"The Start-Up Visa Program offers immigrants a pathway to permanent residence in Canada, supporting entrepreneurs to establish and grow innovative businesses while successfully settling in the country."

The Entrepreneur Start-Up Visa Program

The program encourages immigrant entrepreneurs to grow their businesses in Canada. Successful candidates connect with Canadian private sector organizations that provide financial support, expert advice, and guidance to help them launch and manage their businesses effectively in Canada.

Eligibility Requirements

This program aims to attract innovative foreign entrepreneurs who will generate new jobs and drive economic growth. To qualify for the Start-Up Visa, applicants must meet the following eligibility criteria:

Under the Start-Up Visa program, up to five foreign nationals can apply for permanent residence jointly through the same company.

Investment Details

Immigration, Refugees and Citizenship Canada (IRCC) has designated several venture capital funds, angel investor groups, and incubators to participate in the Start-Up Visa program.

Selected applicants must secure a minimum investment in their Canadian start-up: at least $200,000 if the funding comes from a designated venture capital fund, or at least $75,000 if it comes from a designated angel investor group.

While applicants are not required to obtain investment from a start-up incubator, they must be accepted into an approved Canadian business incubation program.

Applicants do not need to invest their own money. If their start-up venture is unsuccessful, permanent residents will still maintain their permanent residency status.

Evidence if Commitment

To prove that an applicant has received support from a venture capital fund, an angel investor group, or a start-up incubator, the investor organization must submit a signed commitment directly to IRCC. This document outlines the agreement between the applicant and the investment organization, summarizing the key details of their commitment.

Additionally, the applicant will receive a certificate of support from the investment agency, which must be included with their permanent residence application.

If multiple applicants are associated with the same company, the investment organization’s commitment may require that one or more “significant persons” reside permanently in Canada. A significant person is someone designated by the investment organization as essential to the business. Should the application of any key person be refused, the applications of all other individuals listed in the commitment letter will also be refused.

Support from Multiple Organizations

Applicants may receive support from multiple organizations through syndication. In such cases, all participating entities must be clearly identified. Together, these designated organizations will submit a single Certificate of Commitment to IRCC, and the candidate will receive one consolidated letter of support.

When a designated venture capital firm invests in a company, the total minimum investment required is $200,000, even if one or more angel investor groups also invest in the same business.

If the company is supported solely by one or more designated angel investor groups without involvement from venture capital firms, the minimum investment required is $75,000.

Support from Multiple Organizations

To prevent fraud in this pilot program, a peer review process has been established. Its purpose is to verify the legitimacy of agreements between investment organizations and foreign entrepreneurs. An immigration officer may request an independent assessment of a commitment by a peer review committee. These committees are created by industry associations representing the types of investment organizations involved.

For example, if the commitment comes from an angel investor group, the National Angel Capital Organization is responsible for forming the peer review panel. If the commitment is made by a venture capital fund, the Canadian Venture Capital and Private Equity Association oversees the process.

The peer review may be requested when an immigration officer believes it will aid in their decision-making or may be conducted randomly. However, the peer review committee’s assessment is advisory and not binding. It confirms that the investment organization has conducted proper audits and investigations according to industry standards but does not evaluate the accuracy or feasibility of the business proposal itself.

The peer review examines the level of due diligence performed by the designated organization and:

As this is a pilot program, a maximum of 2,750 applications are processed annually. The program is limited to a five-year duration. If successful, the Government of Canada may make the Start-Up Visa Program permanent before the end of this period.