A Guide to Canada’s Start-Up Visa Program

Canada’s Start-Up Visa (SUV) Program has emerged as a cornerstone of the country’s strategy to attract global entrepreneurial talent. Designed to foster innovation, create employment, and drive economic growth, this unique immigration pathway offers visionary entrepreneurs the opportunity to establish high-potential businesses in one of the world’s most welcoming and stable economies.

Launched with the intent to link ambitious foreign entrepreneurs with Canadian investors and incubators, the Start-Up Visa Program serves a dual purpose: it brings fresh, innovative ideas to Canadian markets and supports the country’s long-term economic development through scalable business ventures.

What is the Start-Up Visa program?

The Start-Up Visa Program is an immigration pathway that allows qualified foreign entrepreneurs to obtain permanent residency (PR) in Canada by launching a business that is innovative, scalable, and capable of competing internationally. Unlike traditional business immigration programs, the SUV does not require personal capital investment upfront. Instead, entrepreneurs must secure support from a designated Canadian organization such as a venture capital fund, angel investor group, or business incubator.

This model not only provides immigrant entrepreneurs with mentorship and funding but also ensures that only viable and market-ready business ideas are brought to the Canadian economy.

Eligibility requirements for applicants

To qualify under the Start-Up Visa Program, applicants must meet the following key criteria:

1. Ownership Stake

Applicants must own at least 10% of the voting rights attached to all shares of the business. Additionally, they and their designated organization must collectively hold more than 50% of the total voting rights at the time of application.

• Letter of Support

Applicants must obtain a letter of support from a designated organization. This involves pitching their business idea to the organization, demonstrating innovation, scalability, and viability. The support can come in the form of:

• $200,000 investment from a designated venture capital fund, or
• $75,000 investment from a designated angel investor group, or
• Acceptance into a recognized business incubator, which requires no financial investment.
• Language Proficiency

Applicants must demonstrate proficiency in either English or French, with a minimum Canadian Language Benchmark (CLB) score of 5 in reading, writing, listening, and speaking. Language ability is assessed through approved testing agencies.

• Proof of Funds

Applicants must show they have sufficient funds to support themselves and any dependents after arriving in Canada. The exact amount varies depending on family size and is updated annually.

The Application Process: Step-by-Step

Applying for the Start-Up Visa Program involves several essential steps:

• Develop a Business Idea that aligns with the innovation and growth criteria sought by designated organizations.
• Secure Support from a designated organization by pitching your business plan.
• Gather Required Documents, including language test results, proof of funds, identity documents, and your letter of support.
• Complete the Application Form and pay all necessary fees, including processing and PR fees.
• Submit Your Application, including all supporting documents, in a sealed envelope clearly marked “Start-Up Visa” to the designated processing center.

Applicants must also undergo medical examinations, provide police clearance certificates, and attend a biometrics appointment.

Start-Up Visa Program by the Numbers: Recent Trends

The popularity and impact of the SUV Program have surged in recent years. In 2023, the program set a new benchmark, granting permanent residency to 1,460 new entrepreneurs, more than doubling the previous high of 575 in 2022.

This upward momentum carried into 2024, with nearly 500 entrepreneurs becoming permanent residents in January alone—a record-setting month in the program’s history. These numbers highlight not only the increasing global demand for entrepreneur-focused immigration but also Canada’s commitment to positioning itself as a premier destination for business innovation.

Top Destinations for Start-Up Entrepreneurs

While entrepreneurs can establish their businesses anywhere in Canada, certain provinces have become hotspots for SUV immigrants:

1. Ontario

Canada’s economic engine and home to Toronto, Ontario welcomed 275 SUV immigrants in January 2024 alone. With its concentration of venture capital firms and tech incubators, the province remains a top destination.

2. British Columbia

B.C., particularly Vancouver, is known for its vibrant startup ecosystem and access to Pacific markets. It welcomed 170 SUV newcomers in the same month.

3. Other Provinces

Though Ontario and B.C. dominate, other provinces are also seeing increased activity:

This growing geographic diversity indicates a national interest in entrepreneurial immigration and reflects broader economic development goals.

If you are looking to Study, Work, Visit or Migrate to Canada, talk to I Can Help Immigration Services, at +1 778 239 7861 or +1 647 453 7660 with RCIC # R413239, Canada’s No.1 Immigration & Visa Company to get the best help you need.