shown that the two have lived together as husband and wife continuously for at least 1 year.

• The applicant's dependent children are under the age of 22 and are not married or are not cohabiting with another person.

• Dependent children of a spouse or common-law partner.

• Dependent child of the dependent child of the applicant.

Dependents will not be able to immigrate to Canada before the applicant, but must accompany, or after the applicant arrives in Canada, they can sponsor them.

5. Startup Visa Canada costs for lawyers and procedures

The cost of hiring a lawyer or immigration service is also a large amount that investors need to estimate in the Startup Visa cost. Because hiring a lawyer is an important step to protect your rights. At the same time, investors also need the support of lawyers on paperwork and legal issues. This fee can be negotiated by both parties.

In addition, the applicant will also pay a part of the application fee to the authorities as follows:

• Investor (main applicant): 1,540 CAD

• Spouse: 1,040 CAD

• Dependent children: 150 CAD

Hopefully, the above information will help investors to estimate an overview of Startup Visa expenses for the upcoming Canadian settlement plan. Currently, SUV is the most ideal and optimal Canadian immigration program. Let iCanfield help you Startup succeed and get Canadian Permanent Residence card. Contact iCanfield for the most detailed advice.