Start-Up Visa Program

The Canadian Start Up Visa Program - Pathway to Canadian Permanent Residency!

Canada’s Start-Up Visa program is a pathway to Canadian permanent residency for qualified immigrant entrepreneurs.

This program connects innovative entrepreneurs with investors in Canada’s private sector to establish start-up businesses.

Entrepreneurs can move to Canada on an initial work permit sponsored by their Canada-based investor and then qualify for permanent residency after setting up their business.

Immigrant entrepreneurs can connect with three types of designated Canada-based private sector investors:

1. Angel investor;
2. Venture capital fund; and
3. Business incubator.

Candidate Eligibility Requirements

Entrepreneurs need to meet four eligibility requirements for Canada’s Start-Up Visa program:

1. Have a qualifying business;
2. Have a letter of support from one or more designated organizations;
3. Meet the English or French language requirements (Canadian Language Benchmark level 5); and
4. Have sufficient funds to settle and live in Canada before earning money from the business.

Designated organizations and minimum investment requirements

A designated organization is a Canadian private sector angel investor, venture capital fund or business incubator. These organizations can help immigrant entrepreneurs with investments to establish their start-up businesses after moving to Canada.

The minimum investments required to apply through the Start-Up Visa program vary between the different types of designated organizations.

• If the investment comes from an angel investor, entrepreneurs must secure a minimum investment of $75,000 for their qualifying business. Candidates can also qualify for two or more angel investor groups for a total investment of $75,000.
• If the investment comes from a venture capital fund, entrepreneurs must secure a minimum investment of $200,000 for their qualifying business. Candidates can also qualify for two or more venture capital funds for a total investment of $200,000.
• Business incubator programs need to accept immigrant entrepreneurs into a Canadian business incubator program instead of providing financial investments.

An important point to note is that the investment money cannot be used to cover living expenses in Canada. Applicants should bring enough money to support themselves and their dependent relatives once they arrive in the country.

The amount depends on the number of family members who travel to Canada with the applicant. Usually, the funds required for one family member are just over $13,000. For four family members, less than $25,000 is needed.

Qualifying business ownership requirements

To qualify for permanent residence in Canada through the Start-Up Visa program:

1. Applicants must incorporate and carry out the qualifying business in Canada;
2. Applicants must own at least 10 per cent of voting rights in the business;
3. No other person should hold 50 per cent or more voting rights in the business.

Obtaining support from a designated organization

Each designated organization has its own criteria for assessing business proposals, and entrepreneurs need to pitch their business ideas to convince them to support the proposal. Once an organization chooses a business concept to review, it will assess the potential and likelihood of the proposal to succeed. If a designated organization chooses to support the business idea, it will provide a letter of support to the entrepreneur.

Application process for the Start-Up Visa program

If a business proposal is selected, the designated organization issues a letter of support to the entrepreneur and sends a commitment certificate to the Canadian government. The letter of support is proof that the organization will support the business idea, and the commitment certificate confirms to the Canadian government that the organization has agreed to support the entrepreneur for the Start-Up Visa program.

Afterwards, if the entrepreneur meets all the eligibility criteria, they can submit a completed immigration application, including the letter of support.

It usually takes around 4-6 months to secure a commitment certificate and letter of support from a designated organization. The completed permanent residency application can then be submitted, which takes approximately 18 months to reach visa issuance.

You can contact us for more information on permanent residency in Canada. You can visit our offices, call us or send us an email, and we will help you with all your queries on Canadian immigration with the Start-Up Visa program!