Start-up Visa Program eligibility requirements:
• Have a qualifying business
• Have a letter of support from a designated organization
• Meet the language requirements (CLB 5 in in listening, reading, writing and speaking) have enough money to settle and live in Canada before you make money from your business.
Minimum investment needed to apply through the Start-up Visa Program:
• If the investment comes from a designated Canadian venture capital fund, you must secure a minimum investment of $200,000.
• If the investment comes from a designated Canadian angel investor group, you must secure a minimum investment of $75,000.
• You don’t need to secure a financial investment from a business incubator. You must be accepted into a Canadian business incubator program.
Do you have to invest your own money to apply through the Start-up Visa Program?
You’re not required to invest any of your own money. The minimum investment required has to come from a designated Canadian venture capital fund or angel investor group.
If I immigrate through the Start-up Visa Program, what happens if my business fails?
If your business fails, it doesn’t affect your permanent resident status. The Start-up Visa program is designed so that the risk is shared between the public and private sector.
Definition of a qualifying business.
A qualifying business means you created a business that meets the following conditions.
• At the time you get a commitment from a designated organization:
Each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners) AND
• applicants and the designated organization jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time.
• At the time you receive your permanent residence:
• you provide active and ongoing management of this business from within Canada
• an essential part of the operations of the business happens in Canada
• this business is incorporated in Canada