Start-up Visa Program
Statutory definition
IRPR s 98.01 defines the Start-up Business Class. Requirements include: a commitment certificate from a designated organisation (venture capital fund — minimum $200,000; angel investor group — minimum $75,000; business incubator — acceptance into the program); meeting the language requirement (CLB 5 in all four abilities); meeting the educational requirement; and having sufficient settlement funds. The qualifying business must be incorporated in Canada with the principal operations in Canada.
Explanation
The Start-up Visa is designed for high-growth startup entrepreneurs who can attract support from the Canadian innovation ecosystem. The commitment certificate from a designated organisation is the pivotal requirement — without it, no application can be made. Designated organisations vet the business concept, team, and scalability before issuing a commitment. Up to 5 persons can apply based on a single business, provided each holds at least 10% of the voting rights and collectively hold over 50%.