Is the Canadian Start-Up Visa Program Right for You? Understand the Eligibility Requirements

Canada’s Start-Up Visa (SUV) Program offers an exciting pathway to permanent residency for innovative entrepreneurs. At Ahlawat Law Professional Corporation, we understand that navigating the complexities of immigration can be daunting. That’s why we’ve created this guide to help you understand the core eligibility requirements for the SUV program.

Who Can Apply?

The Start-Up Visa Program welcomes both individual applicants and groups of up to five co-owners. However, every applicant must meet specific criteria to qualify. Let’s break down the key requirements:

1. Have a Qualifying Business

Your business idea is the heart of your application. To qualify, it must meet these conditions:

• Ownership Stake: Each applicant must hold at least 10% of the total voting rights in the company.
• Majority Control: Applicants and the designated organization supporting your venture must collectively hold more than 50% of the total voting rights.
• Active Management: If your application is successful, you’ll need to incorporate your business in Canada and provide active, ongoing management from within Canada.
• Canadian Operations: A significant portion of your business operations must occur within Canada.

2. Obtain a Letter of Support from a Designated Organization

A “designated organization” is a government-approved business group authorized to invest in or support promising start-ups. This support is crucial to your application.

• Contact and Convince: You’ll need to contact designated organizations directly and persuade them that your business idea is viable and worth their investment.
• Letter of Support: If convinced, the organization will issue a letter of support, a crucial document for your application. They will also send a commitment certificate directly to Immigration, Refugees and Citizenship Canada (IRCC).

Important Note: Designated Organization Caps

Be aware that each designated organization has a limit on the number of group applications they can support each year (10 complete applications). Applications are reviewed on a first-come, first-served basis. Apply early to avoid potential delays! This cap is in place until December 31, 2026.

3. Meet the Language Requirements

Proficiency in either English or French is essential. You must demonstrate this by achieving a minimum Canadian Language Benchmark (CLB) level of 5 in listening, reading, writing, and speaking. Your language test results must come from an IRCC-approved testing agency.

4. Demonstrate Sufficient Settlement Funds

The Canadian government will not provide financial support to Start-Up Visa immigrants. Therefore, you must prove that you have enough money to support yourself and your dependents upon arrival in Canada. The required amount depends on your family size and is updated annually. Importantly, you cannot borrow these funds.We recommend researching the cost of living in your intended destination in Canada and bringing as much money as possible to facilitate your move and initial settlement.

Ahlawat Law: Your Partner in Navigating the Start-Up Visa Program

The Start-Up Visa Program can be a life-changing opportunity. However, the application process requires careful preparation and attention to detail. At Ahlawat Law Professional Corporation, we have the expertise to guide you through every step, from assessing your eligibility to preparing a strong application.

Considering the Start-Up Visa Program? Contact Ahlawat Law today for a consultation!

Disclaimer

This blog post provides general information only and does not constitute legal advice. Immigration laws and policies are subject to change. Consult with a qualified immigration lawyer for personalized guidance.