The Start-up Visa program is tailor-made for immigrant entrepreneurs with a viable and innovative business idea. Key Requirements:
- Minimum 10% ownership in your eligible new business
- Financial self-sufficiency (at least $14,690 annually per person, plus $3,958 for each family member)
- Official approval from designated organisations (venture capital funds, angel investors, or business incubator programs)
- Proficiency in English or French
The Application Process:
1. Secure Official Support
This is the cornerstone of your business immigration assessment: obtaining approval from government-authorised Canadian investment entities. When they support your eligible business, they’ll provide a commitment certificate guaranteeing:
- Venture capital fund: $200,000 minimum equity investment
- Angel investor: $75,000 investment
- Business incubator program: Networking or mentorship support
Important notes:
- Designated organisations can only support up to 10 startups, so timing matters
- Organisations can collaborate to meet the minimum investment required
2. Create Your Online Application
Using the Permanent Residence (PR) Portal provided by Immigration, Refugees and Citizenship Canada, you’ll need to upload:
- Language proficiency test results
- Letter of Support
- Birth certificates
- Passport
- Proof of funds
- Police certificate
- Fee payment receipt
3. Submit and Pay
- Application fee: $2,385
- Current processing time: Up to 44 months
4. Apply for a Temporary Work Permit
This crucial step allows you to run a business in Canada while you wait for your visa. It also demonstrates your serious intent to immigrate to Canada. You’ll need to:
- Incorporate your new business in Canada
- Actively manage operations within Canada
The Start Up Visa optional open work permit:
- Remains valid for 3 years
- Allows you to operate your business
- Permits employment with other companies if your business fails
5. Enter Canada
Once your work permit receives approval:
- Apply for an eTA (if you’re from a visa-exempt country)
- Present your eTA and work permit letter at a Canadian port of entry
- Receive your official work permit from an immigration official
After successfully operating your business, you can apply for permanent residence and eventually obtain Canadian citizenship.