The Canada Start-up Visa (SUV) program offers an ideal opportunity for entrepreneurs with groundbreaking business ideas. This exclusive pathway is designed for individuals with exceptional creativity, aiming not only to launch successful start-ups but also to create jobs for Canadians and contribute to the local economy. Additionally, the program targets those capable of building globally competitive businesses, turning their dream of immigrating to Canada and advancing their careers into reality.
What is the Canada Start-up Visa (SUV) Program?
The Canada Start-up Visa (SUV) program is a federal business immigration program introduced by Immigration, Refugees and Citizenship Canada (IRCC) in 2013 as a five-year pilot project. In 2018, a new regulation officially recognized the Start-up Visa as a permanent, ongoing program.
The purpose of the program is to attract entrepreneurs with innovative business ideas who have the potential to create jobs for Canadians and build globally competitive companies. With the slogan “Canada Needs More Entrepreneurs,” the program has opened up numerous immigration opportunities for talented individuals, helping them turn their business ideas into reality while contributing to Canada’s economy.
Notably, this is the first and only Start-up Visa program in Canada that allows applicants and their families to obtain permanent residency (PR) directly from Vietnam. It has also drawn significant interest from entrepreneurs around the world. Specifically, according to statistics from IRCC, between 2015 and May 2024, Canada’s Start-up Visa (SUV) program has helped 6,165 individuals become permanent residents. Of these, 890 were Vietnamese citizens, accounting for 15% of the total PR approvals under this program.
Looking ahead, the Government of Canada has announced its Federal Business Immigration Plan (including SUV and Self-employed Persons programs) for the period 2025–2027, as published by IRCC on October 24, 2024. Under this plan, Canada will grant 2,000 PR approvals in 2025, then decrease to 1,000 PR approvals per year in 2026 and 2027.
Benefits of the Canada Start-up Visa (SUV) Program
The Canada Start-up Visa (SUV) program not only offers you the opportunity to immigrate to a developed country but also provides significant benefits, including:
- Permanent residency (PR) for the entire family, including spouse and dependent children under 22 years old.
- Opportunities to work, network, and expand your business connections in Canada.
- Freedom to choose your place of residence, study, and work in any province or territory across Canada.
- Access to comprehensive healthcare, education, and social welfare benefits, just like Canadian citizens.
- Children can attend public schools for free up to the end of high school and pay domestic tuition fees for post-secondary education (which is only about one-third to one-fourth of the fees paid by international students).
No requirement to prove the origin of your assets. - Dual citizenship is allowed, enabling you to hold both Canadian citizenship and that of your home country.
Note: While you are not required to prove the source of your assets, you still need to demonstrate that you have sufficient funds to support yourself and your family during the first year of settlement in Canada.
Eligibility Requirements for the Canada Start-up Visa (SUV) Program
The program applies to both the applicant and the business entity. To qualify for the Canada Start-up Visa (SUV) program, you must meet the following criteria:
For the Applicant
Each applicant, or each member of a group of applicants, must meet the following requirements:
- Language proficiency: Achieve at least Canadian Language Benchmark (CLB) level 5 in listening, speaking, reading, and writing in either English or French.
- Letter of support from a designated organization: Obtain a letter of support from one of the organizations designated by the Canadian government, including venture capital funds, angel investor groups, or business incubators.
- Proof of settlement funds: Demonstrate sufficient funds to support yourself and your family members upon arrival in Canada. The required amount depends on the size of your family and is updated annually.
- Business idea: Must be innovative, feasible, and scalable, and accepted by one of the designated organizations under the Start-up Visa program.
- Background and health checks: Have no criminal record and meet the health requirements as stipulated by the Canadian government.
For the Business Establishment
To qualify under the business requirements of the SUV program:
- Qualifying business ownership:
- Each applicant must hold at least 10% of the voting rights in the business.
- Combined, the applicants and the designated organization must control more than 50% of the voting rights in the business.
- Business establishment in Canada:
- The business must be incorporated and actively operating in Canada.
- Applicants must play an active and ongoing management role within the business from inside Canada.
- A significant part of the business’s operations must take place in Canada.
List of Designated Organizations for the Canada Start-up Visa (SUV) Program
To participate in the Canada Start-up Visa (SUV) program, your business idea must be approved by a Designated Organization (DO) authorized by the Canadian government or accepted into a business incubator program.
Below are three types of designated organizations that entrepreneurs can contact for support and guidance during the Visa application process:
- Venture Capital Funds: Must invest at least CAD 200,000 (~3,565,932,445.890 VND) into the project.
- Angel Investor Groups: Must invest at least CAD 75,000 (~1,318,815,750 VND) into the project.
- Business Incubators: No minimum investment required; acceptance into the program is sufficient.
Latest Updates to the Start-up Visa (SUV) Program as of April 30, 2024
Immigration, Refugees and Citizenship Canada (IRCC) has announced significant updates to the SUV program regarding Designated Organizations (DOs):
- Project cap per DO: Starting April 2024, each DO will be limited to a maximum of 10 start-up projects per year. Additionally, IRCC has paused the approval of new DOs.
- Changes in oversight mechanisms: Effective August 1, 2024, IRCC will directly oversee DOs, replacing the previous supervision by associations such as NACO and NVCA.
- Temporary suspension of Peer Review process: The Peer Review process for the Start-up Visa will be suspended from August 1, 2024, until further notice. All current Peer Review requirements will be canceled, and IRCC will no longer accept new Peer Review requests.
- Priority processing for specific groups of DOs: IRCC has updated the list of DOs eligible for priority processing under the Start-up Visa program, including:
- Venture Capital Funds
- Angel Investor Groups
- Business Incubators with committed capital support
- Organizations within Canada’s Tech Network
Canada Start-up Visa (SUV) Application Process
The application process for Canada’s Start-up Visa (SUV) involves active participation and support from government-designated organizations. Below is an 8-step overview — from developing a business idea to obtaining permanent residency (PR) for the entire family:
- Step 1: Initial consultation and profile assessment with Phan Immigration.
- Step 2: Co-develop a tailored start-up idea based on the applicant’s background.
- Step 3: Attend interviews and training sessions with designated incubators or investment groups.
- Step 4: Receive a Commitment Certificate and Letter of Support from the designated organization.
- Step 5: Submit the application for a Work Permit or Permanent Residency (PR) to Immigration, Refugees and Citizenship Canada (IRCC).
- Step 6: Incorporate the company and begin operating the business in Canada.
- Step 7: Obtain PR approval for the principal applicant and family members, and relocate to Canada.
- Step 8: Join and integrate into Canada’s start-up and entrepreneurial community.
Why Choose Phan Immigration for Your Canada Start-up Visa (SUV) Journey?
If you’re nurturing a start-up idea in Canada and looking for a long-term immigration opportunity for yourself and your family, Phan Immigration is your ideal partner to accompany you on this journey.
As a Canadian government-licensed immigration consultancy, Phan Immigration proudly provides personalized immigration solutions for individuals and families.
We are not only a trusted bridge between Vietnam and Canada but also offer safe, cost-effective, and efficient Start-up Visa (SUV) pathways. Beyond helping you achieve your PR goals, we also support you in settling down, developing your career, and building a successful business in Canada.
With Phan Immigration, you can rest assured:
- Highly experienced team: Our consultants have over 15 years of experience in Canadian immigration and are licensed by the College of Immigration and Citizenship Consultants (CICC). We are committed to delivering professional, high-quality services.
- Comprehensive and personalized services: We offer a full range of services tailored to each client’s needs, including tourism, study abroad, temporary visas, work permits, and various Canadian immigration programs.
- Strong partner network: Phan Immigration has built solid relationships with immigration lawyers, financial experts, and business organizations in Canada, ensuring a smooth and facilitated immigration process for our clients.
- Commitment to transparency and accountability: We always prioritize our clients’ best interests, providing clear, accurate, and transparent information. We take full responsibility throughout every stage of the process — from consultation to application management — giving you complete peace of mind.
With Phan Immigration, your start-up and immigration journey to Canada will be smoother and more straightforward than ever. Contact Phan Immigration today for fast, reliable consultation and support.
FAQ – Canada Start-up Visa (SUV) Program
The Canada Start-up Visa (SUV) program is a great opportunity for innovative entrepreneurs looking to develop their start-up projects in Canada. Below are some frequently asked questions (FAQ) to help you better understand the process, requirements, and key aspects of the Start-up Visa program.
What makes the Start-up Visa (SUV) program different from other Canadian immigration programs?
Unlike other federal or provincial immigration programs for skilled workers or entrepreneurs — where the decision to grant permanent residency (PR) is based on factors such as points, business performance (including investment capital, number of full-time jobs created for Canadian citizens or PR holders, sales revenue, etc.) — the decision under the Start-up Visa program focuses primarily on the entrepreneur’s credibility and the authenticity of the business operations throughout the application process. This approach places more emphasis on the innovative nature of the business idea and the applicant’s commitment rather than solely on financial outcomes or job creation metrics.
How long does it take to process a Start-up Visa (SUV) application?
The total processing time for a Start-up Visa (SUV) application is typically around 40 months. However, the open work permit application can be processed much faster, usually taking around 3 to 4 months.
During this period, the principal applicant and their family members can live and work in Canada, allowing them to generate income while awaiting the PR decision. The open work permit is valid for up to three years, providing flexibility and security throughout the application process.
How many members can participate in a Start-up Visa (SUV) project?
The Canada Start-up Visa (SUV) program allows up to five team members to apply together under the same project. However, all members must play a critical and active role in the development and management of the business. To meet the requirements, each member must be accepted and obtain a Letter of Support from a designated organization.
What is the success rate for the Start-up Visa (SUV) program according to IRCC?
According to statistics from Immigration, Refugees and Citizenship Canada (IRCC), the approval rate for permanent residency under the Start-up Visa (SUV) program is around 80%. Most unsuccessful cases are due to issues related to the designated organizations or non-compliance by applicants with the program requirements.
Which organizations are designated to issue Letters of Support?
Designated organizations under the Start-up Visa (SUV) program include business incubators, angel investor groups, and venture capital funds recognized by IRCC. These organizations are responsible for evaluating business ideas, offering fee-based incubation programs, and issuing Letters of Support for the applicant’s Visa application.
More than 70% of SUV applications come from business incubators, as these organizations typically accept business plans from applicants who are still in the idea development stage. In contrast, angel investor groups and venture capital funds often require applicants to have a clear solution and some proven initial success in the market.
Does receiving a Letter of Support guarantee permanent residency?
No, receiving a Letter of Support is a mandatory component of the PR and work permit application, but it does not guarantee approval for permanent residency.
The granting of PR depends on the credibility of the applicant’s information and the actual business activities conducted by the applicant during the Start-up Visa process, before the final PR decision is made by IRCC.
In which provinces are Start-up Visa (SUV) Canada projects typically approved?
As of May 2024, the distribution of successful PR approvals under the Canada Start-up Visa (SUV) program by province is as follows:
- Canada (100%)
- Ontario: 51.85%
- British Columbia: 33.98%
- Manitoba: 7.30%
- Alberta: 3.00%
- Prince Edward Island: 1.78%
- Nova Scotia: 1.30%
- New Brunswick: 0.97%
- Newfoundland and Labrador: 0.08%
What industries are eligible for the Canada Start-up Visa (SUV) program?
The main industries encouraged under the SUV program include:
- Advanced manufacturing or engineering
- Energy
- Internet technologies
- Big data analytics
- Software development
- Artificial intelligence (AI)
- Robotics
- Life sciences
- Financial technology (FinTech)
- Clean technology
- Healthcare
- Health technology
- Biotechnology
- Environmental technology
What are the challenges of applying for the Canada Start-up Visa (SUV) program?
One of the key challenges is that applicants must obtain approval from a designated organization (DO) recognized by the Canadian government, which can be difficult for candidates from Vietnam due to differences in language, culture, and business environments.
Additionally, the Start-up Visa application process is complex and requires thorough preparation regarding the start-up project, documentation, and immigration requirements.
Therefore, many applicants choose to work with licensed immigration consulting firms in Canada, which help assess eligibility, bridge the gap between the applicant and the government, and increase the chances of success.
Can IRCC revoke a PR status after it has been granted?
Yes, IRCC may revoke an applicant’s permanent resident (PR) status if there is evidence of fraud or misrepresentation, such as providing false information in the PR application.
If such violations are discovered, IRCC has the authority to cancel the applicant’s PR status.
Above, Phan Immigration has provided comprehensive answers to your questions about the Canada Start-up Visa (SUV) program. We hope these insights have given you a clearer understanding of the process, requirements, and benefits of participating in the program. If you need further information or personalized support, feel free to contact Phan Immigration at our hotline: 078 208 4466 for detailed consultation.
You can also use our self-assessment tool and receive a free evaluation from our experts.
