Hi Azhar, I am Ahmed and looking for a Designated Organisation for Letter of Support ... Can you share some contacts of lawyers who can connect me with with some Incubators ... Thanks.
Startup Visa Program Timeline
- Thread starter deenfae
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15 months since I applied, everything is passed ( eligibility, criminality, medical and security ) yet no decision by the respectful officer. I am already 3 months beyond the normal processing time which should be 12 months, but pending for a final decision. what an absolutely ridiculous process.
Hi Mauchan, I do have two questions about this start-up program, if you can kindly help me with it, thanks a lot.
Let say if I can convince one of the incubator accept me and my business into their incubator program, will they give letter of support of their accepted ones? Or how likely they will do you know? And also, if they will give their letter of support, when will it would be? During the program or after the program?
Thanks
It depends entirely on the incubator and their process. There will be several steps involved before a letter of support is issued by an accelerator. For example:
1) Due diligence of your business proposal or validation of your existing business and its potential in USA/Canada, intellectual property ownership, language skills, finances needed to support yourself for a year, reference check etc.
2) Completion of any agreement or contract which needs to be signed with the accelerator - like how long you're going to occupy their premises, and/or any other mutually agreed deliverable.
It is best that you take this up with the accelerator directly. You won't get specifics on this forums, just a general guideline.
Hello guys, would anyone please advise if everyone in the application must stay in Canada to run this startup before receiving the PR. Two of my partners have to travel a lot outside the country to oversee sales in Asian markets. I am not sure if this will harm our application as a whole.
The applicants DO NOT have to stay in Canada during the process. Any amount of travel is ok, just mention it in the travel history section of the application.
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Thank you Mauchan.
Do we have to incorporate here in Canada before sending in the application? By 'not have to stay in Canada', do you mean that they do not have to get paid by this new Canadian corporation until PR issued?
No, you do not need to incorporate or be on the company's payroll before applying for the SUV. But you must incorporate soon after becoming a permanent resident.
Please correct me if I misinterpret - so everything is actually happening after we become permanent residents (incorporation, payroll, in full operation etc), not before it
Correct - the SUV process allows for incorporation after the applicant becomes a PR. This is called 'conditional incorporation'.
Besides, one of the directors needs to be a PR to receive the tax benefits of a CCPC. (Canadian Controlled Private Corporation).
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effective April 2018:
the applicant must meet the following criteria or intend to meet them upon receiving permanent residence:- the applicant provides active and ongoing management of the business from within Canada
- an essential part of the business’s operations are conducted in Canada . Such operations include, but are not limited to:
- physical location
- facilities
- equipment
- inventory
- warehousing
- management information systems
- staff
- the business is incorporated in Canada
Note: If the first 2 criteria in this list are not met upon application, the officer must be satisfied that the applicant truly intends to fulfil these upon receiving permanent residence.
Furthermore, in some cases, the business may be considered a qualifying business even if it is not yet incorporated; however, the applicant must intend to incorporate the business in Canada after they have been issued the permanent resident visa.
my advice :
Startup means you want to address a problem in a timely manner with the minimum resources which could scale fast.
nowadays, startup visa takes about 12 months. time you need to spend to find a designated institution and pitch your business plan least take 6 month to get a letter of support. ( 18 months till now )
you may need another month or 2 months to come and land , settle in Canada , register the business!?? Holy cramp!
you just missed 20 months. is the business idea yet new and could bring its initial values? sure not. this is something CIC soon or late should understand it or maybe they already know it ? thats why they give 2 weeks processing work permit for essential applicant to come and do not loose time.
Lastly : if you really born as an Entrepreneur, you should not burn the time. find someone or ask the incubator to support you incorporate in Canada even before you submit your application and start working right away . as an Entrepreneur you do not need to be on payroll.
Startup = Right idea , right team in the right time.
- the applicant provides active and ongoing management of the business from within Canada
SUV work permit timelines are a roll of dice. I personally know three people whose SUV WP took nearly five months. Nowhere near the promised two weeks. It is better to apply for SUV directly.
If a Start-up business is up and running - or has potential customers - then the entrepreneur(s) can begin billing and collecting receivables from his/her home country if not already doing so. Incorporation, or the lack thereof, has no effect on that process.
Incorporation in Canada takes only a day and then setting up a business bank account is done in less than an hour. Within 30-45 days, all account receivables can be successfully redirected to the Canadian entity.
SUV WP for people applying form within Canada Usually takes more time than others. it also depends on nationality and VO. Submitting WP application along with PR application is the way everyone do. not necessary but it helps many Entrepreneurs.
Regarding the rest of your statement:
Yes that's totally make sentence and its how it should be indeed for those stay in their home country. However that statement has conflict with :