Canada is an ideal country for entrepreneurs to start their businesses thanks to a bolstered economy, excellent quality of life, and a welcoming atmosphere. The Canadian government, too, is keen on improving the country and has introduced a string of initiatives to attract foreign entrepreneurs to start businesses there for business visa. One such initiative is the Canada Startup Visa Program. The Canada Startup Visa was implemented in a bid to attract foreign entrepreneurs to invest in and contribute to the Canadian economy. It aims to bring talented entrepreneurs worldwide with innovative business ideas and the potential to create jobs for Canadians. In addition, the program provides a pathway to permanent residency in Canada for foreign entrepreneurs who can secure the support of designated organizations in Canada.

 

What is the start-up visa program?

The Canada Start-up Visa Program is a strategic program that provides a pathway for foreign entrepreneurs to obtain permanent residency and establish a business. This program works as a “wild card” of sorts. Its objective is to attract innovative entrepreneurs who have the potential to start successful businesses and generate employment in Canada. In addition, this program requires foreign entrepreneurs to secure the support of designated organizations in Canada that are approved to invest in or support start-ups. With the start-up industry booming in Canada, this is an excellent time for business owners and entrepreneurs around the globe to mark their presence in this country. 

What are the requirements for Canada's start-up visa?

Foreign entrepreneurs and business owners must meet the following requirements to qualify for Canada’s start-up visa. They are – 

  1. Qualify for a letter of support and commitment support from a designated organization in Canada.
  2. Have a business idea that is innovative, scalable, and has the potential to create jobs for Canadians.
  3. Possess sufficient language skills in either English or French. Precisely, you should meet the minimum level 5 of the Canadian Language Benchmark in the two aforementioned languages in speaking, reading, writing, and listening.
  4. Have enough funds to settle in Canada and support themselves and their family members for at least one year.
  5. Pass a security and medical examination. 

Designated organizations for a start-up visa

Canada has six types of designated organizations that can provide endorsement for entrepreneurs seeking a start-up visa –

  1. Venture Capital Funds – These Canadian venture capital funds are members of the Canadian Venture Capital and Private Equity Association (CVCA). They are willing to invest at least $200,000 in a qualifying start-up.
  2. Angel Investor Groups – These are angel investor groups that are members of the National Angel Capital Organization (NACO) and are willing to invest at least $75,000 in a qualifying start-up.
  3. Business Incubators – These business incubators are members of the Canadian Association of Business Incubation (CABI) and focus on innovative and scalable businesses.
  4. Business Accelerators – These are business accelerators that focus on innovative and scalable businesses and have been approved by the Start-up Visa Program.
  5. Designated Organizations – These are designated organizations approved by the Start-up Visa Program, including venture capital funds, angel investor groups, and business incubators and accelerators.
  6. Provinces or Territories – Provinces or territories in Canada can also be designated organizations and endorse entrepreneurs who wish to start a business within their jurisdiction.

List of designated organizations

Here is a list of some of the designated organizations that support the start-up visa program:

  • MaRS Discovery District
  • Creative Destruction Lab
  • NextAI
  • Ryerson Futures Inc.
  • Invest Ottawa
  • Propel ICT
  • FounderFuel
  • BDC Venture Capital
  • Extreme Venture Partners
  • Vanedge Capital

Don't Hesitate
Get In Touch

Phone Icon 1

Call Us Today!
647-249-7976

REQUEST CONSULTATION
Immigrationway Flag PR

How to apply for a start-up visa

To apply for a start-up visa, foreign entrepreneurs must follow these steps:

  1. Secure a letter of support from a designated organization in Canada. It would help if you convinced them that your business idea is innovative, viable, and has the potential to create jobs and contribute to the Canadian economy.
  2. Complete the application for a start-up visa after checking the eligibility criteria and doing the needful to qualify.
  3. Apply along with all the required documents, including a business plan, financial statements, and the letter of support from the designated organization, to the appropriate IRCC office, along with the processing fee. You may also need to pay a biometrics fee and undergo biometric screening.
  4. Wait for the application to be processed. Processing times can vary, but it typically takes several months to process a Start-up Visa application.

You will receive a Confirmation of Permanent Residence (COPR) document if your application makes it through. In an unfortunate instance if your application is rejected, you may have the option to reapply.

What is the processing time for Canada's start-up visa?

The processing time for Canada’s Startup Visa can vary depending on the volume of applications received and the complexity of each application. According to the official website of Immigration, Refugees and Citizenship Canada (IRCC), the current processing time for a Startup Visa application is approximately 12 to 16 months. It’s always a good idea to check the IRCC website for the most up-to-date information on processing times, required documents and information for a smooth process.

Immigrationway Happy Business
Immigrationway Man Giving Documents

Let's make it happen!

The Canada Startup Visa program is a great opportunity for foreign entrepreneurs with innovative business ideas to start and grow their businesses in Canada. The program provides a pathway to permanent residency in Canada without requiring applicants to invest their funds or meet net worth or investment criteria. The program requires foreign entrepreneurs to secure the support of designated organizations in Canada that are approved to invest in or support startups. If you are a foreign entrepreneur with an innovative business idea, the Canada Startup Visa program may be the right choice for you. Contact us today to let us help you with your Canada Startup Visa. 

Our Latest Blogs

Visa Application Img
Blog

Navigating Post-Graduation Work Permit Expiry: Exploring Your Options in Express Entry

Candidates aspiring to study abroad list Canada as a sought-after destination. Students look forward to…
Scholarships Image
Blog

Scholarships and Grants for Incoming International Students in Canada

Many international students prefer to study in Canada due to its quality education, culture, and…
Canadian Woman Consular Officer Giving Passport Male Immigrant Work Visa Citizenship Visa Application Online Form Immigration Concept Visa Approval
Blog

How Does My Work Experience Affect My CRS Score?

As immigrants apply through the Express Entry system for Canadian immigration, it's crucial to understand…
VIEW ALL

Understand your Legal Right to be here

Fill out your information below to schedule a consultation!

  • This field is for validation purposes and should be left unchanged.

Reach Our Office location

icon address

OUR ADDRESS

110 Sheppard Ave E Suite #630 Toronto, ON M2N 6Y8
icon email

EMAIL ADDRESS

ronen@immigrationway.com
Icon phone

PHONE NUMBER

(647) 490-2033
icon fax

FAX NUMBER

(416) 229-0042

What Our Clients Say

“Remaining in Canada is not very easy as you need to a have legal status. Yet, things get easier when we dealt with Ronen as we believe and trust on his immigration advice. We indeed rely with him and his team and they are very helpful when it comes to paperwork. I still remain with my husband and my daughter here in Canada as i always get extension because of their team effort. Thank you so much and i would surely recommend Sir Ronen to anyone who wants to enter or remain in Canada.”

Cynthia Tajunio

“I have been a client of Ronen since I first came to Canada year 2008 and since then all of my application they handle were all successful and they brought my mom and currently doing my dad’s application, and also my Permanent Resident visa was APPROVED!
I’m greatful and happy at their services.
And they are afordable also…
God bless you more Sir Ronen, your family and your staff…”

Bryan Rana

“Ronen and his team is great at what they are doing. They are very helpful on all my family’s immigration applications. I am on of their clients who continuously seek their services because they keep on proving the quality of service they render. I am proud to say that we got positive results on all our applications and now i am entrusting another application that will give us the opportunity to remain in Canada for good and i believe in them. Your team always give us hope and a better opportunity on fulfilling our dream to be one of your many successful applicants who are now enjoying the perks of living in Canada. More power and success!”

Joseph Tagayun

“Law Office of Ronen Kurzfeld is one of the most reliable immigration law firms that offers an excellent service to each of their clients. My family is very fortunate that we have experienced such kind of a quality service when my husband seek their professional assistance for his PR application. We were being guided and assisted all through out the process and we could easily approach any of the staffs especially Mr. Ronen. The team are equipped with technical know-how, very professional and organized yet very easy to deal with. We were given a timely feedback and various options to consider and our concerns were addressed properly. Their transparency, resiliency and immigration advice were the key to our successful application. We indeed highly recommend their firm to those who wish to apply as they could be your gateway to Canada.”

Joan Castro

Our Service Areas

Immigration Lawyer Toronto

Call: 647-249-7976

Toll Free: 1(855)999-0224

REQUEST CONSULTATION