Start-up Visa Program — What It Is and How To Apply

The Start-up Visa Program links foreign business founders with designated Canadian venture capital funds, angel investor groups, or business incubators. Applicants who secure a letter of support can apply for permanent residence while pursuing their innovative ventures in Canada. This blog outlines who qualifies, how to navigate the program, and key advice to accelerate approval.

What is the Start-Up Visa Program?

The federal Start-up Visa (SUV) Program targets entrepreneurs with high-potential businesses primed for success in Canadian and global markets. By collaborating with recognized investor networks or incubators, founders access mentorship, capital, and a stable entry into Canada.

• Investor or Incubator Support — Applicants must secure a letter of support from one of the designated organizations.

• Innovation-Focused — The start-up should introduce new products, services, or processes that can scale competitively.

• Permanent Residency Path — Approved founders gain permanent residency, regardless of the business outcome, although genuine efforts to run the start-up in Canada are expected.

Who is Eligible for the Start-up Visa Program?

1. Designated Organization Support

   • Must have a letter of support from a recognized venture capital fund, angel investor group, or incubator.

   • Monetary investment may be required (e.g., CAD $200,000 from a venture capital fund or CAD $75,000 from an angel group), but incubators focus on mentorship rather than direct funding.

2. Ownership Requirements

   • Applicants can apply for the program either individually or as part of a team with up to five co-founders. Each must hold at least 10% of the voting rights, and the founders plus designated organization must jointly control over 50%.

3. Language Proficiency

   • Canadian Language Benchmark (CLB) 5 in reading, writing, listening, and speaking.

4. Settlement Funds

   • Show sufficient resources to support yourself (and family) upon arrival.

5. Admissibility

   • Pass medical, police, and security checks.

Applicants who fulfill these criteria and demonstrate a viable start-up concept can obtain permanent residence while building their ventures in Canada.

How to Apply Step-by-Step

1. Develop a Scalable Business Plan

   Present a clear market opportunity, financial projections, and details on your team’s expertise.

2. Pitch to Designated Organizations

   Contact recognized venture capital funds, angel investors, or incubators. Meet their criteria for a letter of support.

3. Gather Language and Financial Documents

   Include valid test results (CLB 5) and proof of funds based on IRCC thresholds.

4. Submit PR Application

   Attach the letter of support, fees, forms, and additional documents. Some founders may request a temporary work permit to begin operations sooner.

5. Await IRCC Decision

   The government reviews the business’s authenticity, your background, and investor/incubator credibility.

6. Launch or Expand in Canada

   Approved applicants land as permanent residents and develop their start-ups, contributing to the local economy.

Processing Time and Fees

• Processing Time: IRCC may take around 40 months to finalize Start-up Visa applications, though times can vary.

• Application Fees: From CAD $2,385 for the principal applicant (includes the right of permanent residence fee). Additional fees apply for family members.

Check IRCC’s latest schedules to confirm up-to-date fees and timelines.

Tips to Succeed Under the Start-up Visa

1. Craft a Solid Pitch Deck

   Focus on market size, competitive advantages, and your team’s background. Investors want confidence in your venture’s viability.

2. Research the Right Designated Organization

   Choose an investor or incubator whose domain expertise matches your industry. Alignment boosts your pitch credibility.

3. Demonstrate Team Complementarity

   If multiple founders apply, show distinct roles and skills that strengthen the business concept.

4. Stay Committed to Canada

   IRCC and investors expect founders to run the venture locally and integrate into Canada’s start-up ecosystem.

5. Stay Informed on Program Changes

   The SUV has drawn global interest. IRCC capacity and designated organization lists can evolve.

Frequently Asked Questions (FAQ) About the Start-up Visa

Q1: Is there a minimum investment requirement?

Yes. For venture capital funds, at least CAD $200,000; for angel investor groups, at least CAD $75,000; incubators may not invest cash but provide direct incubation.

Q2: What if the business fails after I get PR?

The program does not revoke PR for genuine failures, but you must show sincere efforts to develop the start-up.

Q3: Can multiple founders share one letter of support?

Yes. Up to five co-founders can apply together, each meeting eligibility requirements.

Q4: Do I have to be physically in Canada during the application?

Founders can apply from abroad, though some seek a work permit to begin operations sooner.

Q5: Are there any sector restrictions?

No. Any innovative start-up can qualify if it meets investor/incubator standards and IRCC criteria.

Final Thoughts on the Start-up Visa Program

The Start-up Visa Program merges entrepreneurial ambition with Canadian economic interests. Founders who align with designated organizations, demonstrate a scalable idea, and secure essential capital or mentorship can earn permanent residency and establish ventures in a supportive environment. Whether you’re in tech, biotech, fintech, or another innovative field, the SUV provides a gateway to launching and growing a business in Canada.

Resources

IRCC Start-up Visa Program

SUV Process

Eligibility Requirements

Steps to Apply

Designated Organizations List