Startup Visa

The Start-Up Visa Program was launched in April 2013 as a five-year pilot program designed to attract innovative foreign entrepreneurs to create new companies that can contribute to economic development and promote employment prospects. In 2018, the Start-Up Visa was made a permanent program due to its success story. As of May 2019, more than 650 entrepreneurs and their family members have been approved for permanent residence. They represent about 200 start-ups that have been launched in Canada. To apply for this program, an individual must have a business incorporated as a company in Canada, meet the language requirements, have settlement funds, and receive support from designated organizations.

Data Source: 2021-2023 Immigration Levels Plan

Data Source: Evaluation of the Start-Up Visa Pilot 

Foreign Entrepreneur(s) and startup founders with an innovative and financially viable business idea.

• Certain steps must be completed before you apply. These are listed below:

• • Have a qualifying business: The business must be incorporated in Canada, and the applicant must hold a minimum of 10% voting rights attached to the shares of the company. Furthermore, the applicants and the designated organization must jointly hold more than 50% of the total voting rights attached to the company’s shares.
  • Receive letter of support from the designated organizations: The designated organizations will issue you a letter of support and send a certificate of commitment directly to the Immigration, Refugee, and Citizenship Canada. There are three categories of a designated organization for the Start-Up Visa program to receive support from. They are venture capital funds, angel investor groups, and business incubators. The minimum required investment from a venture capital fund is $200,000 and $75,000 from angel investor groups. There is no minimum investment amount for business incubators, but the entrepreneur must be accepted into the business incubation program. See a list of designated organization for start-up visa.

•  Meet the language requirement:

English and French are the official languages in Canada. Applicants for the start-up visa are required to take a language test to prove their language skills. Get minimum Canadian Language Benchmark (CLB) 5 for speaking and listening, reading, and writing. Language Test results are valid for 2 years.

 Acceptable English language test:

• Canadian English Language Proficiency Index Program (CELPIP). Note:  Register for the CELPIP-General test.
• International English Language Testing System ( IELTS). Book your test at British Council IELTS Online Application. Note: Register for the IELTS English General Training Test.

    Acceptable French Language Test:

• Test d’evaluation de français (TEF)
• Test de connaissance du français (TCF)

   Link to Language requirement.

• Proof of Funds: Every applicant for a start-up visa must provide evidence of funds to support themselves and any family member. The number of funds you need will depend on the size of your family. This minimum amount is updated yearly. Proof of funds is the evidence that shows candidates have enough funds to settle in Canada. Find below a breakdown of the minimum funds you must have to immigrate to Canada.
• Follow this link to view the most up to date funds required.

  Examples of acceptable proof of funds include official Bank statements, investment certificates, gift deeds, etc. The money must be readily available to you when you submit your application and receive your start-up visa.

  After completing the above steps, it is time to apply for a start-up visa.

  First, get your application package and documents checklist and read the instructions carefully.

   

  Secondly, fill out your application forms entirely on a computer, validate the forms, print out all the forms, including the barcode page, date, and sign the forms.

  Thirdly, pay your application fees. The estimated cost per Adult is $2,075. 

The estimated cost per Adult is $2,075. See the breakdown below:

    Data Source: Fee list

Submit your application by mailing your complete application. See mailing instructions.

Applicants may be required to give their biometrics for permanent residence applications. You must give your fingerprints and photos.  Visit this link to learn more about how to give your Biometrics. Estimated Cost – $85 Individual, $170 Family.

The processing time for a start-up visa application is 12 to 16 months.

Foreign entrepreneurs applying for a start-up visa program can now apply for work permits while processing their start-up visa application. This will enable them to enter Canada and manage their business. Learn more about your eligibility for the work permit and how to apply.