1 Program Overview

Launched on April 1, 2013, the Start-Up Visa (SUV) program was designed to attract foreign innovative entrepreneurs, who are willing to establish new, high-growth businesses in Canada and support innovation and job creation. IRCC accepts 2750 applications each year.

2 Minimum Requirements:

• Meet the language requirements (CLB 5 in English or French)
• Have a qualifying business and received a letter of support (valid for 6 months) from a designated entity (venture capital funds, angel investor groups, or business incubators)
• Meet the ownership requirements for the business
• Prove availability of sufficient funds to settle in Canada

3 Benefits and Advantages of the Program:

• It is a good pathway for entrepreneurs with innovative business ideas to immigrate to Canada by starting a business that can contribute to Canada's job creation and economic development.
• Applicants can get investment from venture capital funds, angel investor groups or support from business incubators
• Processing time is fast (12-16 months)
• The program does not require previous management experience
• Application cost is relatively low compared to investment programs
• Can include up to 5 applicants for one proposed business project
• Flexibility to start a business anywhere outside the province of Quebec
• Immigration status is not affected whether the business is successful or not

4 Suitable Groups:

The Start-up Visa Program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that: a) are innovative, b) can create jobs for Canadians, c) can compete on a global scale.

5 Eligibility Requirements:

• Language Ability: CLB 5 in either English or French
• Education: have completed at least 1 year of post-secondary education
• Commitment from a Designated Organization: must get a letter of support from a designated organization (see the detailed list below)
• Qualifying Business: create a business in Canada anywhere outside the province of Quebec, provide active and ongoing management from within Canada.
• Ownership Requirements: 1) each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time; 2) 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
• Essential Person: can have up to 5 applicants for one proposed business project including one essential person. If the essential applicant is rejected, the other applicants will be rejected as well
• Investment: minimum financial commitment of $200,000 from venture capital fund or $75,000 from angel Investor, or acceptance into a business incubator program
• Settlement Funds: proof of sufficient settlement funds for each applicant

6 Proof of settlement funds (POF):

The Government of Canada does not give financial support to new start-up visa immigrants. The amount depends on the size of your family and may change every year.

Number of family members	Funds required (in Canadian dollars)
1	$12,960
2	$16,135
3	$19,836
4	$24,083
5	$27,315
6	$30,806
7	$34,299
For each additional family member, add	$3,492

 

7 Designated organizations:

Venture capital funds

(You must get at least one of these groups to agree to invest a minimum of $200,000):

• BDC Venture Capital
• Celtic House Venture Partners
• Extreme Venture Partners LLP
• Golden Venture Partners Fund, LP
• Impression Ventures
• Information Venture Partners Management Inc.
• Innovation Platform Capital International LP
• iNovia Capital Inc.
• Lumira Capital
• Nova Scotia Innovation Corporation (o/a Innovacorp)
• OMERS Ventures Management Inc.
• Pangaea Ventures Ltd.
• PRIVEQ Capital Funds
• Real Ventures
• Relay Ventures
• ScaleUp Venture Partners, Inc.
• Top Renergy Inc.
• Vanedge Capital Limited Partnership
• Version One Ventures
• Westcap Management Ltd.
• Yaletown Venture Partners Inc.

Angel investor groups

(You must get one or more investors connected to these groups to agree to invest a minimum of $75,000):

• Canadian International Angel Investors
• Ekagrata Inc.
• Golden Triangle Angel Network
• Keiretsu Forum Canada
• Oak Mason Investments Inc.
• Southeastern Ontario Angel Network
• TenX Angel Investors Inc.
• VANTEC Angel Network Inc.
• York Angel Investors Inc.

Business incubators

(You must be accepted into one of these programs):

• Alacrity Foundation
• Alberta Agriculture and Forestry
• Agrivalue Processing Business Incubator
• Food Processing Development Centre
• Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
• Creative Destruction Lab
• Empowered Startups Ltd.
• Extreme Innovations
• Genesis Centre
• Highline BETA Inc.
• Innovacorp
• Interactive Niagara Media Cluster o/a Innovate Niagara
• Invest Ottawa
• Knowledge Park o/a Planet Hatch
• LatAm Startups
• Launch Academy - Vancouver
• LaunchPad PEI Inc.
• Millworks Centre for Entrepreneurship
• NEXT Canada
• North Forge Technology Exchange
• Platform Calgary
• Real Investment Fund III L.P. o/a FounderFuel
• Ryerson Futures Inc.
• Spark Commercialization and Innovation Centre
• Spring Activator
• The DMZ at Ryerson University
• Toronto Business Development Centre (TBDC)
• TSRV Canada Inc. (operating as Techstars Canada)
• VIATEC
• Waterloo Accelerator Centre
• York Entrepreneurship Development Institute

8 Application Process:

• Aladdin assists applicant to select a designated organization (venture capital fund, angel investor group or business incubator)
• Applicant provides required documents to the selected organization
• Interview by the designated organization to review applicant's eligibility
• Designated organization prepares a business plan and recommends investment programs
• Applicant signs a formal agreement with the designated organization and receives a support letter
• Complete and mail complete application package for permanent residence
• Receive Confirmation of Permanent Residence (COPR) and PR Visa
• Land in Canada and receive permanent resident card

 9 Related Expenses:

 

Government Fees:

• Application fee: principal applicant: $1,540 (incl. $1050 processing fee and $490 permanent residence fee or RPRF); spouse or common-law partner: $1,040 (incl. $550 processing fee and $490 permanent residence fee); dependent children: $150/per child.
• Biometrics (if required): $85 per person; family (2 or more): $170
• Other third-party fees: medical exams, police certificates, language testing, notary, translation, delivery and postage, etc.
• Aladdin Immigration professional fees (excluding any government or third party charges)