Canada’s Start-up Visa program is a federal permanent resident program that targets entrepreneurs with the skills and potential to build businesses in Canada that:
- are innovative;
- can create jobs for Canadians; and
- can compete on a global scale.
Summary of Qualification Requirement
1. Have a qualifying business that meets the following criteria:
At the time you get a commitment from a designated organization each applicant holds 10% or
more of the voting rights attached to all shares of the corporation outstanding at the time
and applicants and the designated organization jointly hold more than 50% of the voting rights
attached to all shares of the corporation outstanding at that time.
At the time you receive your permanent residence you provide active and ongoing management of
the business from within Canada, an essential part of the operations of the business happens in Canada
and the business is incorporated in Canada.
2. Get a letter of support from an organization designated by IRCC to invest in and/or
support qualifying businesses. Each organization has its own process and requirements for a letter of support.
3. Meet the language requirements of CLB 5 in English or French.
4. Bring enough funds to support yourself and your dependents after you arrive in Canada.
5. Must be in good health with no criminal background.
Each designated organization has its own process and criteria when applying for a letter of support. Generally, the steps are:
Initial proposal / pitch to designated organization.
Founders interview with designated organization selection team.
Preparation of business plan.
Formal application for letter of support.
Letter of support issued.
Application for permanent residency with the option to apply for work permit at the same time.
Continue to be actively involved in the development of the business.
As part of the process many organizations have an incubator or accelerator program either before and/or after the letter of support application.
Applicants can apply directly for permanent residence for themselves and their family (spouse and children under 22 years of age at the time of application submission).
Option to live and do business anywhere in Canada (except Quebec).
Up to 5 people can apply as owners of a qualifying business.
Option to apply for a work permit to come to Canada sooner (during PR processing) to begin business in Canada.
Pathway to Canadian citizenship.
Companies receive mentorship and programming from the designated organization to assist with the Canadian business.
BCI is proud to offer professional service packages includes but not limited on:
Initial review of business concept and founders by BCI to determine eligibility and chance of success.
Determine, with client input, the most suitable designated organization to apply for a letter of support.
Liaison with designated organization to determine their initial interest in the project.
Work with clients for interview preparation.
Business plan preparation assistance from a Canadian Chartered Professional Accountant (CPA) to ensure the quality of the business plan.
Review and assist in the preparation of the application and supporting documentation for submission with the designated organization.
Liaison with law firm for the required business incorporation.
Review immigration applications for any work and study permit applications and extensions for the same.
Review immigration applications for permanent residency.
Provide authorized representation to clients for the duration of the immigration process (to receipt of Permanent Residency).