Monday-Friday 10:00 - 18:00 Telephonic Appointment Only
Start Up Visa Program
Start Up Visa Program is a great option for foreign entrepreneurs who have the capability, skills and experience to setup new business in Canada. This program targets to permit innovative entrepreneurs to Canada and link them with the Canadian private sector businesses, (angel investor groups, venture capital funds or business incubators) and facilitate the formation of their start-up business in Canada. The business under Start Up Visa Program needs to create new jobs in Canada and help contribute to the Canadian economy and growth.
Persons with creative business idea are supported by the designated organizations of Canada.
Eligibility Requirements
Support by designated organization: To apply for the Start up visa, applicant needs to have a support from a designated entity or organization. Such Designated organization provides a letter of support to potential applicant, which you need to submit with your application for visa.
Language Proficiency: Applicant must have the required level of language proficiency (CLB 5) in either English or French. Provide the test result of a recognized organization (i.e. IELTS), with an appropriate score in all four language abilities, i.e. Speaking, listening, reading, writing.
Need to have enough funds: Applicant must show enough funds to support himself/herself and accompanying family members (if any) when landing in Canada. Provide the proof of funds while submitting application.
Education : Have completed at least one year of post-secondary
The required commitment from a designated entity must fulfill the following conditions:
A designated angel investor group must confirm that it is investing at least $75,000 Canadian dollars ( CAD)into the qualifying business, or two or more commitments from designated angel investor groups totaling $75,000 CAD; OR
A designated venture capital fund must confirm that it is investing at least $200,000 CAD into the qualifying business or two or more commitments from designated venture capital funds totaling $200,000 CAD; OR
A designated business incubator must confirm that it is accepting the applicant into its business incubator Program.
In order to qualify, the intended business must be incorporated and carrying on business in Canada at the time the commitment is made and:
The applicant owns a least 10% of the voting rights in the corporation; AND
No other person holds 50% or more of the total amount of voting rights in the corporation.
Up to five applicants may have their application for PR supported by the same business investment. Though, certain applicants may be designated essential to the intended business. If any of the essential applicants withdraw their application or are refused for other reasons, all other applicants under the same business investment will get the termination of their applications.
Applicants who have already secured a Commitment Certificate from a designated entity, and who are interested to start working in the business during the processing of their permanent residence application may apply for a short term work permit on the basis of their Commitment Certificate if this request is supported by designated entity.
At the date of publication, designated entities that could support an application under the Start-Up Visa program are:
Designated venture capital funds
BDC Venture Capital
Blackberry Partners Fund II LP (doing business as Relay Ventures Fund II)