What is startup visa?
A startup visa is a type of visa that is specifically designed for entrepreneurs who want to start a business in a foreign country. This type of visa typically allows the entrepreneur to live and work in the country for a specified period of time, during which they can develop their business idea and potentially even gain permanent residency. The specific requirements and conditions for a startup visa can vary depending on the country where the entrepreneur is seeking to establish their business.
Canada is unique. Canada provides Start-up Visa as a direct path to Permanent Residency
About the process in Canada
Canada’s Start-up Visa Program targets immigrant entrepreneurs with the skills and potential to build businesses in Canada that:
- are innovative
- can create jobs for Canadians
- can compete on a global scale
To apply for the Start-up Visa Program, your business idea or venture must get the support of one or more of the designated organizations listed below:
- Venture capital funds
- Angel investor groups
- Business incubators
Designated organizations are business groups that are approved to invest in or support possible start-ups through the Start-up Visa Program.
Organizations choose which business proposals to review. Each organization has its own intake process for proposals and criteria used to assess them. For example, you may be asked to present your business concept in person or submit a detailed business plan.
If an organization decides to review your business idea, it’ll assess the potential of your proposal and whether or not it’ll succeed.
If an organization chooses to support your business idea, it’ll give you a Letter of Support.
How can I qualify for the Start-up Visa Program?
To qualify for the Start-up Visa Program, you must meet all 4 eligibility requirements, as well as the admissibility requirements to enter Canada.
Eligibility requirements for the Start-up Visa Program
- have a qualifying business
- have a letter of support from a designated organization
- meet the language requirements, and
- have enough money to settle and live in Canada before you make money from your business