Canada Start-up Visa Program enables foreign entrepreneurs to establish businesses in Canada, and also their families to then apply for Canadian permanent resident status.
The Program connects candidates to Canada officially Start-up Designated Organizations that will facilitate the establishment and success of their start-up business in Canada. For example, angel investor groups, venture capital funds and start-up business incubators.
Foreign entrepreneurs with support of a Canada start-up designated organization can first launch their start-up, then apply for permanent residence in Canada.
Canada continues to experience accute labour and general economic shortfalls. Canada Start-up Visa Program is one of many immigration programs that the government agrressively promotes to boost Canada’s workforce.
Eligibility for Canada Start-up Visa Program
Canada Start-up Visa Program targets foreign entrepreneurs with the skills and potential to build businesses in Canada that:
- are innovative
- Â can create jobs for Canadians; and also
- can compete on a global scale
To be eligible for the Start-up Visa Program, you must:
- have a qualifying business
- get a letter of support from a designated organization
- also meet the language requirements
- bring enough money to settle
See Immigration, Refugees and Citizenship Canada (IRCC) guidelines for details.
How to apply for Canada Start-Up Visa
Note that the current processing time for Canada start-up visa is about 31 months.
The following are the initial steps from IRCC website:
- Get the application package
- Pay your application fees, and then
- Submit your application
Tips to successfully apply for Canada Start-up Visa Program:
- meet Canada immigration language requirements
- pitch your qualifying start-up to a designated organization and get their support; and also
- bring enough money to settle
See also Canada’s Start-Up Visa Program offers pathway to permanent residence for entrepreneurs.
Canada Start-Up Visa Proof of funds requirements
You must demonstrate that you have enough money to support yourself and any dependents once you arrive in Canada. Note also that the amount you need depends on the size of your family.
| Number of family members | Funds required (in Canadian dollars) |
|---|---|
| 1 | $12,960 |
| 2 | $16,135 |
| 3 | $19,836 |
| 4 | $24,083 |
| 5 | $27,315 |
| 6 | $30,806 |
| 7 | $34,299 |
| For each additional family member | $3,492 |