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Canada’s Start-Up Visa: Eligibility Requirements 2024

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Are you an entrepreneur looking to move abroad? Find out  if you are eligible for Canada’s Startup Visa

Canada’s Start-Up Visa (SUV) program offers a pathway for global entrepreneurs with innovative business ideas to establish themselves in Canada’s thriving business landscape. Here’s a comprehensive guide to help entrepreneurs understand the eligibility requirements for the Start-Up Visa program.

Canada Startup Visa Qualifying Requirements

While Express Entry, Provincial Nominee Programs, and Federal Skilled Worker Programs have certain limitations, there is another pathway that you may want to consider: the Start-Up Visa Program. If you are an entrepreneur and interested in applying for Canada’s Start-Up Visa program, you should check out the program’s requirements to see if you qualify.

Business Incorporation in Canada: The qualifying business must be willing to incorporate in Canada, emphasizing its commitment to the Canadian economy and market.

Obtaining Support from Designated Immigration Organizations: Entrepreneurs MUST secure a letter of support from a designated organization approved to invest in or support/ incubate potential Start-Ups, Like Spring! We are your go-to IRCC-designated business incubator. By joining one of our upcoming cohorts, you may qualify for the Canadian Government Start-Up Visa Program.

Here’s how to proceed:

Language Proficiency Requirements for Start-up Visa Applicants

Proficiency in English, French, or both languages is essential for effective communication and business operations in Canada. Applicants must meet the minimum language requirements assessed by a designated language test agency. The Canadian Language Benchmark (CLB) 5 level is the minimum requirement in speaking, reading, listening, and writing.

Financial Requirements for the Start-up Visa Program

The Canadian government does not provide financial support to new Start-Up Visa immigrants. Applicants must demonstrate sufficient funds to support themselves and their dependents after arriving in Canada. The required funds vary based on the size of the family and are updated annually by the authorities. Check out the current requirements for funds here.

Startup Ownership Structure: At least one applicant must hold 10% or more of the voting rights attached to all corporation shares when receiving a commitment from a designated organization. Additionally, applicants and the designated organization must jointly hold more than 50% of the total voting rights attached to all corporation shares at that time.

Want to immigrate to Canada with the Spring’s Impact Startup Visa Program? Here’s everything you need to know about the program.

Get our ISV Entrepreneur Kit with the answers to all of your questions. If you’re interested in joining the next cohort, click here.

For more information or any other questions, feel free to email us at