Canada is rapidly establishing itself as a premier destination for innovative business ventures through its Start-up Visa Program, providing qualified immigrant entrepreneurs opportunities to launch businesses and establish Canadian residence. The federal government prioritizes applicants demonstrating innovative business ideas and entrepreneurial ventures, with successful candidates gaining strong permanent residence prospects.
Following its inception as a three-year pilot program, the initiative gained permanent program status on March 31, 2018. The program continues drawing entrepreneurs possessing innovative business visions, offering pathways to Canadian company establishment alongside permanent resident status acquisition. Entrepreneurs securing designated organization support as outlined by Immigration, Refugees and Citizenship Canada (IRCC) become eligible for Canadian permanent residence consideration.
The Start-up Visa Program’s primary objective centers on linking qualified immigrant entrepreneurs with Canadian private sector organizations—Angel investor groups, Venture capital funds, or Business incubators—facilitating business setup within Canada. Upon designated organization approval for start-up investment or support, entrepreneurs obtain letters of support from participating organizations. These organizations concurrently dispatch commitment certificates to immigration authorities, rendering designated organization agreements crucial for start-up application evaluations.
Quebec-bound applicants remain ineligible for this program, as Quebec administers its separate business immigration framework.
Program eligibility mandates satisfaction of four primary requirements:
Entrepreneurial applicants must create ‘qualifying’ businesses incorporated for Canadian operations, each applicant maintaining minimum 10% voting rights. Collective applicant and designated organization holdings must surpass 50% of total corporate voting rights, evidencing meaningful controlling interests. Significantly, maximum five individuals may apply as co-owners under identical corporate structures, receiving support from same designated organizations for immigration applications.
Before program applications, entrepreneur applicants must obtain designated organization support and investment commitments, documented through Commitment Certificates and Letters of Support. Three designated entity types exist: Angel investor groups, Venture capital funds, and Business incubators. Applicants must contact designated organizations and persuasively present viable business propositions.
Based on individual organizational prerequisites and intake procedures, applicants might present business pitches or submit detailed business plans. Organizations evaluate proposed business viability and success probability. After favorable evaluations, applicants formalize agreements with designated organizations providing Letters of Support validating business concept endorsement. Our qualified legal professionals offer guidance throughout this pivotal phase.
Designated organizations concurrently transmit Commitment Certificates to immigration offices bolstering applicants’ immigration proceedings. Minimum investment thresholds differ across designated organization categories. Angel investor group commitments necessitate minimum $75,000 CAD qualifying business investments. Venture capital fund investments require minimum $200,000 CAD commitments. Business incubator support demands no minimum financial investment, although entrepreneurs must secure Business incubator program acceptance.
Applicants must attain minimum Canadian Language Benchmark (CLB) 5 proficiency in English or French across all competency domains: speaking, reading, listening, and writing. Similar language standards apply to other immigration pathways like Express Entry programs.
Applicants must establish adequate financial resources supporting themselves and accompanying dependants during Canadian settlement. Required amounts correlate with family member counts accompanying applicants, subject to annual revisions. Current specifications mandate CAD $14,690 for individual applicants, incrementally increasing for additional family members.
Entrepreneur applicants fulfilling all criteria submit permanent residence applications. Standard processing extends 12 to 16 months, without expedited processing availability. Nevertheless, throughout permanent residence processing periods, applicants may pursue short-term work permits facilitating Canadian entry for business development commencement, contingent upon meeting eligibility standards. This differs from traditional pathways like post-graduation work permits as it targets business founders specifically.
Short-term work permit qualifications include Canadian residence plans and employer compliance fee payments. Applicants require Letters of Support and Commitment Certificates from designated organizations verifying essential business roles and compelling business reasons warranting early Canadian arrival. Adequate funds satisfying low-income cut-off (LICO) requirements for 52 weeks demand demonstration.
Program completion involves permanent residence application approvals. Applicants must sustain active participation in corporation management under Canadian Business Corporation Acts. Core business operations must transpire within Canada. For entrepreneurs pursuing business establishment avenues, this program constitutes outstanding permanent residence pathways for applicants alongside their families.