skip to Main Content
Reading Time: 5 minutes

An Overview of the Start-Up Visa Beyond Receiving the Letter of Support

Upasana Sharma | Start-Up Visa

It was a pleasure to have the CEO and founder of Investor Quotient Canada Inc., Upasana Sharma, as our guest on Joorney’s latest webinar: The Letter of Support is a Starting Point – What comes next?

In this webinar, Upasana overviewed the qualifications for the Start-Up Visa, and did a deep dive into what happens between the letter of support and permanent residency. Our host, Joorney Canada’s Executive Director and Head of Market Research, Marianella Manzur, also covered the necessity of a business plan and pitch deck, and how immigration consultants, lawyers, and their clients can work with Joorney.

Below you can find the advice and guidance provided by Upasana as well as several responses from the Q&A session at the end. You can read sections from the transcript of the webinar below, fast forward to a specific point in the recording based on the indicated timestamp to hear the full response where Upasana gets into more detail and gives examples, or watch the recording in its entirety.

While Joorney only focuses on crafting the business plan for this program and is not a registered immigration professional, it is a pleasure to bring experts, like Upasana, in to share their knowledge so we can all strive to make the business immigration landscape in Canada better, together!

Watch the Full Video

Q: Who qualifies under start-up business class? (00:12:00)

A: To qualify for a start-up visa, you would need 

–   commitment from the designated entity

–   language requirements which could be English or French

–   a settlement fund

–   to be able to establish themselves economically with their qualifying business

The letter of support is the proof of that commitment, which is given to the applicant so that they are qualified to apply for their permanent residency application.

Q: What usually happens between the letter of support and the PR? Does the applicant get a work permit? ( 00:33:00)

A: The work permit is optional. After the applicant submits the PR application, they will get their work permit within a month or two and can enter Canada and continue to have the onus of launching a business in Canada. When the visa officer is reviewing your application, they will wonder – Is this an eligible business? Are you actively managing this business in Canada? People ask me – What steps do I need to take? It’s not rocket science – just go pick up a business plan. That’s why you need someone right to prepare that business plan with you.

Q: At what point do you need a business plan and a pitch deck? (00:36:00)

A: The first step is you need to understand what you want to do in Canada. After we know the readiness, we have scoped out what the competition is going to look like and you know what you are doing. That is when you need a business plan. So first we focus on concept validation, the readiness of Canada, pitch deck, and business plan, then we start preparing these founders about pitch coaching, how to present yourself and your company.

Q: How do you tackle people who do not have an idea? (00:41:00)

A: People usually think they don’t have an idea, but they have a thought. They might not know what they should be doing, they might not know how to implement it, but they have thought about why they want to move to Canada. Giving them an idea, you’re undermining the legislation itself.

Q: How does IQ Canada partner with immigration consultants and lawyers to support them? (00:50:00)

A: Whatever under the sun you need in terms of professional services, business services, legal services, other than immigration services, we bring that to the table. We tell immigration lawyers and consultants to focus on what they know the best – immigration. We will coordinate with them, wherever we need their immigration expertise. Whatever else they need to get the letter of support, launch their business in Canada, steps that would be involved looking at the competitive landscape, securing their innovation, intellectual property – we bring in all those services aside so that it becomes a strong file.

Q: What type of business defines innovation? (00:54:00)

A: Innovation does not mean uniqueness. Innovation could be anywhere – from food to SaaS-based technology platforms and manufacturing. It depends on the industry sector you are in and what you are doing. It’s an art. It’s subjective terminology, but it is not rocket science. Innovation does not mean that what you’re doing, nobody has else done it. It is a way of defining it.

Q: What happens if an applicant comes in with a visa permit status, initiates the steps to launch the business, or even gets it running, and then the PR gets rejected? (1:00:00)

A: If there is a rejection, you will respond to it. If your client has done the work and they still get rejected, then the idea would be to appeal the decision or ask for reconsideration of the decision, give the evidence on the grounds on which it was rejected. Do strong advocacy with legitimate strong evidence, proving your point.

We would like to once again thank Upasana for joining us and sharing her knowledge. Upasana has applied her expertise in law, angel investing, and business consulting to successfully launched several global start-ups companies in the Canadian market, including IQ Canada. IQ Canada provides a suite of professional services to foreign innovators and investors looking to invest in or launch a business in Canada. More specifically, they are able to help those interested in the Start-up Visa navigate all steps of the process and connect them with the right professionals.

Joorney Canada has a first-class expert team of consultants and business plan writers that will gladly help you — or your clients — create all of the business — critical documents that are needed along the way. We are not immigration consultants, lawyers, or advisors.

Contact us today to learn more.

Contact Us Today

Disclaimer: Joorney Business Plans Canada is not an immigration consultant, lawyer, or advisor and cannot be held responsible for damages incurred from the use of this information. If you require more information about a program, please contact a registered immigration professional.

Latest News: More News
Back To Top