Patricia Casaburi The Canada Startup Visa is an investment program that allows foreigners to get residency in exchange for a significant capital investment in the country’s economy.
Also known as the Canada Investor Visa, it offers various advantages, including permanent residency, access to global talent, family inclusion, and a thriving startup ecosystem across the Canadian market.
In this comprehensive guide, we’ll cover everything you need to know about Canada’s Startup Visa, including requirements, eligibility criteria, application process, and more.
Here is what to expect:
What is the Canada Startup Visa?
The Canada Startup Visa, also known as the Canada Investor Visa or the Canadian SUV Program, is a government program designed to attract immigrant entrepreneurs to open a start-up business. The program aims to create jobs in various industries and boost economic growth.
Foreign entrepreneurs bring innovation, greater flexibility, and market potential in various key sectors, such as technology, research, and international trade. The government hopes to streamline this process and inspire more business experts to immigrate to the Great White North.
⚠️Updates to the Canada Start-up Visa Program
In 2024, Immigration, Refugees and Citizenship Canada (IRCC) made important updates to the Canada Startup Program to streamline the application process and provide better support for foreign nationals.
Here’s what changed:
- Work permit duration: Increased from one year to three years.
- Work limitations: Applicants can now apply for an open work permit instead of being restricted to their startup.
- Work permit eligibility: All team members can apply, not just essential members.
- Application priority: Priority processing for applications with committed capital or Tech Network incubator endorsement.
- Permanent residency targets: Increased from 7,000 (2024) to 9,000 (2025).
- Commitment certificate allocation: Capped at 10 letters of support annually per designated organization.
Canada Startup Visa Benefits
Permanent residence: The Startup Visa program provides a direct path to permanent residence. You can live anywhere in Canada (other than the province of Quebec). You and your family get access to social benefits and a high standard of living.- Family inclusion: Your spouse or common-law partner and dependent unmarried children under 22 will receive permanent residency status and be able to work and study in Canada. They’ll also have access to public healthcare.
- High success rate: Canada has an excellent startup ecosystem with innovation-friendly policies, sufficient funding, and great networks.
- Access to global talent: International entrepreneurs have easier access to skilled and specialized workforce open to all nationalities.
- Angel group membership: International entrepreneurs get a 10-year membership in an angel group, which provides excellent networking opportunities and access to additional investments in innovative startups.
- Travel: Permanent resident (PR status) allows you to travel in and out of Canada without a visa.
- Quality of life: Canada has low unemployment rates and a diverse, well-established entrepreneurial culture.
- No limitations on business activities: This visa doesn’t link your permanent residence status to the performance of your start-up business. Once you receive permanent residency, you can pursue entrepreneurial or professional opportunities within Canada.
- Citizenship potential: After residing in Canada for three years, you may qualify for Canadian citizenship as a permanent resident. Canadian citizenship offers benefits, including the right to vote and unrestricted access to work and study.
- Immigration potential: The Immigration, Refugees, and Citizenship Canada (IRCC) allows an entrepreneurial team to immigrate together through the Start-Up Visa program as owners of a single business. The entrepreneurial team can include up to five people.
Permanent residence: The Startup Visa program provides a direct path to permanent residence. You can live anywhere in Canada (other than the province of Quebec). You and your family get access to social benefits and a high standard of living.Canada Startup Visa Requirements
The Canada Startup Visa eligibility requirements include a qualifying business, getting a letter of support with a commitment certificate from a designated organization (venture capital fund, angel investor group, or business incubator), meeting the language requirements, and bringing enough money to settle.
Have a qualifying business
To be considered a qualifying business, your startup must be innovative, scalable, and have the potential to create significant economic benefits to Canada.
A “qualifying business” must meet these requirements:
- When you get a commitment certificate from a designated organization:
- Each applicant holds 10 percent or more of the total voting rights (up to five owners can apply).
- Applicants and the designated organization must together hold more than 50 percent of the total voting rights for all shares of the corporation.
- When you receive your permanent residence:
- You provide active and ongoing management of this business from within Canada.
- A significant part of the business operations must happen in Canada.
- This business is incorporated in Canada.
Get a letter of support from a designated organization
You need a letter of support from an Authorized Government Designated Organization and a commitment certificate to proceed with the application process. The minimum investment required depends on the type of designated organization that endorses your business idea.
The Canada Startup Visa designated organizations include:
- Venture capital funds: You must get at least one designated venture capital fund (VC fund) to agree to invest a minimum of CAD$ 200,000 ($148,000) in your business.
- Angel investor groups: You must get at least one designated angel investor group to agree to invest a minimum of CAD$ 75,000 ($55,000) in your business.
- Business incubator: There are no minimum investment or funding requirements for a designated business incubator. Applicants just need their business ideas to be endorsed by an approved incubator and accepted into their program to proceed with the Canada investment visa applications.
Meet the language requirements
A proficiency in English or French is one of the main Canada startup visa requirements. You will need to provide language test results from an approved testing agency. You must meet the minimum level of the Canadian Language Benchmark (CLB) 5.
Bring enough money to settle
The Canadian government does not provide financial support to Canadian investment visa applicants. You must have sufficient funds to support yourself and your family members before you arrive in the country. This ensures that you can settle comfortably and focus on growing your start-up.
The family members’ funds required depend on the number of family members who are moving to Canada. If you move by yourself, you’ll need to demonstrate you have at least CAD$ 13,757 in your bank account. The fund requirements increase with each family member.
The table below provides the estimated funds.
Number of family members | Fund requirements (in Canadian dollars) |
1 | $14,690 |
2 | $18,288 |
3 | $22,483 |
4 | $27,297 |
5 | $30,690 |
6 | $34,917 |
7 | $38,875 |
If there are more than seven people in a family, add | $3,958 |
Canada Startup Visa required documents
- Detailed Resume (CV) of the candidate
- Draft Business Proposal
- Copy of Passport or Legal Travel Document
- Birth Certificate
- Marriage Certificate (if married)
- Police Clearance Record from your country of origin and residence
- Proof of Sufficient Funds: a recent Bank Statement covering at least six months
- Bank Reference
- Letter Language Test Results (IELTS CLB Level 5 or NCLC Level 5)
- Medical Examination Confirmation from a certified health institution
- Letter of Support from a designated entity
All documents must be legally translated to English or French and certified or apostilled from the corresponding country. You attach them directly via the Canada Startup Visa official website. This list isn’t exhaustive; the immigration office may request additional documents if necessary.
Family Eligibility for the Canada Startup Visa
Your immediate family members, including your spouse or common-law partner and dependent unmarried children under the age of 22, can accompany you to Canada and also receive permanent resident status.
You can add your spouse as a dependent. Like you, they must be over 18, gain security clearance, and pass a medical examination. You can include dependent, unmarried children under 22; they must also gain security clearance and pass a medical exam.
Canada Startup Visa Application Process
The step-by-step process of obtaining a Canada Start-Up Visa is:
1. Develop the business concept and prepare your business plan. Refine your business idea and create a comprehensive Canada Startup Visa business plan.
2. Obtain a letter of support from an authorized government designated organization. Connect with designated organizations and secure a supporting letter and a commitment certificate, demonstrating their belief in your start-up business.
3. Prepare your file and application. Gather all the necessary documents and forms to prepare your application for submission.
4. Submit an application for permanent residence. Submit your permanent residence application for the Start-Up Visa program through the Canadian immigration authorities. There is also an option to apply for special work permits at this stage.
5. Attend the medical and security verification. Undergo medical examinations, security background checks, and biometrics appointments as part of the PR application process. If you’re between 14 and 79 years old, you need to provide fingerprints and photos (biometrics) for every application for permanent residence you submit.
6. Receive Permanent Visa. Once your application is approved, you’ll be issued a Permanent Resident Visa.
Canada Startup Visa Processing Time
Canada Startup Visa processing time takes about 40 months. Many factors can cause a delay, such as missing documents, volume of applications, background checks, etc. While your application is being processed, you may be eligible for a temporary work permit. If you receive this work permit, you can come to Canada and work on your start-up while awaiting permanent residence. The permit was originally valid for just one year, but since October 3, 2024, the Canada Startup Visa open work permit is valid for three years.
Canada Startup Visa Cost
The application fees for the Canada Start-Up Visa program may range from $1,810 to $2,385. The fee can vary based on whether you need permanent residency and family inclusion. These fees don’t include the cost of your business investment.
The permanent residence application fee is CAD$ 2,140 for the main applicant, CAD$ 1,365 for your partner, and CAD$ 230 for each dependent child. The biometrics appointment costs CAD$ 85 for a single person or CAD$ 170 for a family of two or more people applying together.
Please note that there are additional costs for medical exams, language tests, authentication and translation of documents (when necessary), legal assistance, and so on. A Canada startup visa lawyer can provide the correct price analysis and help you navigate the application process. They can simplify the laws and regulations so you can make an informed decision.
Canadian Permanent Residency and Citizenship
While Permanent Residency (PR) is provided from when the application is approved, it is necessary to reside in Canada for 730 days (two years) within a five-year period to maintain PR status.
Investors and their family members are eligible to apply for citizenship if they live in Canada, while holding PR status, for three out of the five years (1,095 days) preceding their citizenship application, have an adequate knowledge of English and/or French, and have no criminal record.
Tax Considerations
Canadian residents are taxed at the federal and provincial levels on their worldwide income. Non-residents are taxed on Canadian-sourced income and on gains from the disposition of taxable Canadian property.
An individual is resident in Canada if he/she resides there or is ordinarily resident in Canada. A non-resident individual will be deemed to have been resident in Canada if he/she spends at least 183 days in Canada in a calendar year.
Provincial income tax rates are determined separately and added to federal rates. Capital gains taxes are levied, but at a reduction of 50 percent of capital gains, less allowable capital losses, and are included in the income being taxed at the individual’s applicable rate
How Can Global Citizen Solutions Help You?
Global Citizen Solutions is a boutique migration consultancy firm with years of experience delivering bespoke residence and citizenship by investment solutions for international families. With offices worldwide and an experienced, hands-on team, we have helped hundreds of clients worldwide acquire citizenship, residence visas, or homes while diversifying their portfolios with robust investments.
We guide you from start to finish, taking you beyond your citizenship or residency by investment application.
Frequently Asked Questions About the Startup Visa Canada
Can I apply if I'm in Canada on another visa?
Yes, Canada immigration law allows you to apply for this startup visa while on another visa in Canada. You must have valid status as a visitor, worker, or student when applying.
Can I apply if I've previously been denied a visa?
If you’ve been previously denied a Canadian visa, immigration law doesn’t automatically disqualify you from applying for the Start-Up Visa. Each application is assessed on its own merits, and previous visa refusals shouldn’t impact your eligibility, as long as you meet all the program requirements.
Who reviews Canada Start-Up Visa program applications?
The Immigration, Refugees, and Citizenship Canada (IRCC) reviews Start-Up Visa applications by assessing eligibility, the business plan, and the letter of support from a designated organization. A peer review panel may check if the application meets industry standards. They evaluate due diligence and investment quality.
Is there a language test for a Canada Startup Visa?
Yes, to apply for this visa, foreign nationals must meet the language requirements in either English or French. You’ll need to take a language proficiency test approved by the Canadian government to demonstrate your language skills. You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in English or French.
How do I obtain a work permit under the Canada Startup Visa Program?
To obtain a work permit under the Canada Start-Up Visa Program:
- Secure Support: Get a letter of support from a designated organization.
- Apply for a Work Permit: Submit your application, including the support letter, to Immigration, Refugees, and Citizenship Canada (IRCC).
- Start Your Business: Once approved, relocate to Canada and begin working on your startup while your permanent residence application is processed.
Should you need to extend your permit, go through the regular work permit extension process.
How is the National Angel Capital Organization involved in securing a Canada SUV?
The National Angel Capital Organization identifies and recommends top angel groups and incubators, ensuring your startup connects with valuable mentors and funding for Canadian visa approval.
What is the Startup Visa Canada success rate?
The overall success rate is above 75 percent but varies on support type. Strong applications backed by designated organizations have higher chances of success.
What is the Canada Start-Up Visa processing time?
According to IRCC’s processing times tool, the average total total processing time for a Start-Up Visa is about 40 months. The processing time is different for everyone and subject to potential delays.
What is the Canada Startup Visa minimum investment?
It depends on the designated organization that endorses your business idea. At least one venture capital fund should invest CAD$ 200,000. Angel investor groups must invest at least CAD$ 75,000 in your venture. But, there is no set minimum for a business incubator.
What are Canada's business immigration programs?
Canada’s key business immigration programs are the:
- Startup Visa Program, aimed at immigrant entrepreneurs opening innovative startups.
- Federal Entrepreneur Program, which targets experienced entrepreneurs looking to own and manage businesses in Canada.
