Vietnamese Applicants Top Canada Startup Visa Recipients
In 2019, says Bastien Trelcat, “some consultants started abusing loopholes in the program, such as by selling it as a passive investment,” which has resulted in lower approval rates.
Canada’s Startup Visa offers entrepreneurs who can obtain the financial backing of venture capital funds or angel investors, or who are accepted by business incubators, the right to start and operate a new business in Canada.
The program offers a path to permanent residency in Canada in as few as two years and citizenship in as few as five.
Though there are no specific physical presence requirements, applicants are expected to take an active and ongoing managerial role in their startups and, therefore, in practice spend most of their time in Canada.
Program Type | Active Investor Visa |
Time to citizenship | 5 years |
Time to permanent residency | 2 years |
Minimum investment | None, but external financing needed (see How to Qualify) |
Physical presence requirement | None, but applicant must engage in active management of the business from within Canada. |
Application processing time | 12-16 months |
Citizenship grants visa-free travel to | 185 destinations, including Schengen countries and the US |
Contribution types available | No investment required |
General program requirements
Applicants to Canada’s Federal Startup Visa program do not need to make an investment themselves but must, instead, secure the financial backing of external, accredited investors for the startup they plan to launch.
Applicants must demonstrate a modicum of personal funds:
Prove a minimum bank balance of C$13,215;
Prove an additional minimum bank balance of C$3,500 per dependent;
Applicants must, additionally, obtain a certificate of commitment from an angel investor group, a venture capital fund, or a business incubator:
C$200,000 commitment from designated Canadian venture capital funds; OR
C$75,000 commitment from investors part of designated Canadian angel investor groups; OR
Confirmation that the startup is part of a designated Canadian business incubator program.
Applicable fees:
CAD $85 application fee for a single applicant;
CAD $170 for a family application;
CAD $285 for a group of three or more main applicants and their dependents.
The main applicant can sponsor a spouse, children under 21, and financially dependent parents and grandparents for residency in Canada.
Program benefits
Requirements to qualify for citizenship
After spending a total of 730 days (two years) in Canada, the Startup Visa applicant is eligible for permanent residence in Canada.
After spending at least 1,095 days over a five-year period in Canada, applicants are eligible for Canadian citizenship, provided they have first become permanent residents, have filed taxes each year, and has mastered either English or French.
Naturalization applicants must, furthermore, take an Oath of Allegiance.
Canada permits dual citizenship.
Legislation upon which this program is based:
Immigration and Refugee Protection Act 2001, Chapter 27 Sub 11 (1)
See more statistics on this program, and dozens of others, in the IMI Data Center.
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In 2019, says Bastien Trelcat, “some consultants started abusing loopholes in the program, such as by selling it as a passive investment,” which has resulted in lower approval rates.
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Programs that offer citizenship within months in exchange for investments or donations, with minor/no physical presence requirements.
Programs that offer citizenship in exchange for investments following a 1-2 year period, with minor/no physical presence requirements.
Bulgaria Investor Program (discontinued)
Malta MEIN
Programs that offer residence permits within months in exchange for passive investments, with limited physical presence requirements.
Andorra Residence Without Lucrative Activity
Anguilla Permanent Residency Program
Australia BIIP Investor Streams
Bahamas Economic Permanent Residence
Brazil Investor Visa (VIPER)
Cayman Islands Investor Visa
Costa Rica Investor Visa
Curaçao Investor Permit Program
Cyprus Golden Visa
Greece Golden Visa
Guernsey Investor & Entrepreneur Residency
Ireland Immigrant Investor Program
Italy Investor Visa
Latvia Investor Visa
Luxembourg Investor Visa
Malaysia M2H Visa
Malta Permanent Residence Program
Mauritius Permanent Residency Program
Monaco Carte de Séjour
Netherlands Investor Visa
New Zealand Investor Visa
Nicaragua Investor Permanent Residency Program
Panama Qualified Investor Visa
Philippines Special Investor Residence Permit
Portugal Golden Visa
South Korea Investor Visa
Spain Golden Visa
Thailand Elite Residence Program
UK Investor Visa (discontinued)
United States EB-5
Programs that offer residence permits within months to those who can demonstrate income or personal wealth above a certain level, usually requiring that the holder not take up employment locally.
Argentina Rentista and Pensionado Residency
Greece FIP Visa
Indonesia Retirement Visa (KITAS)
Italy Elective Residency Visa
Jersey High Value Residency
Mexico Legal Residency Visa
Nicaragua Pensionado and Rentista Visas
Panama Rentista Retirado Visa
Paraguay Permanent Residency Program
Portugal D7 Visa
Spain Non-Lucrative Visa
Uruguay Independent Means Visa
Programs that offer residence permits within months to those who physically relocate to start and/or run a business. Startup and entrepreneur visas fall under this category.
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