Start-Up Visa (SUV)

Innovate and Launch: Start-Up Visa Program

The Canada Start-Up Visa (SUV) is an immigration program that encourages the immigration of innovative entrepreneurs to Canada. The program aims to attract entrepreneurs who have the potential to create jobs, contribute to the Canadian economy, and become part of Canada’s innovation ecosystem.

The SUV program is unique in that it does not require applicants to have a minimum net worth or invest their own money. Instead, applicants must have a viable business idea that is supported by a designated organization, such as a venture capital fund, angel investor group, or business incubator. These organizations will provide support and funding to the applicant’s business idea.

Eligibility

To be eligible for the SUV program, applicants must meet certain requirements. These include:

• Must have a Qualifying business: Applicants must have an innovative business idea, can create jobs in Canada, and has the support of a designated organization.
  • You must own at least 10% of the voting rights tied to all of the company’s shares.
  • You and the designated organization must have at least 50% of the voting rights linked to all of the company’s shares.
• Must have a letter of support from a designated organization: Applicants must receive funding from designated organizations that are approved by the Canadian government. These designated organizations may include angel investor groups, venture capital funds, and business incubators. Applicants must receive a letter indicating the support of one of these designated organizations to apply under this program.
• Language proficiency: Applicants must be proficient in English or French, Canada’s two official languages. They must obtain Canadian Language Benchmark (CLB) 5 in either English or French in all four tested areas.
• Adequate settlement funds: Applicants must have enough money to support themselves and their family members for at least six months after they arrive in Canada.

Once an applicant’s business idea is supported by a designated organization, they can apply for a work permit under the SUV program. Successful applicants will receive a letter of support from the designated organization and will be able to apply for a work permit from Immigration, Refugees, and Citizenship Canada (IRCC). Once the work permit is issued, the applicant and their family members can move to Canada and begin working on their business idea.

After their business is established and successfully operating in Canada, the SUV program provides a pathway to permanent residency. To be eligible for permanent residency, the applicant’s business must be actively operating in Canada and meet certain revenue targets. By encouraging the immigration of innovative entrepreneurs, Canada is able to attract new businesses, create jobs, and strengthen its economy.