Startup visa success rate?

[ankitpanchal]

Hi Kai Nemo,

Thanks for your suggestions! But i got in dispute with the business incubator over the fees they are asking monthly. I have denied to pay the fees and they said they will pull out the LOS if they dont receive the fees in time.

They were asking 2100$ Per Month for 18 months or until you get your PR whichever is the earliest.

So, I think I'm gonna drop the SUV. and will go through LMIA or Study Permit.

Thanks

 

[Kai Nemo]

Hi Kai Nemo,

Thanks for your suggestions! But i got in dispute with the business incubator over the fees they are asking monthly. I have denied to pay the fees and they said they will pull out the LOS if they dont receive the fees in time.

They were asking 2100$ Per Month for 18 months or until you get your PR whichever is the earliest.

So, I think I'm gonna drop the SUV. and will go through LMIA or Study Permit.

Thanks

Hi Ankit,
Wow...I feel very sorry for you...since I know how difficult for you to get the LOS and then going to quit it because of an unknown fee occurred. My case is different...my LOS has been issued by Angel Investor so I was not asked for this kind of fee.
Anyhow, all the best to you my friend.
Kai

 

[viberuz]

Thank you for reply.

I have seen several chats on incorporation its a grey area as the language used by IRCC and open to interpret.

Incase of LOS its plain and simple all have to give the same i.e Incubators/ANGELS/VC. An LOS is not guarantee of PR + WP approval.

A/h in case of the Angels and VC they also have to commit investment thats where they want the following process:-

1. Incorporation
2. Term Sheet
3. ESCROW to be created- for funds transfer.
4. LOS is thereby issued only to the Canadian Incorporation post step 1, 2 and 3.
5. Filing of PR and WP.

Pls. check the Term sheet requirements are also mandatory along with Biz Plan, Financial Projections, IP, Go to Market Strategy etc. the more robust your file is the best chances of getting your PR+WP approvals.

Pls. note its great you have business in other countries but if you don't have any in Canada where you are filing for a PR which will lead to Citizenship then consider building your business Profile/Portfolio with a plan as that all the IRCC professional will read and decide about your business.

Queries can be raised to the Designated Organisation but the more prep the better, also pls. do not take it for granted about process of Incubator Vs IRCC its two different process so work on satisfying each.

Incase of Incubators which is i think 85+% of the startups mostly its a simpler process as there is no investment involved also the term sheet is just about the incubation and maybe in some cases (For Profit Incubators) the equity they will take .

A/h more and more IRCC Officers are looking at intent of the startups to really bring technology and create value rather than only get a PR. Pls. note Canada is the most easy as they give PR for life and its not linked to success of the startup nor time bound.

Consider this you get all your documents, LOS and file for PR and are approved, land in Canada set up the company get your PR card and never make the business operational? Change your number and do not contact your Incubator or Angel they have no control as you already got your PR right?

I am sharing a nice link i came across full disclosure no marketing affiliation with me- https://www.canadastartups.org

 

[cooolideal]

Hi Kai Nemo,

Thanks for your suggestions! But i got in dispute with the business incubator over the fees they are asking monthly. I have denied to pay the fees and they said they will pull out the LOS if they dont receive the fees in time.

They were asking 2100$ Per Month for 18 months or until you get your PR whichever is the earliest.

So, I think I'm gonna drop the SUV. and will go through LMIA or Study Permit.

Thanks

After so much efforts for SUV..now u have to negotiate with incubators...before the issuance of LOS there were not such type of agreement? if not then now y they are asking?

U completed ur business plan urself or by consultant?
How much investment they ask initially?
Can you share ur draft business plan for reference by deleting personal info?

I m new & now I also want to start this process..

 

[VKR123]

My SUV WP got approved within 3 weeks whereas my cofounder's SUV WP was approved in 7 weeks. He got his approval two weeks back and we have finally relocated to Canada. The process was smooth for getting SUV WP - but as someone suggested in the forum earlier, it is important to keep the documentation of business plan, summary, projections, progress so far, LOS etc.. Proving that we are a genuine startup would be the key consideration by IRCC I guess. As we had our records clear, probably it was easier for us to get the WP quickly. We just applied for PR. Wishing good luck to other SUV aspirants.

 

[viberuz]

My SUV WP got approved within 3 weeks whereas my cofounder's SUV WP was approved in 7 weeks. He got his approval two weeks back and we have finally relocated to Canada. The process was smooth for getting SUV WP - but as someone suggested in the forum earlier, it is important to keep the documentation of business plan, summary, projections, progress so far, LOS etc.. Proving that we are a genuine startup would be the key consideration by IRCC I guess. As we had our records clear, probably it was easier for us to get the WP quickly. We just applied for PR. Wishing good luck to other SUV aspirants.

hey VKR123 - many congratulations, best of luck.
I wish if we can connect to discuss your journey a little bit more. I and my cofounders are in final stages with Angel Investors for LOS. We just incorporated in BC, Vancouver and set up our cap table and even Articles of Incorporation done. Our Angel had this step mandatory for us. We have our own funds for the initial runway of 18 months + Angel mandatory support of 75kCAD comitted. We will file our WP and PR in Jan hoping for more learnings from each others journey. PM me if you wish to connect on this forum or even on email.

Regards

 

[VKR123]

hey VKR123 - many congratulations, best of luck.
I wish if we can connect to discuss your journey a little bit more. I and my cofounders are in final stages with Angel Investors for LOS. We just incorporated in BC, Vancouver and set up our cap table and even Articles of Incorporation done. Our Angel had this step mandatory for us. We have our own funds for the initial runway of 18 months + Angel mandatory support of 75kCAD comitted. We will file our WP and PR in Jan hoping for more learnings from each others journey. PM me if you wish to connect on this forum or even on email.

Regards

Thanks. Sure, will be glad to share my 2 cents, as I settle down here in couple of weeks. Let us stay in touch.

 

[viberuz]

Thanks. Sure, will be glad to share my 2 cents, as I settle down here in couple of weeks. Let us stay in touch.

awesome...i would like you to see a youtuber quite good they are in Ontario, Toronto and nearby areas they recently have made a video which has realtors for rental and even purchase of property the good thing is he does not share as paid promotion its more of their personal journey last 1 year. They are called Potato Talkies on Youtube, Navjot Bindra and Simran Bindra are a good couple who share a lot for new things for networking and settling down.

 

[VKR123]

awesome...i would like you to see a youtuber quite good they are in Ontario, Toronto and nearby areas they recently have made a video which has realtors for rental and even purchase of property the good thing is he does not share as paid promotion its more of their personal journey last 1 year. They are called Potato Talkies on Youtube, Navjot Bindra and Simran Bindra are a good couple who share a lot for new things for networking and settling down.

Thanks for the information, shall check it out, appreciate it - JUST checked, looks great but lot of Hindi used by them (which I am not aware of). But am sure they are providing some valuable information looks like.

 

[viberuz]

Thanks for the information, shall check it out, appreciate it - JUST checked, looks great but lot of Hindi used by them (which I am not aware of). But am sure they are providing some valuable information looks like.

sent you the link of their realtor! you can subscrbe/follow and query they are amazing reply quick on Insta & Youtube.

 

[ErlSpike]

Tank you for such useful thread guys!

 

[rshari_88n]

You have done a great job on this article. It’s very readable and highly intelligent. You have even managed to make it understandable and easy to read. You have some real writing talent. Thank you.

 

[tanyaviola]

As of June 2018 ,

total application application received by IRCC 448
APPROVED 48
REFUSED 50 = > this simply shows refusal rate is more than approval in 2018. it could be even worst in 2019 as many immigration firms are asking for money and dealing with incubators to issue a Letter of Support which is in contrast with the nature of initial startup program. So, just heads up

Where are you all finding total application numbers with numbers approved/refused??

 

[SSP13]

My SUV WP got approved within 3 weeks whereas my cofounder's SUV WP was approved in 7 weeks. He got his approval two weeks back and we have finally relocated to Canada. The process was smooth for getting SUV WP - but as someone suggested in the forum earlier, it is important to keep the documentation of business plan, summary, projections, progress so far, LOS etc.. Proving that we are a genuine startup would be the key consideration by IRCC I guess. As we had our records clear, probably it was easier for us to get the WP quickly. We just applied for PR. Wishing good luck to other SUV aspirants.

Hello,
Congratulations on your WP approvals.You seems to be amongst the minority who have had success and what seems like in a short span of time.How long did it actually take from initiating the SUV process to getting the WP.Would love to get some details; if you are comfortable that is.
If possible and time permitting, please send an email on s128133@rediffmail.com and will would get in touch.
Thanks and Regards,
Ssp

 

[Zaeem khan]

Hi
I wanted to check, once LOS has been received. Can IRCC reject my application ? what are the typical reasons ?