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Startup visa success rate?

T

TucoR

Star Member
Feb 25, 2020
70
31
Hello! Maybe someone could advise or have experience. Sorry for double message

Here the case:
I was accepted to an incubator in Toronto (the oldest one).
Now I am preparing documents for PR.
The lawyer said I need to incorporate in Canada, but I have no one I can appoint as a director. I live outside Canada. I have a Canadian relative, but they work abroad, not suitable.
The lawyer suggests to incorporate in BC and get approval in ON.
Do I need a company before my case is processed (by peer reviews or so)? Can I incorporate only when the peer review officers approve the case?
Thank you.
 
T

TucoR

Star Member
Feb 25, 2020
70
31
T

TucoR

Star Member
Feb 25, 2020
70
31
Also, the lawyer suggests to create a business plan, balance sheet + cash flow. Do I need that? The business is an online company, already validated idea, that works, a lot of customers.
 
Last edited:
M

Mauchan

Star Member
Dec 2, 2017
77
33
TucoR said:
Do you I need to satisfy this rule?
  • this business is incorporated in Canada
Click to expand...
Yes. As per Ministerial instructions MI 7 (1) and the IP 13 /OP 27 Start up visa manual, incorporation can happen once you receive your permanent residence and arrive in Canada.

http://gazette.gc.ca/rp-pr/p1/2013/2013-03-30/html/notice-avis-eng.html

See section 7 in the link above:

"(2) A business that is not incorporated at the time the commitment is made is still considered to be a qualifying business if its incorporation is conditional on the issuance of a permanent resident visa to one or more of the applicants in respect of that business. "

The section 6.12 of the manual (not on IRCC website) also says:

"MI 7(1) states that in order to qualify for the Start-up Business Class, a business should be incorporated and carrying on business in Canada at the time that the commitment is made. However, in many cases the designated entity may not want to go through the process of incorporating the company if the persons identified in the business proposal are not authorized to come to Canada. Therefore, MI 7(2) allows for consideration of a qualifying business whose incorporation is conditional upon the attainment of permanent residence by the applicant(s)."
 
T

TucoR

Star Member
Feb 25, 2020
70
31
Thank you. You deleted message. I've googled.

https://www.canada.ca/en/immigration-refugees-citizenship/services/application/application-forms-guides/guide-5759-application-permanent-residence-business-immigration-program-start-business-class.html

Is it still valid?
"In order to qualify for the Start-up Business Class, a business should be incorporated and carrying on business in Canada at the time the commitment is made. However, consideration will be made for a qualifying business whose incorporation is conditional upon the attainment of permanent residence by the applicant(s)."
 
T

TucoR

Star Member
Feb 25, 2020
70
31
Yes. Thank You.
I've already submitted a business plan, income to the incubator, they liked the idea, and would like to try it out in the North American market.

The lawyer said I lack the "Canadian ties". Do I need that?

Currently, the startup works in 6 countries, adding Canada will not be a problem.
As the gov website says, the startup should compete globally. Probably, for general business immigration it should be tied to Canada.

The lawyer wants me to pay for business incorporation, business plan, marketing plan.
She said it will increase the chances of success.

The incubator already submitted good commitment certificate, where they described the startup, it's potential for N.American market.
 
M

Mauchan

Star Member
Dec 2, 2017
77
33
TucoR said:
The lawyer said I lack the "Canadian ties". Do I need that?
Click to expand...
No, your lawyer is just making stuff up. You are not applying for a visitor visa. As long as you have the commitment certificate and fulfill the document checklist, that's all you need.


TucoR said:
The lawyer wants me to pay for business incorporation, business plan, marketing plan.
Click to expand...
He/she is just looking to make some extra money. If you are running a revenue-positive business, you should have no problem making a business/marketing plan and cash flow statement in a couple of days.
 
T

TucoR

Star Member
Feb 25, 2020
70
31
I already have a letter of support from the incubator.

Here what the lawyer replied, is it valid?
 
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T

TucoR

Star Member
Feb 25, 2020
70
31
Incubator already checked my business plan, I used their template. Incubator even logged to my PayPal accounts, checked income.
 
M

Mauchan

Star Member
Dec 2, 2017
77
33
TucoR said:
Start up visa has over 45% rate of application rejection even after incubator Letter of Support.

I will not force you to have a financial model, business plan or incorporation. [/SPOILER]
Click to expand...
Would love to see where that 45% rejection rate data came from.

Agree on financial model and business plan - those you should have. I am surprised you already don't have one if you are running a business in 6 countries.

Incorporation is NOT a pre-requisite. It is your call.

I did not incorporate before moving to Canada; I completed that on the next business day after landing.
 
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