What is the Start-Up Visa Program?

The Start-Up Visa Program is a Canadian immigration business program where innovative entrepreneurs can apply to start a business and create jobs in Canada. You will need the support and endorsement of a Canadian venture capital fund, an angel investor, or a business incubator program to qualify.

Who can qualify under the Start-Up Visa Program?

You can qualify under the Start-Up Visa Program if you meet the following requirements:

• have a qualifying business
• have a letter of support from a designated organization (venture capital fund, angel investor, or business incubator program)
• meet the language requirements of at least CLB 5 in English or French, and
• have proof of sufficient settlement funds

What is the minimum investment to apply under the Start-up Visa Program?

The minimum financial commitment from a designated organization under the Start-Up Visa Program are as follows:

• Venture capital fund – $200,000
• Angel investor group – $75,000
• Business incubator – no financial investment; you must be admitted into the program

What happens if my business fails?

If your business fails, it will not affect your permanent resident status. IRCC understands that not every business will succeed. This is why the Start-Up Visa Program is designed to share the risk between the public and private sector.

Can the entrepreneurial team immigrate to Canada together?

Yes, a maximum of 5 people can apply through the Start-up Visa Program as owners of a single business.

Note that when reviewing your proposal, the designated organization will decide who is essential to the business. An essential person is deemed critical to the proposed start-up. Without the essential person, the designated organization will not invest or support the proposal. This means that if IRCC refuses the application of any essential person, all other applicants will be refused as well.

Can family members accompany the principal applicant?

Yes, you can bring family members that you declared in your application. These include:

• your spouse or common-law partner
• your dependent child (<22 years old>
• your spouse or common-law partner’s dependent child
• a dependent child of a dependent child

How long is the processing time and what are the processing fees?

Assuming your application is complete and accurate, Immigration, Refugee, and Citizenship Canada (IRCC) can process applications within 12-16 months.

The processing fee and right of permanent resident fee for the principal applicant is C$1,540. The fees for your spouse or common-law partner are C$1,040. The fee for each dependent child is C$150.

What are the key considerations in submitting an application?

The requirements might look simple on paper, but often applications are rejected because the documents submitted were inaccurate, incomplete, or non-compliant. Here are some key considerations when applying for the Start-Up Visa program:

• Do your voting rights meet the minimum and maximum thresholds?
• What do you do if both you and your spouse are individually part of the business?
• How do you start working on your business while your permanent residency application is still being processed?
• Can you adjust to issues quickly, and manage changes without errors or delays?