CANADA START-UP VISA
The Canada Start-Up Visa program is an excellent option for immigrant entrepreneurs looking to launch innovative businesses that can compete globally
Eligibility
- Main applicant must have minimum CLB 5 English or French skills (IELTS 5 in most categories).
- Must get a Letter of Support from the designated organization: incubator, Venture Capital Fund, or Angel Investor Group
- Must convince the organization they have an innovative scalable business idea.
Benefits
- Direct permanent residence for the main applicant, spouse, children under 22
- Open work permit to develop business in Canada with organization support.
- Access to mentoring, funding opportunities, and resources to launch a business.
Process
After initial screening by a consultancy like Eterna, the applicant engages with a designated organization to evaluate their business plan and issue a Letter of Support. This letter is required for the permanent residence application. The applicant incorporates the business in Canada, obtains settlement funds, and applies for permanent residence. While the application is in process, they can work on developing the business in Canada on a temporary work permit.
CANADA Fact Sheets
Capital: Ottawa
Major cities: Toronto, Montreal, Vancouver
Population: 38.25 million (2021)
GDP: $1.991 trillion (2021)
Average Income: $40,630
FREQUENTLY ASKED QUESTIONS
The main applicant must have a minimum CLB 5 language proficiency in English or French and obtain support from a designated organization for their business idea.
Key conditions are receiving support from a designated organization, meeting the language criteria, incorporating a qualifying business in Canada, having sufficient settlement funds, and being admissible to Canada.
Businesses using new technologies, intellectual property, or innovative business models in sectors like IT, life sciences, advanced manufacturing, cleantech, and more.
Usually, at least CAD 300,000 if partnering with an incubator and $500,000+ for angel/VC investors. Proof of settlement funds is also required.
Yes, up to 5 co-founders can apply as a team if they can demonstrate their complementary skills.
6. How long does it take to get permanent residence?
Insufficient proof of business development in Canada, lack of global scalability potential, competing on existing ideas, unclear intellectual property rights, etc.
No, but having a Canadian co-founder or local mentor is beneficial for understanding regulations, hiring, getting customers, and expanding.
No, you must establish a new innovative business in Canada. Purchasing an existing business is not allowed.
Research thoroughly, ensure you have sufficient funds, verify your business idea is innovative with global potential, choose the right designated partner, and work closely with an experienced immigration consultant.