The Start-Up Visa Program focuses on entrepreneurs who want to immigrate to Canada. Specifically, those who can build businesses and create jobs for Canadians and Permanent Residents. The start-up visa allows applicants to obtain their Permanent Residency.
To be eligible for the Start-up Visa you must:
- Have a Letter of Support from a designated angel investor group (must secure at least $75,000 in support from this group) or venture capital fund (must secure at least $200,000 from this group) or business incubator (no initial investment from this group required)
- Have a business that meets the ownership requirements
- Ownership requirements are:
- Up to 5 people can apply for a Start-Up Visa
- Each of those applicants must have at least 10% of voting rights or more in that particular Start-up
- The designated angel investor group or venture capital fund or business incubator and the applicants must jointly hold more than 50% of the voting rights
- Meet the Canadian language benchmark (CLB) 5 in all four categories (reading, writing, listening and speaking) in either English or French; and
- Must meet the low-income threshold as set by Immigration, Refugees and Citizenship Canada) and provide for the cost of living before earning any income.
- The application fee for the primary applicant is $1050 not including the right of Permanent Residence fee ($490)
- Ownership requirements are:
To learn more, visit IRCC's Start-up Visa Program to determine if you are eligible and if the Start-up Visa is right for you.
Contact us today at (403) 452-9515 Ext. 100 or 1-800-932-1190 or email us directly
FAQs
What Is the Start-Up Visa Program?
Canada’s Start-Up Visa Program is a federal permanent residence pathway for immigrant entrepreneurs who intend to build an innovative business outside Quebec that can create jobs and compete internationally. Applicants traditionally needed support from a designated venture capital fund, angel investor group or business incubator.
The program is currently paused and is not accepting new permanent residence applications. IRCC continues to process applications submitted before the pause.
Who Qualifies for the Federal Start-Up Visa Program?
New applicants cannot currently apply because the program is paused. Under its eligibility rules, applicants must have a qualifying business, obtain a letter of support from a designated organization, meet a minimum language level of CLB 5 in all four abilities and have sufficient settlement funds.
Up to five owners may apply through the same business. Each applicant must hold at least 10% of the voting rights, while the applicants and designated organization must jointly hold more than 50%. Ackah Law can advise on pending Start-Up Visa applications or assess other business immigration options.
What Is the Minimum Investment Required for the Start-Up Visa?
There is no fixed amount that an applicant must personally invest. However, the required support traditionally depended on the type of designated organization:
- A designated venture capital fund had to invest at least $200,000
- A designated angel investor group had to invest at least $75,000
- A designated business incubator had to accept the applicant into its program, with no minimum investment required
These amounts do not include the applicant’s settlement funds, business expenses or any fees charged by the designated organization. Since the program is paused, these requirements cannot currently be used to submit a new application.
