The Start-Up Visa Program in Canada provides an opportunity for foreign-born entrepreneurs to obtain Canadian permanent residence. Also known as the Canada Start-Up Class or Start-Up Visa program (SUV), this initiative was initially introduced as a three-year pilot and was later made permanent on March 31, 2018.
The primary objective of this program is to attract innovative entrepreneur to Canada by connecting them with Canadian Designated Organizations. These organizations include angel investor groups, venture capital funds, and business incubators. They play a crucial role in assisting entrepreneurs in establishing their start-up businesses within Canada.
Overall, the Start-Up Visa Program aims to foster entrepreneurship and encourage the growth of innovative businesses in Canada. It offers a pathway for qualified foreign entrepreneurs to realize their business ideas and contribute to the country’s economic development.
STARTUP-VISA
Permanent Residency for up to 5 Founders and their families: The program allows a maximum of five founders and their immediate family members to obtain permanent residency in Canada. This means they can live and work in the country indefinitely.
Residency for spouse & dependent children up to the age of 22: The program extends the opportunity for the spouse and dependent children of entrepreneurs to become permanent residents of Canada. Children up to the age of 22 can be included in the application.
Low-band IELTS requirement: The program has a lower requirement for the International English Language Testing System (IELTS), making it accessible to a wider range of applicants. This requirement is set at a lower level, ensuring that language proficiency is not a significant barrier for eligible entrepreneurs.
Federal program – Ability to live in any province of Canada: Being a federal program, the Start-Up Visa Program enables entrepreneurs to choose and live inany province or territory of Canada. This flexibility allows them to explore various business opportunities and settle in the location of their choice.
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