The Canadian government is embracing start-up businesses as part of its initiative to expand and support its growing economy. This type of business visa allows entrepreneurs and their family members to immigrate to Canada and receive permanent residence status. It also requires the sponsorship of a designated entity, which will set up the necessary funds for the business.

This visa automatically grants the business owner and their family members permanent residence, and they can become eligible for Canadian citizenship after 3 years.

The Program’s Eligibility Requirements

To be eligible for this business visa, the applicant must meet the following requirements:

• Have a qualifying business where they have more than 10% of the total voting rights. With the designated entity, they must have over 50% of the total voting rights combined.
• Receive a commitment from a designated entity, such as an angel investor, venture capital fund, or business incubator. The minimum investment amount for an angel investor is $75,000, whereas a venture capital fund’s minimum investment amount is $200,000.
• A minimum of level 5 on their language proficiency test at an approved agency in reading, writing, speaking, and listening in either English or French.
• Produce proof of sufficient funds as a guarantee that they will be able to support themselves and their family’s move on a start-up visa.

A Few Words About The Process

Requests for this visa type usually take between 12-16 months, and they must be handed in online unless there are exceptional circumstances. Start-up business owners must provide the Canadian government with all of the necessary documents, as well as a police clearance certificate and a medical exam report. Depending on the type of business, they may be required to provide additional documents.