Startup Visa Canada for Entrepreneurs

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The Startup Visa Canada Program provides a chance for entrepreneurs with innovative business ideas that are competitive on a global scale and can create employment for Canadians to immigrate to Canada under the Startup Visa Program.

As a business-based program, it allows either one or a group of up to five entrepreneurs working on the same project to immigrate to Canada as Permanent Residents.

Startup Visa Canada

What Are The Requirements For Startup Visa Canada?

To be eligible for the Startup Visa Canada Program, one must meet the following minimum requirements:

  • Provide a letter confirming that your business has backing from a Canadian Investor/ designated organization
  • Secure the minimum required investment from the designated organization/investor
    • Venture capital fund – minimum $CAN 200,000
    • Angel investor – minimum $CAN 75,000
    • Business incubator – no minimum investment requirement
  • Have a minimum level of CLB (Canadian Language Benchmark) 5 in language skills, i.e., speaking, listening, writing, and reading (either French or English).
  • Prove that you are capable of financially supporting yourself and your dependants once you’re in Canada
  • Have a qualifying business
  • Meet the admissibility requirements

If you plan to live in Quebec province, check Quebec’s Immigration Requirements as they assess their business immigration programs.

Start-Up Visa Program In Canada

How To Apply For The Startup Visa in Canada

  1. Check Your Eligibility For The Startup Visa Canada

The Startup Visa Program has a business, investment, financial, and other requirements that all applicants must meet. Make sure you meet all of the requirements before you begin your application. This will save both time and money.

  1. Get the Application Package

If you’re eligible for a startup Visa, get the application package and fill out the necessary information. The package comes with an instruction manual and a document checklist to help you complete the forms as required. Once you fill out the required forms, print them out, sign them as stated and attach all the documents as per the document checklist.

  1. Pay Your Application Fee

There are payments that you’re required to make, including the right of permanent residence fee, biometrics fee, and processing fee. Pay the fees through the provided online payment methods. Make sure it’s the exact amount required by IRCC and attach a copy of the receipt as proof of payment.

  1. Submit Your Application For Startup Visa Canada

Review your application to ensure that you’ve filled all the necessary parts and provided signatures where stated. Make sure all the supporting documents are attached to your application. If everything is in order, send your complete application package to IRCC through the address provided on the instruction guide.

  1. Provide Additional Information

During processing, IRCC will request you to provide your biometrics. They might also ask for medical exams and police certificates as per your case.

Startup Visa Canada Processing Time

Applications for startup visas are processed within 12-16 months. As you wait for your application to be processed, you can acquire a temporary work permit and work in Canada.

Startup Visa Checklist

  • Make sure you secure an investment from a designated investor and that you meet all the other requirements
  • Complete your forms as required and submit them through the correct channels
  • Ensure that you attach all supporting documents, including proof of investment from approved investors/organizations
  • Make all payments early to avoid delays or rejection

Startup Visa Canada Cost

Here are the main fees that you’re required to pay when applying for permanent residence under startup visa:

Fees$CAN
Processing fees1050
Right of permanent residence fee490
Biometrics fee 85

There may be extra fees if you’re bringing your family along. Contact Canadian Immigration Experts to learn more.

Start-Up Visa Program

How We Can Help

At Jane Katkova & Associates, we are dedicated to providing you with a successful outcome when you’re looking to migrate into Canada as an entrepreneur. With our years of experience, we have acquired what it takes to navigate the intricate IRCC system.

Let us help you bring your business into Canada by assisting you in your whole application process. Our partnership with experts in the business industry and financial sectors enables us to provide entrepreneurs with the best strategies to successfully gain startup Visas.

Contact our immigration consultants to learn more about Startup Visa Canada and how we can help you through your application process.

FAQs about Start-up Visa program in Canada

It depends on the source of investment. If the investment comes from a designated Canadian venture capital fund a minimum investment of $200,000 must be secured. If the investment comes from a designated Canadian angel investor group, a minimum investment of $75,000 must be secured. However, there is no need to secure a financial investment from a business incubator.

Canada’s start-up visa program (SUV) gives entrepreneurs the opportunity to immigrate to Canada with the skills and potential to build businesses in Canada that are innovative, create jobs for Canadians and permanent residents, and can compete on a global scale

It is one of the top three most popular immigration programs available to immigrant entrepreneurs, in which up to five people can apply as the owners of a single start-up business. In the first quarter of 2022, 160 newcomers were welcomed through the Start-Up Visa. It is expected that until the end of the year, Canada will welcome 640 new permanent residents. In three years, 2021 to 2023, Canada aims to welcome around 500 new permanent residents annually under the Start-up Visa Program. This estimation is based on IRCC 2021-2023 Immigration Levels Plan.

Start-up Visa program is a direct path to obtain Canada Permanent Residency for up to five applicants for one innovative business venture. The processing time is 12 – 16 months which leads to Permanent Residence Status for the entrepreneurs and their accompanying spouses and children.

Eligibility requirements for the Start-up Visa Program are having a qualifying business, a letter of support from a designated organization, meeting the language requirements, and having enough money to settle and live in Canada before the applicant makes money from your business.

Canada is one of the world’s best locations to start a business. That is why Start-Up Visa program is one of the popular programs for entrepreneurs and business persons.

A Start-up Visa application is processed approximately within 12 to 16 months.

Startup visa is regarded as one of the quickest ways to obtain a Permanent Residence status in Canada. However, those who come to Canada through a Temporary Travel Visa (TRV) which is considerably fast in comparison to Startup Visa, have to apply for Permanent Residence status later on if qualified.

To qualify for the Start-up Visa Program, the applicant must have a qualifying business, have a letter of support from a designated organization, meet the language requirements, and have enough money to settle and live in Canada.

If you are an entrepreneur with the skills and potential to build a business in Canada which is innovative, creates jobs for Canadians, and can compete on a global scale, then this program is a right option for you. In order to be qualified for the Start-up Visa Program, the person must meet four following eligibility requirements, and not be inadmissible to Canada. The person must:

  1. Have a qualifying business
  2. Have a letter of support from a designated organization (a business group that has been approved to invest in or support possible start-ups)
  3. Meet the language requirements, and
  4. Have enough money to settle and live in Canada before you make money from your business.

Canadian Language Benchmark 5 is a must in listening, reading, writing and speaking.

The amount of money depends on how many family members will be coming with the person. In some cases, the designated organization may allocate additional money to help cover the person’s living expenses. The investment money for the start-up business cannot be used to cover the person’s living expenses. When you apply, you’ll need to give proof that you have the money to support yourself and your dependants after you arrive in Canada.

Number of

family members

Funds required (in Canadian dollars)

1

$13,310

2

$16,570

3

$20,371

4

$24,733

5

$28,052

6

$31,638

7

$35,224

For each additional family member

$3,586