What is a Start-up Visa?

The application for a Start-up Visa usually takes 24 to 48 months, and fees start at $2,385 (as of October 2024). If successful, the applicant receives permanent residency and has three to six months to arrive in Canada to set up their business. 

Although this program has a high application success rate, there is a large backlog of applicants in the pipeline. In an effort to reduce wait times, the Government of Canada made changes to this program in April 2024, including priority processing for entrepreneurs whose start-up is supported by Canadian capital or a business incubator that belongs to Canada’s Tech Network. 

How does the Start-up Visa work?

To qualify for the Start-up Visa program, an applicant must:

1. Have a qualifying business that must—if the application is successful—be incorporated in Canada, actively managed from within Canada, and conduct essential business operations in Canada. 
2. Get a letter of support from a designated organization (such as a venture capital or angel investing firm) ready to fund and support your business idea. Designated organizations are independently managed and are free to decide which businesses to invest in, based on their own criteria and judgement.
3. Meet the English or French language requirements.
4. Bring enough money to Canada based on the number of family members that are part of the application. (Read about the minimum necessary income for immigration applications.)

Learn more about the Start-up Visa Program on the Government of Canada’s website.

Example: Amelia is a British entrepreneur with a successful U.K.-based software business. She sees growth opportunities in Canada and has approached several venture capital firms in Canada to fund her business idea. If one of these organizations decides to fund and support her business (and if she meets the other eligibility criteria), Amelia could apply for permanent residency in Canada under the Start-up Visa Program.

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Read more for newcomers: 

• What is a work permit?
  Foreign nationals need a work permit to work legally in Canada. Learn about the different types of work permits in the MoneySense Glossary.
• Common questions from newcomers about working in Canada
  What’s a SIN number? Can you work on a tourist visa? We answer these and other questions from newcomers to Canada.
• How to prepare your finances for coming to Canada
  Here’s an overview of what to know about personal finance and buying a home, including down payments, taxes and mortgages.
• Auto loans for newcomers—questions to ask when buying your first car in Canada​
  Buying your first car in Canada is like any other major purchase. Ask a lot of questions, not just about the vehicle but also the auto loan and more.
• Buying your first stocks in Canada
  Are you a newcomer who’s interested in investing? Here’s an introduction to financial securities in Canada, such as stocks and ETFs, and how to buy them.

About MoneySense Editors

MoneySense editors and journalists work closely with leading personal finance experts in Canada. Since 1999, our award-winning magazine has helped Canadians navigate money matters.

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