Canada has traditionally been a top destination for immigrants, particularly those seeking business, and as such, it has developed a variety of visa programs, each with a distinctly different focus. This overview will explain the Start-Up Visa.
About the Program
CIC startup visa was launched by the Canadian government in 2013 as a pilot project and became permanent in 2019. Its primary goal is to attract entrepreneurs with innovative business ideas capable of creating jobs for Canadians and competing in the global market.
Unlike alternative business immigration visas, the SUV provides for permanent resident status from the outset, rather than a permanent residence permit.
The program has undergone changes over the years. The most recent update occurred in 2024, introducing new rules limiting the number of applications to no more than 10 startups per designated organization. The goal of the update is to identify high-potential startups that can bring the greatest benefit to Canada. The result is understandable: competition among applicants has increased, and organizations have become more selective.
Interesting fact: over 300 startups have been created in Canada as a result of the introduction of this program.
Program Requirements
The main requirement of the SUV is to receive the green light from one of the organizations accredited by the Canadian government.
These organizations are divided into three categories: venture capital funds (requiring an investment of at least $200,000), business angels (at least $75,000), and business incubators (no mandatory investment).
In addition, applicants must meet other criteria:
- Proficiency in English or French at a minimum of CLB 5 in all sections (reading, writing, listening, speaking);
- Have sufficient funds to support themselves in Canada during the period of settlement;
- Pass a medical examination and provide a certificate of no criminal record.
How to obtain a visa
Applicants for a startup visa must go through several steps.
The first step is finding and obtaining support from an accredited organization, which must issue an official Letter of Support confirming the organization's interest in the project and its willingness to support it. After this, the applicant can apply for permanent residency, attaching language certificates, proof of financial solvency, and other required documents.
