The federal government reports that 200 Canada StartUp Visa Program candidates have been approved for Canada permanent residence since February 2018. The Canada Start-Up Visa Program is often called many acronyms that may refer to other programs, such as Canada business immigration visa and Canada investor visa. The Canada startup visa program also popularly called Canada startup visa incubator, was introduced in April 2013 as a five-year pilot project and made permanent on March 31, 2018. These 200 candidates have created 130 new businesses in Canada through the program.
StartUp Visas program grants Canadian permanent residence to qualified immigrant entrepreneurs. The program aims to recruit innovative entrepreneurs to Canada and link them with the Canadian private sector businesses, (angel investor groups, venture capital funds or business incubators) and facilitate the establishment of their start-up business in Canada.
Obtain a commitment from a designated entity in the form of a Commitment Certificate or Letter of Support;
Have sufficient unencumbered, available and transferable settlement funds;
Have completed at least one year of post-secondary education;
Demonstrate sufficient proficiency in English or French through standardized testing (Canadian Language Benchmark level 5).
Designated entity criteria:
A designated angel investor group must confirm that it is investing at least $75,000 into the qualifying business, or two or more commitments from designated angel investor groups totaling $75,000; OR
A designated venture capital fund must confirm that it is investing at least $200,000 into the qualifying business or two or more commitments from designated venture capital funds totaling $200,000; OR
A designated business incubator must confirm that it is accepting the applicant into its business incubator Program.
In order to qualify, the intended business must be incorporated and carrying on business in Canada at the time the commitment is made and:
The applicant owns a least 10% of the voting rights in the corporation; AND
No other person holds 50% or more of the total amount of voting rights in the corporation.
You may pre-qualify for a Canada immigration program.
Up to five applicants may have their application for permanent residence supported by the same business investment.
Applicants can apply for a short-term work permit on the basis of their Commitment Certificate if the designated entity supports such a request.
Approved Designated Venture Capital Funds:
BDC Venture Capital
Celtic House Venture Partners
Extreme Venture Partners LLP
Golden Venture Partners Fund, LP
Information Venture Partners Management Inc.
Innovation Platform Capital International LP
iNovia Capital Inc.
Nova Scotia Innovation Corporation (o/a Innovacorp)
OMERS Ventures Management Inc.
Pangaea Ventures Ltd.
PRIVEQ Capital Funds
ScaleUp Venture Partners Inc.
Top Renergy Inc.
Vanedge Capital Limited Partnership
Version One Ventures
Westcap Management Ltd.
Yaletown Venture Partners Inc.
Approved Designated Angel Investor Groups:
Canadian International Angel Investors
Golden Triangle Angel Network
Oak Mason Investments Inc.
Southwestern Ontario Angel Network
Southwestern Ontario Angel Group
TenX Angel Investors Inc.
York angel Investors Inc.
Approved Designated Business Incubators:
Alberta Agriculture and Forestry
Agrivalue Processing Business Incubator
Food Processing Development Centre
Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
Calgary Technologies Inc.
Creative Destruction Lab
Empowered Startups Ltd.
Highline BETA Inc.
Interactive Niagara Media Cluster o/a Innovate Niagara