Start Up Visa
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Start Up Visa
The Start-Up Visa Program was introduced by ministerial instruction in April 2013 as a pilot project. The Start-Up Visa program grants Canadian permanent residence to qualified immigrant entrepreneurs. The program aims to recruit innovative entrepreneurs to Canada and link them with Canadian private sector businesses (angel investor groups, venture capital funds, or business incubators) and facilitate the establishment of their start-up businesses in Canada. Successful candidates will receive a letter of support from a government-designated entity (angel investor group, venture capital fund, or business incubator). The government-designated entity is primarily responsible for determining the viability of the applicant’s intended business and presenting an approved project along with a Commitment Certificate to immigration authorities. Applications are assessed on a pass-fail basis.
Eligibility Criteria
To be eligible, you must have:
- A Commitment of Support from A Designated Canadian Venture Capital Fund, Business Incubator, or Angel Investor Group.
- Ability To Communicate in Either French or English.
- Completed At Least One Year of Study at A Post-Secondary Institution.
- Adequate Amount of Money in Order to Settle and Provide for The Cost of Living Prior To Earning an Income and
- Passed Canadian Security and Medical Clearances
Required Commitment from a Designated Entity
The required commitment from a designated entity must meet the following criteria:
- A Designated Angel Investor Group Must Confirm That It Is Investing At Least $75,000 CAD Into the Qualifying Business or Two Or More Commitments from Designated Angel Investor Groups Totaling $75,000 CAD; OR
- A Designated Venture Capital Fund Must Confirm That It Is Investing At Least $200,000 CAD Into the Qualifying Business or Two Or More Commitments from Designated Venture Capital Funds Totaling $200,000 CAD; OR
- A Designated Business Incubator Must Confirm That It Is Accepting the Applicant into Its Business Incubator Program.
In order to qualify
In order to qualify, the intended business must be incorporated and carrying on business in Canada at the time the commitment is made and:
Up to five applicants may have their application for permanent residence supported by the same business investment. However, certain applicants may be designated as essential to the intended business. If any of the essential applicants withdraw their application or are refused for other reasons, all other applicants under the same business investment will see their applications terminated.
Applicants who have secured a Commitment Certificate from a designated entity, and who wish to begin working in the business during the processing of their permanent residence application may apply for a short-term work permit based on their Commitment Certificate if the designated entity supports such a request.
Canada’s Start-Up Visa program does not apply to applicants who intend to reside in the province of Quebec.
Designated venture capital funds
At the date of publication, designated entities that may support an application under the Start-Up Visa program are:
- BDC Venture Capital
- Blackberry Partners Fund II LP (Doing Business as Relay Ventures Fund II)
- Celtic House Venture Partners
- Celtic House Venture Partners Fund III LP
- Celtic House Venture Partners Fund IV LP
- DRI Capital Inc.
- Golden Opportunities Fund Inc.
- INovia Capital Inc.
- Lumira Capital
- MaRS Cleantech Fund L.P. I.
- New Brunswick Innovation Foundation Inc.
- OMERS Ventures Management Inc.
- Pangaea Ventures Fund III, LP
- PRIVEQ Capital Funds
- Real Ventures
- Rho Canada Ventures
- Rogers Venture Partners, LLC
- Summerhill Venture Partners Management Inc.
- Tandem Expansion Management Inc.
- Vanedge Capital Limited Partnership
- Version One Ventures
- Wellington Financial LP
- Westcap Mgt. Ltd.
- Canadian Accelerator Fund Ltd.
- Yaletown Venture Partners Inc.
