How much money is required for a startup visa in Canada?

Investment Requirements for Canada’s Startup Visa Program

Aspiring entrepreneurs looking to establish businesses in Canada through the Startup Visa program should be aware of the significant financial investment required to qualify. The program demands a substantial capital investment of $150,000 to $200,000 per partner. This investment must be used to establish and operate the business in Canada.

Language Proficiency

In addition to the financial requirement, applicants for the Startup Visa program must demonstrate language skills at a Canadian Language Benchmark (CLB) level of 5 or higher. This requirement applies to both English and French language proficiency, with a valid language test result serving as proof of language ability.

Processing Time

The processing time for a work permit under the Startup Visa program varies depending on the country of origin. Generally, applicants can expect to wait anywhere from 2 to 6 months for their work permit to be processed.

Permanent Residency

Once an applicant has successfully obtained a work permit and established their business in Canada, they can apply for permanent residency through the Startup Visa program. As of December 2024, the processing time for permanent residency under this program is estimated to be between 18 and 24 months.

It is important to note that the Startup Visa program is designed for highly skilled entrepreneurs with innovative business ideas who have the potential to contribute to the Canadian economy. Applicants must meet strict eligibility criteria and be willing to make a significant investment in their business venture.