top of page
837.webp

Immigration via Investment and Start-Up Visas

Canada’s Start-Up Visa Program is a program designed to attract foreign entrepreneurs who wish to start a business in Canada. The program is intended to create jobs and promote economic growth in Canada by attracting talented entrepreneurs from around the world.

​

​

Under the Start-Up Visa Program, an eligible entrepreneur or startup can receive a letter of support from a designated Canadian venture capital fund, angel investor group, or business incubator. This letter of support is an essential requirement for a successful application.

image4558-2400x1348.webp

The program has helped many entrepreneurs establish successful businesses in Canada, contributing to the country’s economic growth and diversity. It is an excellent opportunity for innovative and talented entrepreneurs who wish to start a business in Canada.

 

Castlewell Canadian Immigration Services can connect you with the Designated Organizations that are authorized by the Canadian Government to assess potential investment opportunities and issue Letters of Support that form the basis of a Start-Up Visa Permanent Residence application. If you have a Start-Up idea that may attract investors or if you are looking to invest in a Start-Up company, contact us today!

​

Eligibility Requirements

​

To be eligible for the Start-Up Visa Program, the entrepreneur or startup must meet the following requirements:

​

1. Have a qualifying business:​

​

At the time you get a commitment from a designated organization, each applicant must hold 10% or more of the voting rights attached to all shares of the corporation outstanding at that time (up to 5 people can apply as owners) AND the applicants and the designated organization must jointly hold more than 50% of the total voting rights attached to all shares of the corporation outstanding at that time
 

​At the time you receive your permanent residence:
you provide active and ongoing management of this business from within Canada
an essential part of the operations of the business takes place in Canada
your business is incorporated in Canada


2. Secure a letter of support:The entrepreneur must secure a letter of support from a Designated Organization. These organizations are designated by the Canadian government and include venture capital funds, angel investor groups, and business incubators. Each organization has its own requirements. For example, you may be asked to present your business concept in person or submit a detailed business plan. If you reach an agreement with a designated organization, you will receive a Letter of Support. You need to include this letter with your application for Permanent Residence. This is the proof you need to show that the venture capital fund, angel investor group, or business incubator is supporting your business idea.

​

3. Meet language requirements:The entrepreneur must demonstrate proficiency in either English or French, Canada’s two official languages. This can be done by taking an approved language test and achieving a minimum score of Canadian Language Benchmark (CLB) 5 in all four language skills (reading, writing, listening, and speaking).

​

​

4. Have sufficient settlement funds: The entrepreneur must have sufficient funds to support themselves and their family members while establishing the business in Canada. The exact amount of funds required depends on the number of family members accompanying the entrepreneur and typically runs between CAD$13,000 and CAD$25,000.

​

​

5. Pass background checks and medical exams:The entrepreneur and their family members must undergo background checks and medical exams to ensure they are not inadmissible to Canada on security or health grounds.

​

Once approved for the program, the entrepreneur can apply for a Canadian work permit and can move to Canada to start and operate their business. The work permit is valid for one year and can be renewed if the entrepreneur continues to meet program requirements.

​

Once the business meets the program’s criteria, the entrepreneur can apply for permanent residency in Canada. The Start-Up Visa Program is a unique opportunity for innovative entrepreneurs to start and grow their business in Canada while also gaining permanent residency in the country.

agreement-2679506_1920.webp

Who is a strong candidate for the Start-Up Visa program?

​

In order to succeed in the Start-Up Visa Program, entrepreneurs should be ready to fulfill the following requirements:

​

  1. Ownership of an inventive or successful business that is generating sustainable and scalable revenue or has substantial market validation;

  2. Availability of sufficient capital to finance your start-up project, which is usually at least $200,000 per applicant;

  3. Possession of specialized knowledge or unique experience in your area of expertise, or having a strong managerial background;

  4. Having upper-intermediate proficiency in either English or French language, or both.

​

​The Start-Up Visa Program may not be the suitable option for foreign entrepreneurs with restricted capital to invest in their start-up project in Canada. Obtaining a letter of support or investment commitment from one of the Designated Organizations in Canada is one of the key prerequisites for the Start-Up Visa Program. However, if you (or your company) do not possess enough capital to invest in your venture, the chances of obtaining support from a Designated Organization are low.

​

Although the Start-Up Visa Program is promoted as a program that requires no minimum investment, it is essential for your venture to be sufficiently capitalized to receive support from the Designated Organizations. It would be unrealistic to assume that Venture Capital firms or Angel Investors in Canada would invest in your venture and provide you with seed capital simply because you have a brilliant idea. This is usually not the case since VCs and Angel Investors typically seek outstanding companies that have a history of success and revenue before investing any funds.

​

Therefore, if you are an entrepreneur with a great product or service, but have limited capital to expand your venture (less than $200,000), the Start-Up Visa Program may not be the ideal option for you.

iStock_000013787704Medium-1024x682-1.webp

Benefits of Immigrating to Canada via the Start-Up Visa Program and Investment

​

Canada’s Start-Up Visa Program offers several benefits to entrepreneurs who are looking to establish a business in Canada. Here are some of the key benefits of the program:

​

  1. Access to a stable economy: Canada is a safe and beautiful country with a stable economy and a business-friendly environment, making it an attractive destination for entrepreneurs looking to start or expand their business.

  2. Support from designated organizations: The Start-Up Visa Program requires entrepreneurs to secure a letter of support from a Designated Organization, such as a venture capital fund, angel investor group, or business incubator. These organizations can provide valuable support, advice, and connections to help entrepreneurs establish and grow their business in Canada.

  3. Pathway to Permanent Residency and Citizenship: The Start-Up Visa Program is a pathway to permanent residency in Canada, which can in turn lead to Canadian citizenship. This offers entrepreneurs and their families the opportunity to establish roots in Canada and enjoy the benefits of Canadian citizenship, such as access to world class healthcare and education and visa-free travel to 184 countries.

  4. Low investment requirement: Unlike many other business immigration programs, the Start-Up Visa Program does not have a minimum investment requirement. Instead, the program focuses on the potential for high growth and job creation, allowing entrepreneurs to focus on developing innovative businesses without being burdened by high investment requirements. However, entrepreneurs can expect to pay between CAD$10K-50K to pay to Designated Organizations (administrative fees for the Letter of Support) in addition to the above-mentioned investment in the business of around $200,000. Still, when compared to many other global investment immigration programs, such as the U.S.’s EB-5 program which requires a minimum investment of USD $800,000, Canada’s Start-Up visa is an extremely competitive option.

  5. Fast processing times: The Canadian government prioritizes the processing of Start-Up Visa applications, with an average processing time of just 12 to 16 months. This allows entrepreneurs to quickly establish their business and start contributing to the Canada’s economy.

  6. Business-friendly environment: Canada offers a business-friendly environment with a low corporate tax rate, strong intellectual property protections, and a supportive ecosystem for entrepreneurship.

  7. Access to talent: Canada has a highly educated and skilled workforce with many universities and colleges offering specialized training in technology, engineering, and other fields. Additionally, the country has a robust immigration system that allows businesses to hire skilled workers from around the world.

  8. Quality of life: Canada is consistently ranked as one of the best countries to live in, with a high standard of living, excellent healthcare, and a strong social safety net.

  9. Government support: The Canadian government offers a range of programs and incentives to support entrepreneurs, including tax credits, grants, and loans.

  10. Innovation ecosystem: Canada has a thriving innovation ecosystem with many incubators, accelerators, and research centers that support the development of new technologies and ideas.

  11. Access to global markets: Canada has strong trade relationships with many countries around the world, providing businesses with access to global markets and opportunities for growth.

business-3324394-2400x1356.webp

How to get a Letter of Support from a Designated Organization

​

To get a Letter of Support for Canada’s Start-Up Visa Program, entrepreneurs must follow these steps:

​

  1. Develop a business idea: The first step is to develop a business idea that is innovative and has the potential for high growth and job creation in Canada. Entrepreneurs should also have a clear understanding of the market, competitors, and potential customers.

  2. Pitch to designated organizations: Once entrepreneurs have developed their business idea, they should pitch it to designated organizations, such as venture capital funds, angel investor groups, or business incubators. These organizations will evaluate the business idea and its potential for success and may provide feedback and support to help entrepreneurs refine their pitch.

  3. Receive a Letter of Support: If the Designated Organization is interested in supporting the business idea, they will issue a Letter of Support to the entrepreneur. The Letter of Support must be submitted with the entrepreneur’s Start-Up Visa application. It confirms that the designated organization is committed to supporting the entrepreneur’s business in Canada.

  4. Apply for a Start-Up Visa: With the Letter of Support, entrepreneurs can apply for a Start-Up Visa. The application will be evaluated based on a number of factors, including the business idea, the entrepreneur’s qualifications, and the designated organization’s support.

  5. Obtain a work permit: If the Start-Up Visa application is approved, the entrepreneur will receive a letter of introduction from the Canadian government, which they can use to apply for a work permit. Once the work permit is obtained, the entrepreneur and their family can move to Canada and begin building their business.

Frequently Asked Questions

  • Are you regulated professional immigration consultants?
    Yes. You can verify that our consultants are registered members of the College of Immigration and Citizenship Consultants (CICC – the governing body that regulates Immigration Consultants in Canada) by going to the CICC website (https://college-ic.ca/protecting-the-public/find-an-immigration-consultant) and searching for the company name ‘Castlewell’.
  • Why do you charge a fee for consultations?
    Consultations often involve a significant amount of correspondence, including meetings, calls, detailed emails and background research. We strive to provide comprehensive and tailored assessments of eligibility and strategy for our clients. When a potential client purchases a consultation, we also do not limit the consultation to just the hour purchased, but also answer email follow-up questions. All this takes time. Therefore, we must charge a fee to compensate for the time and expertise that goes into such assessments.
  • What experience do you have?
    The Castlewell Immigration team possesses 17 years experience in the Canadian immigration industry, working in some of the largest and well-known immigration law firms in Canada. We have trained under many of the best immigration lawyers in the country and as such hold ourselves to the highest standard of quality and professional ethics.
  • What are the benefits to using an authorized representative?
    Our team brings a detailed knowledge of immigration laws, policies and procedures to your application. While there are many people who have straightforward cases, and are able to file on their own, there are many who attempt and receive a refusal based on misinterpretation of immigration policy, or simply being unaware of rules and regulations. In addition, there are many people who prefer to save the time and effort and have a specialist prepare an application on their behalf. Picture it like preparing your taxes, a lot of people chose to file on their own, but there are also lots of reasons to have a qualified specialist help you out.
  • I am not located close to your office. Do I need to be close by to work with you?
    No, geographic proximity is not necessary to work with us. In fact, in many cases we never meet our clients face-to-face as they are outside of Canada. We have serviced clients from all over the world destined for cities all across Canada. Often, even clients who are close by prefer to just work with us online. As long as you are comfortable with computers, telephone and email, working with us from anywhere in the world will be a breeze!
  • Can you guarantee the success of my application?
    No. The decision to approve or refuse an application rests solely with the Canadian government. As such, it is not possible for us to ever guarantee an outcome, and any immigration representative that does is acting unethically. It is our policy to only take cases we believe have a very strong likelihood of success. If for any reason we believe that your case is not a strong one, we will tell you and let you decide if you still want to proceed knowing all the possible risks. Also, if we feel that your case requires services that we do not provide (for example we do not do refugee cases), we are happy to refer you to another service provider who may suit you better.
bottom of page