Who can apply for Start-Up Visa Program?

What are the requirements to receive permanent residence under the Start-Up Visa Program?

The Start-Up Visa Program (SUVP) is for entrepreneurs who want to start and grow their companies in Canada. The program is created for entrepreneurs (and identified essential people within their businesses) who want to set up, work, and grow their businesses in Canada.

Under the SUVP, business owners are given permanent residence (PR), guidance, as long as Immigration Refugees and Citizenship Canada (IRCC) is satisfied that their businesses can potentially:

  • Create jobs in Canada;
  • Be innovative within a sector or industry; and
  • Can compete on a global scale.

Successful applicants under the program will retain PR status, even if their business venture should fail after immigration to Canada.

Eligibility

To be eligible for the program, you must own a qualifying business. This means that at any point in time you (as an owner) will need to own at least 10% of the voting rights of the business. In addition, all owners (up to five may apply together) and the designated investment organization in Canada must (at all times) collectively own at least 50% of the total voting rights.

Individuals who have such ownership must then:

  • Prove their business has sponsorship and support from a designated organization in Canada;
  • Ensure they meet the minimum language requirement for either English or French;
  • Have sufficient funds to settle and live in Canada; and
  • Pass immigration security and medical clearance checks.
  • Proving support from a designated organization

As a prerequisite, you must have support from a designated organization in Canada, including proof of funding. A designated organization is a business entity that has been approved by the government to invest in or support start-ups.

These designated organizations will need to give you a letter of support, which you will then have to include in your application for PR. In addition, the designated organization must send a commitment certificate directly to IRCC outlining their support and expectations from the venture.

Support and sponsorship can also come from multiple organizations simultaneously (also called syndication). In these cases, all designated organizations need to be identified, and will collectively submit a single letter of support and commitment certificate.

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