What is an Innovator Visa UK?
What is UK Start-up Visa?
What is the Start-up Canada Visa Program?
UK Innovator Visa vs UK Start-up Visa vs Canada Start-up Visa
|Features||UK Innovator Visa||UK Start-up Visa||Canada Start-up Visa|
|Availability||Only for established investors and entrepreneurs||For amateur entrepreneurs and startup enthusiasts||Only foreign nationals with a Commitment Certificate and Letter of Support issued by a designated entity are considered for a short-term work permit.|
|Type of Visa||Residency Visa for 3 years||Residency Visa for 2 years||Permanent Residency in as little as 12 months|
|Residency & Citizenship||Permanent Residency after 5 years of continuous stay||Does not lead to Permanent Residency. If permanent residency is required, switch to Innovator Visa is required||It leads to permanent residency|
|Visa Extension||Can be extended multiple times in 3 years||Cannot be extended. After the expiry of the Start-up Visa, a switch to Innovator visa can be made.||–|
|Investment||Min. £50,000||No minimum investment||Three types of investment agencies can invest:
-Angel investors: Min. CAD 75,000
-Venture capital funds: Min. CAD 200,000
-Business incubators: No investment is needed
|Type of Business||Invest in both new and existing business||Set up and develop a new business only||You need to have a qualifying business where you hold 10% or more voting rights for your shares|
|Partnership||Can apply with other partners with each partner investing £50,000||Can apply with other partners with each partner getting endorsed for their idea||A total of 5 people can apply as partners of the business, each with 10% voting rights|
|Processing Timing||3 months||3 months||12 to 16 months|
|Endorsement||The approved endorsement body has to endorse the business idea||The business idea has to be scalable, innovative, and viable with endorsement from the approved endorsement body||Your business idea needs to be supported by a designated Canadian investment agency or incubator|
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