Start Up Visa Qualifications

Posted in Start-up Visa

The Start Up Visa facilitates young entrepreneurs with viable business plans obtain their permanent resident status in Canada by investing in a new business concept. However, there are other basic qualifications that you should consider before applying.

To be eligible to receive a start-up visa, you must:

· Prove your business venture or idea is supported by a designated organization (angel or venture capital)

· Before you apply for the start-up visa, you must convince a designated organization to support your business idea. If the designated organization supports your business idea, it will give you a Letter of Support.

· You must include your Letter of Support with your application as proof that a designated organization supports your business idea.

· If you do not have a Letter of Support from a designated organization or do not meet any of the eligibility requirements below, your application will be refused.

Meet the Language Requirements

Being able to communicate and work in English, French or both will help your business in Canada as well as your adaptability into Canadian society and the Canadian labour market.

You must prove your ability in English or French in these four areas:

  • speaking
  • reading
  • listening
  • writing

You must meet the minimum level of Canadian Language Benchmark (CLB) 5 in either English or French for all four language abilities.

If you do not meet the minimum language skills, CIC will refuse your application outright.

You must take a language test from an agency approved by CIC and include the results when you apply. If you do not, we will not process your application and we will return your fees.

Meet the Education Requirements

You must provide proof of your education with your application. To accomplish this you will need to demonstrate:

· proof of having completed at least one year of post-secondary education

· proof that you were in good standing during at least one year while you were attending a post‑secondary institution

Your proof of education may be in the form of transcripts and a letter of good standing, or certificate or diploma or degree.

Have sufficient settlement funds

The Government of Canada does not provide financial support to new Start-up business visa immigrants. It is part of the requirement of the application to first obtain your own financial backing as mentioned above.

You must show that you have enough money to support yourself and your dependants after you arrive in Canada. You cannot borrow this money from another person. You must be able to use this money to support the costs of living for your family and therefore must be considered unencumbered funds.

You will need to provide proof of your funds when you submit your application for immigration.

The amount of money you need depends on the size of your family. See the table below to determine the amount of financial backing you will need.

Number of
Family Members

Funds Required
(in Canadian dollars)

1

$11,115

2

$13,837

3

$17,011

4

$20,654

5

$23,425

6

$26,419

7 or more

$29,414

Tags: Canadian Permanent Residence Canadian Immigration Business Immigration Start-up Visa

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