START-UP VISA.

You can apply for a Start-Up Visa if you meet the following eligibility criteria:
 

Have a qualifying business: A business is said to be qualifying if, at the time of receiving a commitment from a designated organization, each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time. Along with that, applicants and the designated organization jointly hold more than 50% of the total voting rights.

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Get a letter of support from a designated organization: You need to get a letter of support from an authorized entity, which is typically a venture capital fund, angel investor group, or a business incubator.

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Meet the language requirements: Proficiency in English or French is mandatory, with the minimum requirement being Canadian Language Benchmark (CLB) 5 in either listening, speaking, reading, or writing.

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Bring enough money to settle: The government does not provide any financial support to new start-up business immigrants. Therefore, you should have sufficient money to support yourself and your dependents after you arrive in Canada. The specific amount you need depends on the size of your family and is updated annually.

The processing time for a Start-up Visa application can be a lengthy process.

On average, it takes about 37 months from the date of submission for the application to be processed.

However, this timeframe may vary depending on individual circumstances and the completeness and accuracy of the information provided in the application.

The Start-up Visa Program does not provide direct financial support to these new immigrants.

Applicants are required to demonstrate that they have sufficient funds to support themselves and their dependents upon arrival in Canada:

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• 1 Family Member:  $13,757 CAD

• 2 Family Members: $17,127 CAD

• 3 Family Members: $21,055 CAD

• 4 Family Members: $25,564 CAD

• 5 Family Members: $28,994 CAD

• 6 Family Members: $32,700 CAD

• 7 Family Member: $36,407 CAD

• If more than 7 people (for each member): $3,706 CAD

The minimum investment required for the Start-up Visa program varies based on the source of the investment.

Investment Secured from a Designated Canadian Venture Capital Fund

The applicant must raise a minimum investment of $200,000.

Funding Comes from a Designated Canadian Angel Investor Group 

The minimum investment requirement is reduced to $75,000.

Business Incubator Program

Applicants who are accepted into a Canadian business incubator program are not required to secure a financial investment. It is, however, mandatory for them to be accepted into such a program.

To secure a Start-up Visa, get a letter of support from a designated organization. A designated organization will back your business idea and vouch for its potential success.

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To obtain this support, you will need to reach out to the organization directly to understand their unique process for accepting pitches. Each organization has its own set of requirements and guidelines. Some may require a formal business plan, while others might want a simple elevator pitch or even a full-fledged prototype of your product or service.

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The key to securing their support is to convincingly demonstrate that your business idea is worth backing.

The Start-up Visa program provides a pathway to permanent residency to attract entrepreneurial talent from around the world. 

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The program acknowledges the potential risks entrepreneurs take, and by providing a pathway to permanent residency, it offers a degree of security and stability.

This security can be particularly appealing to entrepreneurs, as it allows them to focus on developing their start-ups without worrying about their immigration status.

If you have already applied for permanent residence through the Start-Up Visa Program, you could potentially start working in Canada while you await the application's final processing.

This is possible if you can demonstrate that:

• Your business would offer a significant economic benefit to the country. 

• You possess adequate funds to support your initial settlement in Canada.