Canada Startup Visa for Entrepreneurs- Your Pathway to Canadian Permanent Residency

Posted on April 8, 2022

Commonly known as SUV, Canada’s Start Up Visa Program offers a permanent pathway to qualified entrepreneurs. If you have an innovative business idea backed by years of experience in entrepreneurship, the Canada startup visa program will make an ideal option for you. The Canadian government is always on a hunt for experienced entrepreneurs who wish to start their businesses in Canada and create more job opportunities for Canadians.

What are the benefits of startup visa Canada?

Canada startup visa program comes with plenty of benefits to offer, like:

You can immigrate to Canada permanently with your family.
You get a right to live and set up your business anywhere in Canada.
You need just a unique, innovative business idea to get started.
You don’t need any minimum education qualification to qualify.
You don’t need to invest your funds.
You don’t need to meet any minimum net worth threshold.
You’ll get a work permit (temporary) in Canada to build your business while your startup visa application is under processing.

How to qualify for the Canada start-up visa program?

To qualify for the Start-up Visa, you must meet all four eligibility criteria along with Canada’s admissibility requirements.

To be eligible, you must:

Have a qualifying business, which means the company you have created must meet the following criteria:

At the time you get a commitment from a designated organization:
- each candidate holds 10% or higher voting rights attached to all shares of the corporation outstanding during that time (maximum 5 persons can apply as owners)

and

- candidates and the designated organization hold more than 50% of the total voting rights jointly attached to all shares of the corporation outstanding during that time
At the time of receiving permanent residence:
- candidates must provide active and ongoing business management from within Canada
- an essential part of the business operations happens in Canada
- the business is solely incorporated in Canada

Get a support letter from a designated organization, i.e., a business group approved to support and invest in possible start-ups. It’s proof that the angel investor group, venture capital fund, or business incubator is ready to help the business idea.

To get a support letter, the candidate must:

- Contact the organization to convince them to have an innovative business idea worth supporting. The pitching process is different for a different organization. For instance, you may have to submit a business concept personally or submit a detailed business plan.
- Once candidates reach an agreement with the organization, they get a support letter.
- The organization will also issue a commitment certificate directly to the IRCC for assessing the application.

Meet the language requirements to prove the ability to communicate one of the official languages of Canada, i.e., English or French.

Candidate must take an approved language test and score at least Canadian Language Benchmark (CLB) 5 in English or French in all four language abilities:

speaking
reading
listening
writing

Bring sufficient settlement funds as the Canadian government doesn’t provide any financial support to immigrants under the startup visa program.

While applying, candidates must submit proof of having sufficient funds to support themselves and their dependents after they arrival in Canada.

The amount varies based on family size.

Number of family members	Fund requirement (CAD)
1	$13,213
2	$16,449
3	$20,222
4	$24,553
5	$27,847
6	$31,407
7	$34,967
For each additional family member	$3,560

Visas Avenue can guide you throughout the Canada startup visa program if you are interested in applying for Canada PR as an entrepreneur.

To begin with, you may fill out our free assessment form for Canadian business immigration in 2022, and one of our representatives will contact you soon.

Or, you may reach us for proper guidance on Toll-Free No. 78-18-000-777 or drop an email at info@visasavenue.com.