Each designated organization has its own qualification requirements, based on the client’s profile, business stage of development, type of industry, etc. It is important to be aware of these requirements before reaching out to a given designated organization. There are 3 types of designated organizations:

– Business Incubators
– Venture Capital Funds
– Angel Investors

Each designated organization has particular requirements when selecting would-be start-up applicants and prior to the issuance of a letter of support.

The requirements differ from one designated organization to another and primarily focus on (but not limited to):

– Proposed start-up’s industry sector
– Start-up underlying business idea’s development stage
– Proposed start-up’s founders’ academic and professional experiences
– Business model feasibility

The Canadian government has designed a number of organizations to assess the applicant’s business plan or business concept prior to the submission of the permanent residency application.

There are 3 types of designated organizations:

– Business Incubators
– Venture Capital Funds
– Angel Investors

Each designated organization has particular requirements when selecting would-be start-up applicants and prior to the issuance of a letter of support.

The requirements differ from one designated organization to another and primarily focus on (but not limited to):

– Proposed start-up’s industry sector
– Start-up underlying business idea’s development stage
– Proposed start-up’s founders’ academic and professional experiences
– Business model feasibility

Yes. Some designated organizations (mostly business incubators) accept to support business ideas at early stage. Venture Capital Funds and Angel Investors usually request evidence of the product traction.

The applicant must submit English or French test results from an approved agency establishing a minimum level of CLB5 (Canadian Language Benchmark) in all four aspects: speaking, reading, listening, writing.

The amount depends on the size of the family and is updated on a yearly basis, Here are the required settlement funds for 2024:

No. while each start-up evolves at a different speed, it is crucial for the start-up visa applicant to establish progress in the development of the business idea. The start-up visa applicant may be requested to show substantial progress in the development of the business idea prior to the issuance of the permanent residency visa.

Milestone Examples
  1. Completion of the business plan
  2. Incorporation of the company
  3. Initial funding
  4. MVP Development (by hiring, by contracting software developer or other key persons)
  5. Validation of the product assumptions (by conducting interviews)
  6. Sourcing of distributors (by contacting, negotiating with potential buyers)
  7. Sourcing of potential clients
  8. Website Deployment
  9. First version of the MVP
10. Public rollout of the product
11. Update the business plan based on public rollout and assumption validation
12. If necessary, second round of funding

Beside the language and the business idea requirements, the SUV program does not have specific conditions regarding the client’s background other than the general immigration conditions applicable to all programs.

Designated Organisations may favour clients with business idea in line with their education and working experience. According to IRCC data, successful applicants:

1. Are aged of 25 to 44 years old in 77% of cases.
2. Have a graduate degree 74% of the time.
3. Start a business whose innovative aspect is related to software development in 74% of cases, so a background in IT is considered very useful.
4. Had previous business experience by operating their own business or working for a business in a managerial or senior role in 90% of cases.

Since every business plan is adapted to the foreign entrepreneur’s background and business idea, there is no a fixed amount of investment required. The applicant’s active and on-going participation in the development of the business idea in Canada and the reaching of milestones are key and will determined how much money should be invested.

A foreign entrepreneur whose start-up has received a letter of support from a designated organization is entitled to apply for a work permit if his presence in Canada is demonstrably urgent for the development of the business idea. If the foreign entrepreneur does not intend to use the work permit in a substantial way, it is better not to apply and work on the development of the business idea in Canada from overseas.

The incubation is a service provided by one type of designated organization, the business incubator. While the duration and services of the incubation vary, the services are focused on helping the start-up to successfully develop. The incubator usually provides access to an office, mentoring services and networking opportunities.

The business training, usually given online, helps the start-up entrepreneur to accelerate the development of the business idea in Canada.

The business incubator is introducing the foreign entrepreneur to topics such as:

– The Canadian business culture
– Market Acceleration
– Product Validation Process
– Marketing
– Finance and accounting
– Intellectual property considerations
– Tax and corporate issues

The language test result (CLB 5) is required before the issuance of the letter of support.