• by hiimmigration

Canada’s Start-up Visa Program:

Program Objectives:

• Target immigrant entrepreneurs with the skills to build innovative businesses in Canada (outside Quebec).
• Aim to create jobs for Canadians and enable global competitiveness.

For Entrepreneurs with Business Ideas:

Application Process:

• Pitch your qualifying start-up to a designated organization and secure their support.
• Meet language requirements.
• Bring sufficient funds to settle in Canada.

Work Permit Option:

• If you’ve applied for permanent residence through the Start-Up Visa Program, you may be eligible to work in Canada while waiting.
• Conditions include demonstrating significant economic benefits and having adequate settlement funds.

For Organizations Wanting to Support Businesses:

Become a Designated Organization:

• Join the Canadian Venture Capital and Private Equity Association or the National Angel Capital Organization.
• Apply to become a designated organization.

Supporting Entrepreneurial Start-ups:

• Designated organizations can establish their process for receiving proposals from immigrant entrepreneurs.
• Develop criteria for assessment and actively seek potential immigrant entrepreneurs to support.

Program Objectives:

• Target immigrant entrepreneurs with skills to build businesses in Canada.
• Criteria include innovation, job creation for Canadians, and global competitiveness.

Process Overview:

• Innovative Business Idea:
  • If you have an innovative business idea, you may qualify for the Start-up Visa Program.
• Support from Designated Organizations:
  • Pitch your business idea to one of the designated organizations.
  • If they support your idea, you may be eligible to immigrate to Canada.
• Immigration Opportunity:
  • Successful entrepreneurs with support can consider Canada as their immigration destination.

Quebec Residents:

• If you plan to live in Quebec, refer to Quebec’s immigration website for their specific business immigration program.

Document Navigation:

• Access detailed information and navigate the application process through the provided document navigation or related resources.

Start-up Visa Program Eligibility:

To be eligible for the Start-up Visa Program, you must:

• Have a Qualifying Business:
  • Hold 10% or more of the voting rights in the corporation at the time of commitment.
  • Applicants and the designated organization must jointly hold more than 50% of the total voting rights.
  • Provide active and ongoing management of the business from within Canada.
  • Essential operations of the business must happen in Canada.
  • The business must be incorporated in Canada.
• Get a Letter of Support:
  • Obtain a letter of support from a designated organization.
  • Convince the organization that your business idea is worth supporting.
  • Include the letter of support in your application.
• Meet Language Requirements:
  • Take a language test from an approved agency (English or French).
  • Minimum Canadian Language Benchmark (CLB) 5 required in speaking, reading, listening, and writing.
  • Include test results with your application.
• Bring Sufficient Settlement Funds:
  • No financial support is provided by the Canadian government.
  • Demonstrate proof of funds to support yourself and your dependents upon arrival.
  • Cannot borrow this money from another person.
  • Required funds vary based on family size.

Settlement Funds Required (in Canadian dollars):

• 1 person: $13,757
• 2 people: $17,127
• 3 people: $21,055
• 4 people: $25,564
• 5 people: $28,994
• 6 people: $32,700
• 7 people: $36,407
• Each additional family member: $3,706

Failure to meet any of these requirements, including providing the letter of support, may result in application refusal. Applicants can also apply for a temporary work permit while their permanent residence application is being processed.

Contact now to book your free assessment.