Canadian Startup Visa Program

Overview

The Canadian Startup Visa Program is designed for immigrant entrepreneurs who have the skills and potential to build businesses in Canada that are innovative, can create jobs for Canadians, and compete on a global scale.

Key Features

Visa Type: Permanent Residence (PR)
Eligibility: Entrepreneurs with an innovative business idea, supported by a designated organization.
Processing Time: Around 12 to 16 months (subject to change).
Funding: No personal funds are required if supported by a designated organization.

Eligibility Criteria

Qualifying Business:
- Each applicant must own at least 10% of the voting rights.
- The combined voting rights of the designated organization and applicants must be over 50%.
Letter of Support:
- Must be obtained from a designated organization (venture capital fund, angel investor group, or business incubator).
Language Proficiency:
- Minimum of CLB 5 in either English or French.
Settlement Funds:
- Proof of sufficient funds to support yourself and your dependents after arrival.

Designated Organizations

Applicants must secure support from one of the following:

Venture Capital Funds: Minimum investment of CAD 200,000.
Angel Investor Groups: Minimum investment of CAD 75,000.
Business Incubators: Acceptance into an incubator program.

Application Process

Secure Support:
- Contact and pitch your business idea to a designated organization.
- Obtain a Letter of Support.
Prepare Documents:
- Include proof of language proficiency, business ownership, and settlement funds.
Submit Application:
- Apply for permanent residence through Immigration, Refugees and Citizenship Canada (IRCC).
Medical and Security Check:
- Undergo medical exams and provide police certificates.
Decision:
- Await the decision and follow instructions for PR confirmation.