Start-up Visa Program
Statutory definition
The Start-up Visa Program is prescribed in IRPR rr 98.01–98.18. Applicants must receive a Letter of Support from a designated organisation (venture capital fund, angel investor group, or business incubator) and meet language requirements (CLB 5 minimum in all four skills) and settlement funds requirements.
Explanation
The Start-up Visa is a permanent residence pathway for international entrepreneurs. Unlike most other economic immigration programs, it does not require existing significant assets or prior business success — the emphasis is on the innovation and commercial potential of the proposed business.
The business must be incorporated in Canada, the applicant must hold at least 10% of voting rights, and the designated organisation must hold at least 10% of voting rights. Up to five founders may apply jointly.
How this term is used
Processing times for the Start-up Visa program have been significantly longer than the stated standards in recent years due to demand. Applicants may apply for a temporary work permit while waiting for permanent residence to be processed, allowing them to establish the business during the processing period.