If you are a talented and brillant entrepreneur capable of creating a business in Canada that (i) is original and creative, (ii) will create work opportunities for residents, and (iii) could become an international player. This article will let you know the eligibility requirement, the application process and supporting documents you need to succeed in your application.
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Eligibility to the Program
In order for you to be eligible for the Start-up Visa Program, you have five main requirements that you need to fulfill:
- Prove that your business is supported by a designated organization (see below). Those are Canadian venture capital firms, angel investors groups and business incubators, that need to issue you a Letter of Support. You need to contact them directly to ask for support.
- Show that the designated organization(s) that supports you hold(s) at least 50% of voting rights in the business and that you and a maximum of 4 others persons, hold the remaining 50% of voting rights, each one having at least 10% of voting rights.
- Prove that you meet the minimum language requirements, either in French or in English. You must meet the minimum level of the Canadian Language Benchmark (CLB) 5 in all of these four areas: speaking, reading, listening, and writing. You can learn more about the French test and the English test requirement here.
- Bring enough money to settle. The amount needed, updated every year, depends on the number of family members that are coming with you. You will need to show proof that you own the money and that it is not borrowed. The funds must be readily transferable funds in a convertible currency. Find out more here.
- You must not intend to live in the province of Quebec.
List of Designated Organizations
The list of Designated Organizations that could help your application for the start-up visa program is set by Immigration, Refugees, and Immigration Canada (IRCC). The process to pitch your idea is different for each organization. Each organization has its own requirements.
In order to be eligible for the Start-up Visa Program, you will have to receive support from one of the Designated Organizations, either a Venture Capital Fund (min investment of $200,000), a Angel Investor Group (min investment of $75,000), or a Business Incubator (no min investment).
In order to be eligible for the Start-up Visa Program, you will have to receive support from one of the Designated Organizations, either a Venture Capital Fund (min investment of $200,000), a Angel Investor Group (min investment of $75,000), or a Business Incubator (no min investment).
Designated Venture Capital Funds
You must get one or more of these groups to agree to invest a minimum of $200,000:
- 7 Gate Ventures
- Alt Ventures
- Amplitude Ventures Inc.
- York Entrepreneurship Development Institute (YEDI) VC Fund
- Apex Innovative Investments Ventures
- Arete Pacific Tech Ventures (VCC) Corp
- BCF Ventures
- BDC Venture Capital
- Extreme Venture Partners LLP
- Golden Venture Partners Fund, LP
- INP Capital
- iNovia Capital Inc.
- Intrinsic Venture Capital
- Lumira Ventures
- Invest Nova Scotia
- PRIVEQ Capital Funds
- Real Ventures
- Red Leaf Capital Corp
- Relay Ventures
- ScaleUp Venture Partners, Inc.
- Tangentia Ventures
- Top Renergy Inc.
- Vanedge Capital Limited Partnership
- Version One Ventures
- WhiteHaven Venture
- Westcap Management Ltd.
- Yaletown Venture Partners Inc.
- York Entrepreneurship Development Institute (YEDI) VC Fund
Designated Angel Investor Groups
You must get one or more investors connected to these groups to agree to invest a minimum of $75,000:
Designated Business Incubators
You must be accepted into one of these programs:
- Alacrity Foundation
- Alberta Agriculture and Forestry
- Alberta IoT Association
- Altitude Accelerator
- Bhive
- Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
- Brilliant Catalyst
- Creative Destruction Lab
- DMZ Ventures
- Empowered Startups Ltd.
- Extreme Innovations
- Foresight Cleantech Accelerator Centre
- Genesis Centre
- Highline BETA Inc.
- Invest Nova Scotia
- Innovate Calgary
- Innovation Cluster - Peterborough and the Kawarthas
- Innovation Factory
- Interactive Niagara Media Cluster o/a Innovate Niagara
- Intrinsic Innovations
- Invest Ottawa
- ISM Arts & Culture Ltd
- Knowledge Park o/a Planet Hatch
- Global Startups Accelerator
- Launch Academy - Vancouver
- LaunchPad PEI Inc.
- Millworks Centre for Entrepreneurship
- NEXT Canada
- Niagara Business & Innovation Fund
- North Forge East Ltd.
- North Forge Technology Exchange
- Pacific Technology Ventures
- Platform Calgary
- Pycap
- Real Investment Fund III L.P. o/a FounderFuel
- Red Leaf Capital Corp
- Roseview Global Incubator
- Spark Commercialization and Innovation Centre
- Spring Activator
- The DMZ at Ryerson University
- Think8 Global Institute
- TiE Toronto
- Toronto Business Development Centre (TBDC)
- Treefrog
- TSRV Canada Inc. (operating as Techstars Canada)
- University of Toronto Entrepreneurship Hatchery
- ventureLAB Innovation Centre
- VIATEC
- Waterloo Accelerator Centre
- York Entrepreneurship Development Institute
- YSpace (York University)
Biometrics Requirements
You may need to provide biometrics (fingerprints scanning and photograph). You can find more information on Biometrics in this page.
Medical Exam Requirements
You will need to pass a Medical Exam with an IRCC approved doctor. Find out more in our medical exams article.
Application Fees
When applying to the Start-up Visa Program, you must pay a $1,625 Business Immigration application fee in addition to the $515 Right of Permanent Residence fee. You can pay your fees ($2,140) online here.
For your spouse or common-law partner, you also need to pay a $850 Application fee and a $515 Right of Permanent Residence fee. For each dependent child, you need to add $230.
The processing fees are not refundable if the application processing started. The Right of Permanent Residence fee is refundable if the application is rejected, if you decide to cancel your application, or if you decide not to come to Canada.
For your spouse or common-law partner, you also need to pay a $850 Application fee and a $515 Right of Permanent Residence fee. For each dependent child, you need to add $230.
The processing fees are not refundable if the application processing started. The Right of Permanent Residence fee is refundable if the application is rejected, if you decide to cancel your application, or if you decide not to come to Canada.
Quebec Entrepreneur Program
Quebec has its own Business people Immigration Programs.
You can learn more about these programs and how to apply here.
You can learn more about these programs and how to apply here.
Processing Times
Immigration, Refugees and Citizenship Canada (IRCC) does not have a target service standard of processing for Start-up Visa Program applications.
You can find out the current average processing times here. You need to select "Economic Class", then "Start-up Visa".
You can find out the current average processing times here. You need to select "Economic Class", then "Start-up Visa".