There are three types of private-sector investor:

• Angel investor
• Venture capital fund
• Business incubator

Initially a three-year pilot, the program was made permanent on March 31, 2018.

REQUIREMENTS

To be eligible for the Start-up Visa Program, you must:

1. Have a qualifying business
2. Get a letter of support from a designated organization
3. Meet the language requirements
4. Bring enough money to settle

Have a qualifying business

A qualifying business means you created a business that meets the following conditions.

• At the time you get a commitment from a designated organization:
  • Each applicant holds 10% or more of the voting rightsattached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners)

AND

• applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time
• At the time you receive your permanent residence:
  • You provide active and ongoing management of this business from within Canada
  • An essential part of the operations of the business happens in Canada
  • This business is incorporated in Canada

Get a letter of support from a designated organization

You must get a letter of support from a designated organization (a business group that has been approved to invest in or support possible start-ups). You’ll need to:

• Contact the designated organization to find out how to get its support
• Convince the organization that you have a business idea that is worth supporting
• Get a letter of support from the designated organization

The process to pitch your idea is different for each organization. Each organization has its own requirements. For example, you may be asked to present your business concept in person or submit a detailed business plan.

If you reach an agreement with a designated organization, it will send you a letter of support. You need to include this letter when you submit your application. This is the proof you need to show that the venture capital fund, angel investor group, or business incubator is supporting your business idea. The organization will also send a commitment certificate directly to us. Both your letter of support and the organization’s commitment certificate are used to assess your application. Please note that IRCC may ask you for more business information to take a final decision on your application.

Meet the language requirements

The ability to communicate and work in English, French or both languages will help your business succeed in Canada.

You must take a language test from an approved  agency and include the results with your application.
You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in either English or French in all of these four areas:

• speaking
• reading
• listening
• writing

 Bring enough money to settle

The Government of Canada does not give financial support to new start-up visa immigrants.

When you apply, you’ll need to give proof that you have the money to support yourself and your dependants after you arrive in Canada. You can’t borrow this money from another person. The amount you need depends on the size of your family.

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