Canada’s Start-up Visa Program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that:
- are innovative
- can create jobs for Canadians
- can compete on a global scale
And fulfill four basic eligibility requirements
- Have a qualifying business;
- Obtain a commitment from a designated entity in the form of a Commitment Certificate and Letter of Support;
- Have sufficient unencumbered, available and transferable settlement funds, updated each year (the requirements identical to those for skilled workers);
- Demonstrate sufficient proficiency in English or French through standardized testing (Canadian Language Benchmark level 5) ;
To apply for the Start-up Visa Program, your business idea or venture must get the support of one or more of the designated organizations listed below:
Designated organizations are business groups that are approved to invest in or support possible start-ups through the Start-up Visa Program.
Organizations choose which business proposals to review. Each organization has its own intake process for proposals and criteria used to assess them. For example, you may be asked to present your business concept in person or submit a detailed business plan.
If an organization decides to review your business idea, it’ll assess the potential of your proposal and whether or not it’ll succeed.
If an organization chooses to support your business idea, it’ll give you a Letter of Support.
The required commitment from a designated entity must meet the following criteria:
- A designated angel investor group must confirm that it is investing at least $75,000 into the qualifying business, or two or more commitments from designated angel investor groups totaling $75,000; OR
- A designated venture capital fund must confirm that it is investing at least $200,000 into the qualifying business or two or more commitments from designated venture capital funds totaling $200,000; OR
- A designated business incubator must confirm that it is accepting the applicant into its business incubator Program.