The Start-Up Business Class process is arduous and time-consuming; ease your burdens and let us guide you through it.
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 and can compete on a global scale.
This program was created to link immigrant entrepreneurs with private Canadian angel investor groups or venture capital fund organizations that have experience working with start-ups and can provide essential resources.
The basic requirements for this program
- Reached Canadian Language Benchmark 5 in listening, reading, writing and speaking.
- Prove that your business is supported through one of the designated organizations; and
- Show your business meets ownership requirements.
- Enough funds to settle in Canada
Criteria for a qualifying business
- The applicant (s) must have formed an entity for business/commercial purposes that has an ownership structure that complies with the percentages established by the immigration ministry.
- The applicant provides active and ongoing management of the business from within Canada.
- An essential part of the business’s operations is conducted in Canada, the operations could include, physical location, facilities, equipment, inventory, warehousing, management information systems, staff. These two requirements should satisfy the immigration officer.
- The business is incorporated in Canada
A qualifying business meets the required ownership structure if, at the time these commitments are met.
No more than 5 persons may be identified in a commitment to a single business proposal, each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time. In addition, applicants and the designated entity jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time
The start-up business must have received a commitment of support to the applicant by the designated angel investor group or venture capital fund. It is proof that they will support your business idea.
- A designated angel investor group confirming that it is investing at least $75,000 in a qualifying business or 2 or more designated angel investor groups confirming that they are together investing a total of at least $75,000 in such a business
- A designated venture capital fund confirming that it is investing at least $200,000 in a qualifying business or 2 or more designated venture capital funds confirming that they are together investing a total of at least $200,000 in such a business
- A designated business incubator confirming that it is accepting the applicant into its business incubator program.
- A letter of support from a designated organization – Commitment certificate and letter of support.
Having a letter of support from a designated organization is one of the main requirements (a business group that has been approved to invest in or support possible start-ups). Therefore, the applicant (s) 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 has its own requirements. The commitment certificate includes conditions that need to satisfy the immigration officer. Any missing of the conditions. Officers’ jobs are to ensure that the information in the letter of support is consistent with the information on the commitment certificate and follow up on any discrepancies by requesting clarification from the applicant, the designated entity and/or by initiating a peer review. The lead designated entity is responsible for submitting the commitment certificate directly to immigration.
Note: While your application for permanent residence is being processed, you can apply for a temporary work permit to get to Canada and start building your business.
- Settlement funds
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 dependents 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. We update these amounts every year.
The funds must meet all of the following criteria: be available and transferable, be unencumbered by debts or other obligations, be sufficient to support the initial establishment in Canada and must exclude any investment made by a designated entity into the business.
For proof of funds, the applicant must obtain official letters from any banks or financial institutions where they are keeping money.
- Official language proficiency
The ability to communicate and work in English, French or both languages will help your business succeed in Canada.
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 and writing.
You must take a language test from an approved agency and include the results with your application. If the minimum language required is not met, the application will be rejected.
- Plan to settle in any province other than the Province of Quebec.
Plan to settle in a province other than the Province of Quebec, the applicant must meet the following criteria or intend to meet them upon receiving permanent residence
- Applicant should be admissible.
