The Start-Up Visa program offers permanent residency to immigrant entrepreneurs and supports them in launching their businesses in Canada. It aims to help them build and grow their companies by connecting them with Canadian private sector partners who provide funding, mentorship, and business expertise.
Program Overview
The Start-Up Visa Program offers permanent residence to innovative foreign entrepreneurs who aim to establish and grow businesses in Canada, contributing to job creation and economic growth.
Eligibility Criteria
To qualify, applicants must:
- Meet language proficiency (CLB 5 in English or French);
- Have sufficient settlement funds;
- Plan to live outside Quebec;
- Pass medical and security checks;
- Secure support from a designated organization (VC fund, angel investor group, or incubator);
- Meet ownership requirements (max 5 applicants per business).
Investment Requirements
- $200,000 CAD minimum from a venture capital fund, or
- $75,000 CAD minimum from an angel investor group, or
- No minimum if accepted into a business incubator (no financial investment required).
- Applicants are not required to invest personal funds. PR status is retained even if the business fails.
Evidence of Support
- A Commitment Certificate must be submitted to IRCC by the designated organization.
- A Letter of Support is given to the applicant and must be included in the PR application.
- If multiple applicants are involved, essential persons’ approvals are mandatory for others to be approved.
Syndication
When multiple organizations are involved:
- A single Commitment Certificate is submitted,
- A combined Letter of Support is issued,
- If a VC is involved, the total minimum investment must be $200,000.
Peer Review Process
To prevent fraud, IRCC may request a peer review to assess:
- Incorporation in Canada,
- Verified ownership,
- Business model viability,
- Intellectual property,
- Incubator program acceptance (if applicable).
Peer reviews confirm due diligence but are not binding on IRCC’s final decision.
