Start-Up Visa Investor Program (SUV)

Start-up visa is a federal Government of Canada immigration program which can be suited for you if you have an entrepreneurial spirit and drive. Whether you are an investor or inventor, and if you meet the initial eligibility, you can receive permanent residence through this program.  The selection criteria among other things includes the following:

• you must have a qualifying business
• you must get a letter of support from a designated organization
• you must pass a language assessment
• you must demonstrate that you have sufficient funds to settle in Canada
• you must not have the intention to live in Quebec

A qualifying business is one that you have created with a designated organization in which you hold a minimum of 10% of the voting rights shares attached to all shares in the business corporation. Also, you and the designated organization, jointly hold more than 50% of the total voting rights attached to all the shares.

Additionally, the business must be incorporated in Canada, have essential part of the business operation that takes place in Canada, and has active and ongoing management of the business from within Canada.

A designated organization can be an angel investor, venture capital fund, or a business incubator. Additionally, you must qualify for one of the requirements where a designated organization must make the following investment into your business:

• one angel investor or more must invest a minimum of $75,000 into a qualifying business
• a venture capital fund must invest a minimum of $200,000 into a qualifying business
• a business incubator must accept you and your business idea as an applicant into their business incubator program

• you must present a language ability that meets or exceeds a level 5 set for the Canada language benchmark

Funds will depend on your family size, and in general, a family of four people must have at least $24,733.

Government of Canada has introduced an open work permit pathway for SUV applicants and their family members. If you have applied for permanent residence under SUV program you and your family members (spouse and/or dependent children) may be eligible for an open work permit for up to three years.

These work permits will allow you to come to Canada, settle your business, and all while your SUV application is being processed. The open work permit pathway is an extension of the one-year work permit pathway which was available. However, with the open work permit, you would be able to work for any employer and your family will be able to settle with Canadian way of life.