Are you an aspiring entrepreneur who dreams of obtaining permanent residency in Canada but keeps hearing contradicting information? Let’s clear up those misunderstandings and give you the expert advice you need for a successful journey with the Canada Start-Up Visa program.
The Canada Startup Visa Program, often called the SUV Program, is a unique immigration pathway explicitly designed for entrepreneurs who want to start a business in Canada. Successful applicants, including founders, co-founders, and immediate family members, can obtain permanent residency in Canada through the Start-Up Visa (SUV) program.
In this guide, we’ll help you understand the entire journey of your Canada Startup Visa application and provide insights into the IRCC’s nuanced approach to eligibility and credibility.
Here are the main reasons why the Startup Visa Program stands out among entrepreneurs:
You can apply for permanent residency outside Canada after obtaining the Letter of Support from the designated organization and meeting all eligibility criteria.
You can apply for permanent residency outside Canada after obtaining the Letter of Support from the designated organization and meeting all eligibility criteria.
The Startup Visa Program is a unique program that allows up to five co-founders to apply under a single business or investment.
There is no set lower limit on how much you and your co-founders need to invest in your startup to be eligible for the SUV program.
The SUV Program imposes no restrictions on where you can establish your business anywhere except Quebec in Canada.
Your spouse and dependent children can apply for permanent residency under the Startup Visa Program. Meanwhile, they can study and work in Canada.
The SUV program has some of the most relaxed eligibility criteria among Canadian immigration programs. Basic requirements include a minimum language score of CLB 5, a valid letter of support from a designated organization, and settlement funds.
The Startup Visa Program’s basic eligibility criteria are pretty straightforward. No specific requirements for education, work experience, or age limit exist, meaning most people can meet them. However, being eligible for the Startup Visa does not guarantee approval as it depends on deeper scrutiny by immigration officers. Here are the basic requirements for the SUV program:
The minimum funds required for different family sizes are shown below.
| Number of family members (in Canadian dollars) | Funds required |
|---|---|
| 1 | $14,690 |
| 2 | $18,288 |
| 3 | $22,483 |
| 4 | $27,297 |
| 5 | $30,690 |
| 6 | $34,917 |
| 7 | $38,875 |
| If more than 7 people, for each additional family member | $3,958 |
Meeting basic eligibility requirements is not sufficient for the SUV application to be approved. Immigration officers use internal criteria that are not publicly disclosed but play a significant role in the decision-making process which includes:
Once you’ve thoroughly understood the eligibility criteria, securing a Letter of Support is the next crucial step in obtaining a Startup Visa (SUV). However, merely obtaining or paying for it does not guarantee approval for permanent residency by the Canadian government. It includes a detailed description of your startup and the designated organization’s reasons for endorsing it. Additionally, it outlines the urgent need for the co-founders to come to Canada with a work permit before their permanent residencies are approved.
Designated organizations play a vital role in the Startup Visa program as they issue these letters of support to eligible applicants. These entities are typically categorized into three main groups:
Obtaining a Letter of Support from a designated organization is a crucial step in the Canada Startup Visa (SUV) program. Here are the steps for this process:
After securing a Letter of Support from a designated organization, your next step in the entrepreneurial journey is to apply for permanent residency in Canada through the Startup Visa (SUV) program. It involves gathering a set of additional documents, which will serve as the foundation of your application. Here are the steps to apply for permanent residency through the SUV Program.
Start by collecting all the required documents. These include:
Once your documents are in order, complete the required forms. Make sure to fill out each form wholly and accurately. Mistakes or omissions can delay the processing of your application or lead to its rejection. These forms include:
Important Note: Once you’ve submitted your application, you’ll get a receipt from IRCC. This will have an application number that you can use to check your application status online. If IRCC asks for more information or documents, make sure to respond quickly.
While waiting for your permanent residency (PR) application to be processed under the Canada Startup Visa (SUV) program, you can apply for a temporary work permit for 3 years. This permit allows you to come to Canada and start working on your startup immediately, providing a head start on establishing your business.
Applying for a work permit involves several key steps. First, you need to gather and prepare the necessary documents:
You can move to Canada with your co-founders and families if you receive a work permit. It helps faster integration and operational setup, as you can manage all aspects of your startup directly.
No, applying for a work permit while waiting for the PR decision on your SUV application is not mandatory. However, obtaining a work permit allows you to enter Canada and start working on your startup while processing your PR.
Building your startup in Canada while waiting for your permanent residency (PR) approval under the Startup Visa (SUV) program involves several strategic steps.
Upon approval of your PR application, you and your co-founders will receive confirmation of your permanent residency status.
Here are some frequently asked questions regarding Canada’s Start-Up visas:
Although no direct investment is needed, startup groups cannot avoid the designated organization fees (Angel investor, business incubator, or venture capital organization). Startup groups must pay their fees to cover the costs of implementing this startup program to obtain a letter of support from any of these organizations.
| Fee Type | Recipient | Amount (CAD) |
|---|---|---|
| Processing Fee | Principal Applicant | $1,810 |
| Right of Permanent Residence Fee | Principal Applicant | $575 |
| Processing Fee | Spouse/Partner | $950 |
| Right of Permanent Residence Fee | Spouse/Partner | $575 |
| Processing Fee | Dependent Child | $260 |
| Biometric Fee | Per Applicant | $85 |
| Biometric Fee for Family | 2 or more members | $170 |
Letter of Support Fees (LOS)
Note: Additional costs may include fees for joining startup groups and fees for services like business consulting or translation.
If your Startup Visa application is denied, the course of action depends on the reason for the refusal. Here are some general steps you can take:
No, if your business fails, it will not affect your or your family’s permanent resident status. Once you have PR, it is not contingent on the success of your startup.
The processing time for a Startup Visa application typically ranges from 37 to 42 months. However, you can apply for a temporary work permit to expedite your entry to Canada.
Yes, under the Startup Visa program, you can bring your immediate family members with you. They can also benefit from Canada’s healthcare and education systems, and your spouse or common-law partner can apply for an open work permit while waiting for the permanent residency decision.
If your application is delayed, you can check its status online through the IRCC portal. Maintaining communication with the designated organization supporting your application is also advisable, and consider seeking legal advice to address any complications.
To apply for a work permit under the Startup Visa program, you must demonstrate that your business will benefit Canada significantly. You need to submit proof of adequate personal funds, a detailed business plan, and evidence of support from a designated organization.
Incubators typically offer a range of support services, including mentorship, office space, access to funding, networking opportunities, and business development resources. They help startups refine their business models and accelerate their growth.
Immigrate to Canada by establishing an innovative start-up through the SUV Program Canada. Start your free assessment.
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