Immigrate to Canada on Start-Up Visa in 2023
Do you have an innovative business idea in mind, then you may qualify to immigrate to Canada via Canada Start up Visa Program.
Canada is always on a lookout for talented entrepreneurs who are interested in moving to Canada and setting up their businesses to further support the Canadian economy.
Through a Canada Start up Visa Program, the country gives immigrant entrepreneurs an opportunity to immigrate to Canada and establish their new businesses. To qualify, they must prove that their business idea is innovative and will create jobs for Canadians.
How to become eligible for Canada Start up Visa Program?
In order to be eligible for Canada Start up Visa Program, you must meet the mandatory eligibility requirements along with admissibility criteria.
Following are the four key eligibility requirements:
- You must have a qualifying business
- You must get a letter of support from any one of the designated organization
- You must meet the language requirements and score at least CLB 5 in English or French language test
- You must have enough settlement funds
What is a qualifying business for Canada Start Up Visa?
In Canada, a qualifying business means that your business must meets the key conditions, including:
- While getting an investment support commitment from an approved designated organization,
- Each applicant must hold at least 10% of the voting rights attached to all shares of the corporation outstanding (maximum of 5 people can apply as owners), and
- applicants and the designated organization must hold over 50% of the total voting rights jointly attached to all shares of the corporation outstanding
- Once an applicant receives permanent residence of Canada
- they manage active and ongoing business from within Canada
- an important part of the business operations must happen in Canada
- their business must be incorporated in Canada
Designated organizations for Canada startup visa
Designated organizations are business groups approved by Canada for investing in or supporting a start-up via Start up visa program. In order to apply for Canada Start up Visa Program, your must get letter of support from one or more of the designated organizations.
To get a letter of support, you must contact the designated organization to find out the process and convince them that your business idea is worth supporting.
Following are the designated organizations:
- Venture capital funds
- Angel investor groups
- Business incubators
These organizations select which business proposals for reviewing and each one has its own set of requirements and process for proposals and evaluation. If an organization chooses to assess your business idea, it’ll evaluate the potential of your proposal and whether or not it’ll succeed.
Finally, once an organization decides to support your business idea, you'll get a Letter of Support.
Approved Designated Organizations for Canada Startup Visa
Venture capital funds
· You must get a minimum of $200,000 invest support from any one of these groups
Angel investor groups
· You must get a minimum of $75,000 investment support from any one of these groups
· You must be accepted into any one of these programs
· 7 Gate Ventures
· Arete Pacific Tech Ventures (VCC) Corp
· BCF Ventures
· BDC Venture Capital
· Celtic House Venture Partners
· Extreme Venture Partners LLP
· First Fund
· Golden Venture Partners Fund, LP
· iNovia Capital Inc.
· Intrinsic Venture Capital
· Lumira Ventures
· Nova Scotia Innovation Corporation (o/a Innovacorp)
· PRIVEQ Capital Funds
· Real Ventures
· Red Leaf Capital Corp
· Relay Ventures
· ScaleUp Venture Partners, Inc.
· Tangentia Ventures
· Top Renergy Inc.
· Vanedge Capital Limited Partnership
· Version One Ventures
· WhiteHaven Venture
· Westcap Management Ltd.
· Yaletown Venture Partners Inc.
· York Entrepreneurship Development Institute (YEDI) VC Fund
· Canadian International Angel Investors
· Ekagrata Inc.
· Golden Triangle Angel Network
· Keiretsu Forum Canada
· Oak Mason Investments Inc.
· TenX Angel Investors Inc.
· VANTEC Angel Network Inc.
· York Angel Investors Inc.
· Alacrity Foundation
· Alberta Agriculture and Forestry
· Agrivalue Processing Business Incubator
· Food Processing Development Centre
· Alberta IoT Association
· Biomedical Commercialization Canada Inc. (operating as Manitoba Technology Accelerator)
· Brilliant Catalyst
· Creative Destruction Lab
· DMZ Ventures
· Empowered Startups Ltd.
· Extreme Innovations
· Genesis Centre
· Highline BETA Inc.
· Innovation Cluster - Peterborough and the Kawarthas
· Innovation Factory
· Interactive Niagara Media Cluster o/a Innovate Niagara
· Invest Ottawa
· Knowledge Park o/a Planet Hatch
· LatAm Startups
· Launch Academy - Vancouver
· LaunchPad PEI Inc.
· Millworks Centre for Entrepreneurship
· NEXT Canada
· North Forge East Ltd.
· North Forge Technology Exchange
· Pacific Technology Ventures
· Platform Calgary
· Pycap Inc (o/a Pycap Venture Partners)
· Real Investment Fund III L.P. o/a FounderFuel
· Roseview Global Incubator
· Spark Commercialization and Innovation Centre
· Spring Activator
· The DMZ at Ryerson University
· Think8 Global Institute
· Toronto Business Development Centre (TBDC)
· TSRV Canada Inc. (operating as Techstars Canada)
· University of Toronto Entrepreneurship Hatchery
· Waterloo Accelerator Centre
· York Entrepreneurship Development Institute
If you are an investor or a businessman, Visas Avenue can assist you immigrate to Canada in 2023 via Canada Start Up Visa Program. Just fill out our free assessment form online for business immigration and one of our associates will contact you for further discussion about your options.