Canada’s Start-Up Visa Program

Unlock Your Entrepreneurial Potential with Canada’s Start-Up Visa Program

At The Black Bear Canadian Immigration Services, we recognize the aspirations of immigrant entrepreneurs eager to establish their businesses in Canada. The Start-Up Visa Program is your gateway to permanent residency, offering a unique opportunity to create a thriving enterprise while receiving essential support from Canada’s private sector.

Eligibility Criteria

To qualify for the Start-Up Visa Program, applicants must meet several key requirements:

• Language Proficiency: Attain a minimum Canadian Language Benchmark (CLB) of 5 in either English or French.
• Financial Capability: Demonstrate sufficient funds to support your settlement in Canada.
• Location Intent: Plan to establish your business in a province outside of Quebec.
• Clearances: Successfully pass Canadian security and medical assessments.
• Business Support: Provide proof of endorsement from a designated organization.
• Ownership Compliance: Meet specific ownership criteria for your business venture.
• Important Note: A maximum of five foreign nationals can apply as part of the same business venture.

Investment Requirements

To support your entrepreneurial journey, you must secure a minimum investment from a designated organization:

• Venture Capital Fund: A minimum investment of $200,000.
• Angel Investor Group: A minimum investment of $75,000.
• Business Incubator: No monetary investment required, but acceptance into a recognized incubator program is mandatory.

What’s more, you won’t need to invest your own funds. Even if your start-up faces challenges, you will retain your permanent resident status.

Commitment Evidence

To demonstrate your support from a designated organization, you must submit a Commitment Certificate to Immigration, Refugees and Citizenship Canada (IRCC). This document details your agreement with the investor organization. Additionally, you will receive a Letter of Support, which is critical for your permanent residence application.

Essential Persons: In cases with multiple applicants, the commitment may depend on certain individuals—referred to as “essential persons.” If one essential person’s application is declined, it could affect the applications of all linked individuals.

Support from Multiple Organizations

You can enhance your prospects by securing support from several designated organizations, known as syndication. In this case, all participating entities must be named, and they will collectively provide a single Commitment Certificate and a unified Letter of Support for your application.

Ensuring Integrity through Peer Review

To maintain the integrity of the program, a peer review process verifies that agreements between investment organizations and entrepreneurs are legitimate. Immigration officers may seek independent evaluations from specialized peer review panels, which are associated with industry organizations, including:

National Angel Capital Organization for angel investor groups.

Canada’s Venture Capital and Private Equity Association for venture capital funds.

The peer review assesses:

• The incorporation status of the business in Canada.
• Verification of ownership as per program guidelines.
• Evaluation of the business model’s viability.
• Focus on high-growth potential products or services.
• Confirmation of acceptance into an incubator program for applicants.

This process assists immigration officers in their decision-making but does not dictate the outcome.

By leveraging the Start-Up Visa Program, you can turn your entrepreneurial vision into reality. At The Black Bear Canadian Immigration Services, we’re here to guide you every step of the way. Contact us today to embark on your Canadian business journey!