Start-up Visa Program

 

Canada’s Start-Up Visa Program is designed to attract immigrant entrepreneurs with the skills to build innovative businesses in Canada (excluding Quebec) that can create jobs for Canadians and compete globally. The program allows foreign entrepreneurs to obtain permanent residence in Canada through business immigration, either for innovative start-ups or established foreign companies. Here are the eligibility requirements for the Start-Up Visa program in 2023:

 

1- Obtain a Letter of Support or investment commitment from one of the Designated Organizations in Canada.

2- Each foreign national must own at least 10% of the shares in the startup, and collectively, foreign nationals and their Designated Organization must own more than 50% of the total shares (voting rights) in the start-up.

3- Meet the minimum English or French language skill at CLB level 5.

4- Have sufficient funds to settle in Canada (ranging from $12,960 to $34,299, depending on the size of the applicant’s family).

 

Additional criteria for success in the program include:

 

1- Ownership of an innovative or successful business generating scalable and sustainable revenue or with strong market validation.

2- Access to capital to fund the start-up venture, typically around $200,000 per applicant.

3- Highly specialized knowledge, unique experience in the field, or solid managerial experience.

4- An upper-intermediate level of English and/or French language skill(s).

 

It’s important to note that the Start-Up Visa program may not be suitable for entrepreneurs with limited 6- capital for their venture, as obtaining support from Designated Organizations requires a well-capitalized venture. While the program is advertised as requiring “no minimum investment,” in practice, ventures should be well-capitalized to receive support. Entrepreneurs with limited capital may find other pathways more suitable.

 

 

Source:

https://sobirovs.com/startups/start-up-visa-program/

https://www.canada.ca/en/immigration-refugees-citizenship/services/immigrate-canada/start-visa.html