Canada Start Up Visa
CANADA START UP VISA
CANADA START UP VISA

Canada has always been a country that welcomes immigrants. It boasts high standards of living, excellent educational and universal healthcare system. Canada spends more on education per capita than any other state and has been named the most educated country in the world. It is the second largest country among the top economies of the world.

Visa-free travel to
189 countries for citizens

Dual citizenship
allowed

Physical stay
required

Initial funds for
Settlement – Required

canada

Canada

START UP VISA (SUV) PROGRAM

Benefits

  • High quality of life with enormous opportunities;
  • One of the best education system in the world;
  • Close proximity to the US and other NAFTA markets;
  • World-class healthcare system in the world;
  • Opportunity to apply for the Canadian citizenship after five years of permanent residency;
  • As Canadian passport is deemed to be one of the strongest passports in the world.
  • Perfect place to do business and settle in with the family.
  • Superb environment and strict environmental control.

In 2018 Canadian Government made the pilot program of the Canada Start Up Class, which is commonly referred to as the Start-Up Visa program (SUV) , permanent. The scheme offers permanent residence to qualified immigrant entrepreneurs. It targets innovative entrepreneurs and links them with private sector investors in Canada that will help establish their start-up business.

Initially program applicants can relocate to Canada by obtaining a work permit, supported by their designated Canada-based organizations. Once their business is set up and running, they can qualify for permanent residence status.

There are four major requirements for applicants to be eligible to qualify for SUV program:

  • Qualifying business;
  • Commitment Certificate and Letter of Support from a Canadian-based designated entity;
  • Sufficient settlement funds;
  • Proficiency in English or French at minimum Canadian Language Benchmark level 5.

If an entrepreneur has a viable start up business project, it will take about 4-6 months to secure a commitment certificate/letter of support from a designated entity, which should be a Canadian private sector angel investor, venture capital fund or business incubator.

The application for permanent residence can be submitted after a letter of support is received and in approximately 18 months a status of permanent resident is granted. Applicants must take an active part in the management of the business in Canada. The business must be incorporated and carrying activities in Canada and the applicants must own at least 10% of the voting rights in the corporation, while no other person can hold 50 percent or more.

Investment Options

Investor Program

In order to apply SUV Program in Canada, an intending immigrant entrepreneur must have or develop a viable business project or venture, which will meet due diligence requirements of government approved designated entities and get the support/commitment of them. These entities can be venture capital funds, angel investor groups or business incubators and the required commitment must meet the following criteria:

A designated venture capital fund must confirm that it is investing at least CAD 200,000 into the qualifying business. Candidates can also qualify with two or more commitments from designated venture capital funds totaling CAD 200,000.
A designated angel investor group must invest at least CAD 75,000 into the qualifying business. Candidates can also qualify with two or more investments from angel investor groups totaling CAD 75,000.
A designated business incubator must accept the applicant into its business incubator program and there is no investment threshold requirement.
Applicants have to prove that they are in possession of enough funds for settlement in Canada. A financial threshold for one person is CAD 12.960, while for two persons it stands at CAD 16,135 and increases by CAD 3,492 for each additional family member. The amounts of settlement funds for SUV Program are updated yearly.
  • Applicable Fees

    Processing Fees
    Main applicant $1050
    Spouse $550 + $490 (as RPRF)
    Each family member $150
    Right of Permanent Residence Fee (RPFR) $500
  • Funds required for settlement in Canada

    Number of family members Funds required (CAD)
    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 $3,492

Application Process

Step 1

Designing business in Canada and application preparation

Step 2

Hiring a Regulated Canadian Immigration Consultants (RCIC)

Step 3

Have a Letter of Support From a Designated Organization (Venture capital funds; Angel investor groups or Business incubators)

Step 4

Pass the English (CELPIP, IELTS) or French (TEF Canada, TCF Canada) language tests score at least 5 in Canadian Language Benchmark (CLB)

Step 5

Submit proof of funds enough to support settlement in Canada

Step 6

Download, fill out and submit in hard copy application forms to Immigration, Refugees and Citizenship Canada (IRCC), including medical exam results, language tests and police certificiates

Step 7

Cover all applicable fees, including biometrics and third-party fees (payments are performed online)

Step 8

Issuance of Permanent Residence Card in Canada