Start-up Visa Program: A Complete SUV Guide For 2024 -

About The Canada Start-up Visa Program

The Canadian Start-up Visa program aims to attract talented entrepreneurs to settle and develop their businesses in the country.

This program is especially suitable for those with innovative business ideas that can provide economic benefits and create job opportunities for Canadian citizens.

Additionally, the investor's spouse and children under 22 years old will also be granted accompanying visas.

Time to Residency

5 years

Minimum Investment

No requirements

Type of Investment

Starting a startup in Canada

Visa-free Countries

Freedom to travel to 187 countries and territories.

Benefits of the Canadian Start-up Visa

The whole family will receive permanent residency.
Enjoy all the rights and benefits of Canadian citizens.
The family can freely live, work, and study anywhere in Canada.
Receive healthcare, social security, and education benefits like Canadian citizens.
The investor's children have the opportunity to attend public schools for free up to high school and continue their university education at domestic tuition rates, which are much lower than those for international students.
The family has the opportunity to apply for Canadian citizenship once they meet all the necessary requirements.

Advantages of the Canadian Start-up Visa

Obtain permanent residency immediately without needing to go through a temporary residency phase.
No requirement for the investor to own a business beforehand.
While management or investment experience is a significant advantage, it is not a mandatory requirement for participation.
No minimum net worth requirement.
No age restrictions for applicants.

Conditions for the Canadian Start-up Visa

Applicants must meet the following requirements:

Applicant Requirements

Proficiency in English, approximately IELTS 5.0 (General)
Possess an innovative business idea that can be further developed to meet the program’s criteria, or have relevant work or business experience related to an idea that a start-up team is developing (applicants will be evaluated and connected).
Demonstrate financial capability to support themselves and their family upon arrival in Canada (e.g., 27,297 CAD for a family of 4).
Meet security and health background requirements.

Establishing a start-up company in Canada must meet the following conditions:

Obtain sponsorship from one of the organizations designated by the Canadian government.
The applicant and the sponsoring organization must collectively hold at least 50% of the voting rights in the start-up company.
Actively and continuously participate in the development of the idea and implementation of the start-up business plan, even while still in Vietnam, with guidance from support entities.
The business operations of the start-up must be primarily conducted in Canada.

The process for obtaining a Start-up Visa for Canada

Step 1: Consultation and initial evaluation of the application.
Step 2: Sign the official service contract and begin the process of preparing the application. At the same time, develop the start-up idea to ensure its feasibility and potential.
Step 3: Participate in interviews and training with one of the designated organizations, such as venture capital funds, angel investors, or business incubators.
Step 4: After receiving approval from the designated organization, obtain a Letter of Support (a mandatory document for the permanent residence visa application). Complete the application and submit it for permanent residence under the Start-up Visa program. Depending on the case, applicants may also apply for a Work Permit simultaneously.
Step 5: Continue to implement the start-up plan under the guidance of the designated organization and support team. (Perform online from Vietnam or in-person in Canada for those who have applied for a Work Permit.)
Step 6: Once the permanent residence application is approved, officially become a permanent resident of Canada.

Documents required for the Canada Start-up Visa application

Personal Identification Documents:

A copy of the passport pages containing personal information
Visa of the current country/territory of residence
02 portrait photo 5 x 7 cm, taken within the last 6 months
Birth certificate
Legal documents showing any changes to name/date of birth (if applicable)
Marriage certificate (if applicable)
Divorce decree (if applicable)
IMM5409 form (if in a common-law relationship) and proof of having lived together for at least 12 consecutive months, including: bank statements in both names; lease agreement; bills and other documents showing both names
Death certificate of spouse (if widowed)
National ID or Citizen ID
Household registration (all pages with information)
Criminal record certificate

Business Documents:

Business license, company registration certificate.
Description of business activities, organizational chart, floor plan images.
Annual proof of investment contributions by the applicant to the business.
Evidence of executive authority and direct management of the company.

Financial Documents:

Bank account balance statement, or
Savings book with a balance confirmation, or
Term deposit/No-term deposit account statement

Language Proficiency Documents: English: CELPIP, IELTS or French: TEF, TCF

Documents from the designated startup support organization in Canada: Support letter (original)

Documents for children (if applicable)

(In specific cases, additional documents or evidence related to verifying information may be required for the review process.)

Visa Fees

2.075 CAD: Application including processing fee and permanent residence
1.575 CAD: Application excluding permanent residence
1.325 CAD: Application including spouse (including permanent residence)
825 CAD: Application including spouse (excluding permanent residence)
225 CAD: Application including dependent children

Biometrics Fees

85 CAD: Biometrics fee for 1 person
170 CAD: Biometrics fee for a family of 2 or more

Additional fees may include: medical examination, police clearance, language tests,..

Processing Time for Canada Start-up Visa

The processing time for a Canada Start-up Visa application typically ranges from 5 to 7 business days, starting from when all required documents are received from the applican.

For biometrics appointments, the processing time will depend on the availability of slots at the Canada Visa Application Centre (CVAC).

After completing the biometrics process, the visa processing time at the consulate usually extends from 12 to 16 months.

(Note: The processing time may vary, being faster or slower depending on individual cases.)

Holding a Canada Start-up Visa with Quoc Tich Thu Hai

Quoc Tich Thu Hai provides comprehensive consulting services for international entrepreneurs wishing to settle and start a business in Canada through the Start-up Visa program. We have the legal authority to manage clients' applications from the initial stage until they become Canadian citizens and receive a Canadian passport.

With a team of experienced immigration experts and leading professionals in business, technology, and innovation, Quoc Tich Thu Hai is committed to supporting you in completing your start-up project and ensuring permanent residency for your entire family. We assist entrepreneurs in developing and refining their business ideas to attract investors, train essential skills such as pitching and business management, and collaborate with the YEDI Investment Fund to secure funding and operate businesses successfully in Canada.

Our team of immigration experts, certified by ICCRC, will ensure that the processing of your application is swift and accurate. Additionally, Quoc Tich Thu Hai helps your family settle smoothly in Canada, ensuring a successful transition to your new home. Contact Quoc Tich Thu Hai for the most dedicated consultation and support.

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Start-up Visa Program: A Complete SUV Guide For 2024