The Canada Start-up Visa Program is a gateway for immigrant entrepreneurs who aspire to establish innovative businesses in Canada (outside Quebec).
Designed to foster innovation, this program is tailored for entrepreneurs who want to bring their innovative businesses to Canada, creating jobs and driving growth in one of the most welcoming and business-friendly countries in the world.
In this guide, you’ll learn what the Canadian Start-up Visa Program is, alongside its benefits. We’ll also provide information on the eligibility criteria and the application process.
Let’s jump right in!
First off, What Is the Canada Start-up Visa Program?
The Canada Start-up Visa Program is your ticket to entrepreneurial success and permanent residence in Canada. In particular, the visa program targets immigrant entrepreneurs who demonstrate the potential to:
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Innovate: Bring fresh, forward-thinking business ideas to Canada.
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Create jobs: Generate employment opportunities for Canadians.
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Compete globally: Equip businesses to thrive in international markets while operating from Canada.
Why Should You Consider Opening a Business in Canada? Canada’s Economy Overview
Canada offers a stable economy, a thriving startup ecosystem, and access to global markets, making it an ideal place for entrepreneurs. With GDP growth projected to reach 2.5% in late 2025, the economy is supported by strong consumer spending and business investment.
Home to over 50,000 startups, including a tech hub in the Toronto-Waterloo area, Canada raised $6.9 billion across 660 deals in 2023. Tech startups alone secured $1.3 billion in Q3 of 2024, reflecting the country's growing innovation landscape. For entrepreneurs, Canada combines opportunity, support, and a high quality of life.
Canada’s Start-up Visa Program offers a unique opportunity to:
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Gain permanent residence in one of the world’s most welcoming countries.
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Access robust support systems for entrepreneurs, including mentorship and funding.
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Contribute to a thriving, diverse economy.
To apply for this visa, what eligibility requirements must you meet? Let’s explore these in more detail next.
Eligibility Requirements
Getting started with the Start-Up Visa Program requires meeting a few important criteria. These requirements ensure that you’re ready to succeed as an entrepreneur in Canada.
1. Have a Qualifying Business
To qualify, you must:
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Hold at least 10% of the total voting rights in the business (individually).
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Ensure that you and the designated organization collectively own more than 50% of the voting rights.
If your application is successful, you will have to incorporate your business in Canada and actively manage its operations from within the country. Lastly, you will need to make sure an essential part of your business’s operations occurs in Canada.
2. Obtain Support from a Designated Organization
The support of a designated organization can make all the difference. The following organizations, venture capital firms, angel investors, business incubators with committed capital, and organizations in Canada’s Tech Network, are trusted by the Canadian government to identify promising start-ups and are not being prioritized.
These designated organizations are approved groups that can invest in or mentor potential start-ups. Here’s how you can gain their backing:
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Pitch your business idea and convince the organization of its viability.
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Secure a Letter of Support and a Commitment Certificate from the organization.
3. Meet Language Requirements
Next, you must achieve at least Canadian Language Benchmark (CLB) 5 in listening, reading, writing, and speaking in either English or French through a language test by an approved agency.
4. Bring Enough Money to Settle
The Government of Canada does not provide financial support for Start-up Visa immigrants. Applicants must prove they have sufficient funds to support themselves and their dependents upon arrival.
This money cannot be borrowed and should be enough to cover living costs during your initial months in Canada.
Minimum Settlement Funds (as of June 3, 2024)
Family Size & Required Funds (CAD)
1 person: $14,690
2 people: $18,288
3 people: $22,483
4 people: $27,297
5 people: $30,690
6 people: $34,917
7 people: $38,875
Each additional member: $3,958 per person
It’s advisable to bring more than the minimum amount to ease your transition.
Supporting an Entrepreneur: Your Role in the Start-up Visa Program
Designated organizations play a critical role in the program’s success. If you’re interested in helping an entrepreneur, you can:
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Invest in or mentor their start-up.
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Provide a Letter of Support and a Commitment Certificate to facilitate their application.
Application Caps and Process
Each designated organization can support a maximum of 10 complete group applications annually, processed on a first-come, first-served basis. If the annual cap is reached, applications will be returned, and processing fees reimbursed. These caps apply each calendar year and will remain in effect through December 31, 2026.
The average processing time for the Start-up Visa Program is approximately 39 months, which includes the time required to review your application and complete all necessary steps.
Work While You Wait
While your permanent residence application is being processed, you can apply for a temporary work permit to start building your business in Canada without delay. To be eligible, you’ll need to:
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Show that your business has the potential to make a significant economic impact in Canada.
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Provide evidence that you have enough funds to support yourself and settle comfortably.
This option allows you to lay the groundwork for your entrepreneurial vision while your permanent residence application is being processed.
Start-up Visa Optional Open Work Permit
If you’ve applied for permanent residence through the Start-up Visa Program, you may be eligible for an optional open work permit.
Key features of this permit include:
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Validity for up to 3 years, giving you ample time to develop your business.
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The opportunity to work as an entrepreneur, focusing on building and growing your venture.
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The freedom to work for most employers in Canada allows you to supplement your income as needed.
Ready to Start Your Journey?
At High Net Worth Immigration, we provide a full-service package to help you navigate the Canadian Start-up Visa Program with ease. From pitching your business idea to securing a Letter of Support and preparing your application, we’re here every step of the way.
Let’s turn your business dream into a reality. Click here to get in touch with us.
Don’t wait—your innovative idea deserves a place in one of the world’s top business ecosystems.
