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:
| Number of family members | Funds required (in Canadian dollars) |
|---|---|
| 1 |
$13,310 |
| 2 |
$16,570 |
| 3 |
$20,371 |
| 4 |
$24,733 |
| 5 |
$28,052 |
| 6 |
$31,638 |
| 7 |
$35,224 |
| For each additional family member |
$3,586 |
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.
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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.