Entrepreneurs with an innovative business idea and ability to get a letter of support from a Canadian venture capital fund, angel investor group or business incubator can immigrate to Canada. The goal of Canada’s Start-up Visa Program is to build innovative businesses in Canada that can create jobs for Canadians and compete on a global scale.
Start-Up Visa Program Requirements
Venture capital funds, angel investor groups or business incubators are considered designated organizations under a start-up visa program. These organizations are business groups that have approval for investing in start-ups. If such an organization decides to support a start-up, it will give a Letter of Support.
Learn more about Canada Startup Visa Designated Organizations.
2 – A start-up business must meet ownership conditions.
Up to 5 people can apply as owners of a single business for a Start-up Visa Program. They must meet certain criteria:
Each owner must hold a minimum of 10 percent of the voting rights in the business.
The designated organization and the applicants must together hold more than 50 percent of the voting rights in the business. Voting rights are attached to each share of a business that is outstanding at a given time.
3 – Startup entrepreneur must meet language level.
The ability to communicate in any of both official languages in Canada is a must if you want to have a successful business. It is necessary to meet the minimum point of the Canadian Language Benchmark 5 in speaking, reading, listening and writing in either French or English.
4 – Startup entrepreneur must have enough money for basic needs.
New start-up visa immigrants must demonstrate sufficient money to maintain life in Canada. The amount needed depends on the size of a family.
Famly size – funds required in CAD $
1 – $12,960
2 – $16,135
3 – $19,836
4 – $24,083
5 – $27,315
6 – $30,806
7 – $34,299
Each additional family member – $3,492
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