Canada’s new Start-Up Visa is the first of its kind in the world, linking entrepreneurs with experienced private sector organizations that have expertise in working with start-ups. This program is to attract foreign innovative entrepreneurs, who are willing to establish new, high-growth businesses in Canada and support innovation and job creation. Canada is open for business to the world’s start-up entrepreneurs.

Eligibility requirements of the program

To be eligible for the Start-up Visa Program, the applicant must:

• Have a qualifying business
• Get a letter of support from a designated organization (Venture capital funds, Angel investor groups & Business incubators)
• Meet the language requirements
• Bring enough money to settle
• Pass Canadian security and medical clearances
• Plan to settle in a province other than the Province of Quebec

A qualifying business means you created a business that meets the following conditions:

• At the time you get a commitment from a designated organization. Each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners) and;
• Applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time.
• At the time you receive your permanent residence:
  • You provide active and ongoing management of this business from within Canada
  • An essential part of the operations of the business happens in Canada
  • This business is incorporated in Canada

Letter of support

The applicant must get a letter of support from a designated organization. Designated organizations are business groups (venture capital funds, angel investor groups, and business incubator organizations) that are approved to invest in or support possible start-ups through the Start-up Visa Program. Successful applicants are required to secure a minimum investment for their Canadian start-up.

• If coming from a designated Canadian venture capital fund, the investment must be at least $200,000 CAD.
• If coming from an angel investor group, it should be at least $75,000 CAD.
• Applicants do not need to secure any investment from a business incubator. However, applicants must be accepted into a Canadian business incubator program.

Applicants are not required to invest any of their own money. If their Canadian start-up is unsuccessful, individuals granted permanent residence through this program will retain their permanent resident status.

Language

The applicant must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all four areas (speaking, reading, listening & writing).

Settlement funds

The Government of Canada does not give financial support to new start-up visa immigrants. An applicant is required to give proof that he/she has the sufficient money to support themselves and dependents after their arrival in Canada.