Startup Visa Program

The Canada Startup Visa Program is an immigration initiative aimed at attracting innovative entrepreneurs from around the world to establish their startups in Canada. This program provides a pathway for qualified foreign entrepreneurs to gain permanent residency while contributing to the Canadian economy by creating jobs and driving innovation.

Key Features of the Startup Visa Program

1. Pathway to Permanent Residency: The program allows eligible entrepreneurs to apply for permanent residency in Canada based on their ability to establish a successful business.
2. Support from Designated Organizations: Applicants must secure a letter of support from a designated organization in Canada, such as:
   • Venture capital funds
   • Angel investor groups
   • Business incubators
3. Focus on Innovation: The program targets startups that are innovative, can compete globally, and have the potential for rapid growth.

Eligibility Criteria

To qualify for the Startup Visa Program, applicants must meet the following criteria:

1. Letter of Support:
   • Obtain a letter of support from one of the designated organizations, demonstrating their commitment to investing in or supporting the startup.
2. Ownership of the Business:
   • The applicant must hold at least 10% of the voting rights in the startup, while the designated organization must hold a minimum of 50% of the voting rights.
3. Language Proficiency:
   • Applicants must demonstrate proficiency in English or French, achieving at least a Canadian Language Benchmark (CLB) level 5 in all four language abilities (reading, writing, speaking, and listening).
4. Business Experience:
   • While formal work experience is not strictly required, having a strong entrepreneurial background and relevant business experience can significantly enhance the application.
5. Settlement Funds:
   • Applicants must prove that they have enough settlement funds to support themselves and their dependents upon arriving in Canada unless they are already working in Canada.

Application Process

1. Obtain a Letter of Support:
   • Entrepreneurs must first secure a letter of support from a designated organization. This often involves presenting a solid business idea and a comprehensive business plan.
2. Prepare the Application:
   • After receiving the letter of support, applicants gather the necessary documents, which may include proof of language proficiency, business plan, and proof of funds.
3. Submit the Application:
   • Applications are submitted to Immigration, Refugees and Citizenship Canada (IRCC), along with all required documentation.
4. Await Processing:
   • After submission, applicants will wait for IRCC to process their application. Processing times can vary.
5. Receive Permanent Residency:
   • If the application is approved, the entrepreneur and their family members can receive permanent residency in Canada.