Business Start-Up

The Start-Up Visa (SUV) Program administered by Immigration, Refugees and Citizenship Canada is designed for entrepreneurs who have the skills and potential to build innovative businesses in Canada.

Successful applicants, along with their eligible dependents, are granted permanent residence in Canada. In addition, applicants benefit from:

• Business mentorship and guidance
• Access to funding opportunities
• Support from designated Canadian organizations

Up to five (5) individuals may apply as owners under a single business venture.

Eligibility Requirements

To qualify for the Start-Up Visa Program, applicants must:

• Have a qualifying business (see below)
• Obtain a Letter of Support from a designated organization
• Secure the minimum required investment (if applicable)
• Meet the minimum language requirement of CLB 5 in English or French
• Pass medical and security clearances
• Demonstrate sufficient settlement funds
• Intend to reside in a province outside of Quebec

Qualifying Business Requirements

A business will be considered a Qualifying Business if it meets the following conditions:

At the Time of Commitment

• Each applicant holds at least 10% of the voting rights attached to all shares of the corporation; and
• Applicants together with the designated organization jointly hold more than 50% of the total voting rights

At the Time of Permanent Residence

• The applicant(s) provide active and ongoing management of the business from within Canada
• A significant portion of the business operations takes place in Canada
• The business is incorporated in Canada

Investment Requirements

Immigration, Refugees and Citizenship Canada designates specific organizations authorized to support SUV applicants, including:

• Venture capital funds
• Angel investor groups
• Business incubators

Applicants must meet one of the following:

• Secure a minimum investment of $200,000 from a venture capital fund; or
• Secure a minimum investment of $75,000 from an angel investor group; or
• Be accepted into a designated business incubator program

Multiple Organizations

• Support from more than one organization is permitted
• A single Commitment Certificate must be submitted to IRCC
• Applicants receive one Letter of Support

Where multiple organizations are involved, the minimum investment threshold is determined by the organization making the primary investment. The designated organizations must be identified and jointly provide IRCC with a single Commitment Certificate and provide the Applicant(s) one Letter of Support.

In a situation where multiple designated organizations are providing support, the minimum total investment amount is determined by the requirements of the contributing organization that invests first (i.e. if the business receives an investment from an angel investor group, but not a venture capital fund, the minimum total investment must be $75,000).

Peer Review Process

To maintain the integrity of the program, immigration officers may request a peer review of the commitment. These assessments are to be conducted by a peer review panel of experts assembled by the Applicant’s industry association.

This independent assessment is conducted by a panel of experts who are responsible for the following:

• Evaluation of the due diligence conducted by the designated organization
• Review of the investment terms for industry consistency
• Verification that the business is or will be incorporated in Canada
• Confirmation of ownership structure compliance
• Assessment of the business model viability
• Review of the management team’s qualifications
• Verification of intellectual property ownership
• Determination of the business’s high-growth potential
• Confirmation of acceptance into a business incubator, where applicable

Work in Canada While Your Application is in Process

Applicants may be eligible to apply for a temporary work permit under the International Mobility Program while awaiting a decision on their permanent residence application.

This allows entrepreneurs to:

• Enter Canada
• Begin building and operating their business
• Establish themselves prior to permanent residence approval

Disclaimer

This information is provided for general guidance only and does not constitute legal advice. Eligibility under the Start-Up Visa Program is assessed on a case-by-case basis. In addition to this, once the program reopens, there might be changes introduced or it might be replaced with another pilot program.