Start-Up Visa Program

This program grants Canadian permanent residency to eligible immigrant entrepreneurs. The program aims to recruit innovative entrepreneurs to Canada and connect them with Canadian private sector companies (investor groups, venture capital funds, or business incubators) and facilitate the establishment of their start-up businesses in Canada.

Successful candidates will receive a letter of support from a government-appointed entity (angel investor group, venture capital fund, or business incubator). The government-appointed entity is mainly responsible for determining the feasibility of the applicant’s business and submitting an approved project along with a certificate of commitment to the immigration authorities. Applications are evaluated on the basis of success.

1. Be a qualified business owner.
2. Obtaining a commitment from a specific party in the form of a certificate of commitment and a letter of support.
3. Having sufficient funds for settlement that are unencumbered, available and transferable (the amounts are updated every year).
4. Demonstrating sufficient proficiency in English or French through standardized tests (Level 5 of the Canadian Language Criteria).

The commitment required by a particular entity must meet the following criteria:

• The designated investor group must confirm that it has invested at least CAD 75,000 in eligible businesses, or two or more commitments from designated investor groups with a total value of CAD $ 75,000, or
• The designated venture capital fund must confirm that it invested at least CAD 200,000 in eligible businesses or two or more designated venture capital funds with a total value of CAD 200,000, or
• The designated business incubator must confirm that it accepts the applicant in its business incubation program.

In order to qualify, the intended business and the conduct of business in Canada must be incorporated at the time of commitment and:

• That the applicant owns at least 10% of the voting rights in the company
• That no other person owns 50% or more of the total voting rights in the company.

Up to 5 applicants are allowed to support their applications for permanent residency with the same commercial investment. However, some applicants may be designated as essential for the intended work. If any of the primary applicants withdraws their application or is rejected for other reasons, the applications of all other applicants within the same commercial investment will be terminated.

Applicants who have obtained a Certificate of Commitment from a specific entity, and who wish to start working in the business while processing their permanent residence application, can apply for a short-term work permit on the basis of their Certificate of Commitment if the designated entity supports this application.

To obtain a work permit, the applicant must submit:

• Letter of support from the designated entity.
• Proof that they have sufficient funds to meet the Low Income Cut off (LICO) for their family members for a period of one year.

To obtain permanent residency, the following criteria must be met:

• Applicants must be actively involved in conducting business within Canada.
• The company’s operations, or an essential part of it, must take place in Canada, and The company must be established in Canada.

The Canada Start-up Visa Program does not apply to applicants intending to reside in the Province of Quebec.

1) What is the Canadian start-up business visa program?

The Canada Start-up Visa Program offers permanent residency in Canada to eligible immigrant entrepreneurs. It is officially known as Canada Start-Up Class. It is, however, often referred to as the Start-Up Visa Program (SUV).

The program targets innovative entrepreneurs and connects them with private sector investors in Canada who will help establish their start-up businesses.

Candidates may come to Canada initially on the basis of a work permit supported by a designated investor in Canada before qualifying for permanent residency once their business is established.

There are 3 types of private sector investors:

• Angel investor.
• Venture Capital Fund.
• Business incubator.

Initially it was a pilot program for 3 years, and then it was made permanent on March 31, 2018.

2) What are the eligibility requirements for a candidate?

The basic requirements for a candidate’s eligibility for an emerging business visa are:

• A qualified business.
• Certificate of commitment and letter of support from a designated agency.
• Unencumbered settlement funds that are sufficient, available and transferable.
• Fluency in English or French with at least the level 5 in the Canadian language test.

3) What is the designated entity for the start-up visa program?

The designated entity is a Canadian angel investor, venture capital fund, or business incubator.

The required commitment must fulfill the following criteria:

• A private sector investment group must invest at least $ 75,000 in eligible businesses. Candidates may also qualify with one or more investments from angel investor groups with a total value of $ 75,000.
• The designated venture capital fund must confirm that it invests a minimum of $ 200,000 in eligible businesses. Candidates may also qualify with two or more commitments from dedicated venture capital funds that total $ 200,000.
• The designated business incubator must accept the applicant in its business incubator program.

4) What are the business ownership requirements for the emerging business visa program?

For the candidate to qualify for permanent residency:

• The intended business and the conduct of business must be combined in Canada.
• The candidate must own at least 10% of the voting rights in the company.
• No other person can own 50% or more of the voting rights in the company.

Note: Up to 5 applicants are allowed to support their applications for permanent residency with the same business investment. However, some applicants may be designated as essential for the intended work. If any of the primary applicants withdraws their application or is rejected for other reasons, the applications of all other applicants within the same business investment will be terminated.

5) How do candidates qualify for a work / permanent residence permit?

To qualify for a work permit:

Candidates with a Certificate of Commitment from a designated entity can apply for a short-term work permit to start a business. The designated entity must support the request.

To qualify for permanent residency:

• Candidates must be actively involved in running a business in Canada.
• The company’s operations, or an essential part of it, must take place in Canada.
• The company must be established in Canada.

6) How does the immigrant entrepreneur get support from a designated entity?

An entrepreneur immigrating to Canada must own (or develop) a viable business that meets the due diligence requirements of designated entities approved by the government. Business consultants in Canada usually initiate an ecosystem alongside attorneys with experience in corporate immigration to ensure that budding business plans meet all of the terms and conditions required in the industry.

7) How long does it take for an immigrant entrepreneur to go through this process?

If the entrepreneur has a viable business, it takes about 4-6 months to secure a Certificate of Commitment or Letter of Support from a designated entity. Once the letter of support is received, the permanent residency application can be submitted immediately. It will take about 18 months to finalize your visa application.

8) How can CanadaV.com help immigrant entrepreneurs wanting to join the Start-up Visa Class (SUV)?

With our facilities in Toronto, our company works extensively with designated entities recognized for the industry in the Canadian start-up ecosystem. We provide a range of practical business advisory services to help aspiring immigrant entrepreneurs and their businesses meet all industry requirements.