Canada continues to position itself as a hub for global innovation through its Start-Up Visa (SUV) Program — an immigration pathway that enables entrepreneurs to obtain permanent residency by building high-potential businesses in the country. As immigration policies evolve, the SUV remains a standout option for driven founders aiming to establish a future in Canada.
According to Maple News, the SUV Program offers a direct route to permanent residence for up to five co-founders of a single start-up, provided they secure support from a designated organization — a Canadian venture capital firm, angel investor, or incubator. Eligibility requirements include holding at least 10% ownership in the startup, collectively controlling over 50%, demonstrating active business management in Canada, achieving a minimum CLB 5 in English or French, and showing the ability to financially support oneself and family members. Recommended settlement funds hover around $200,000 per applicant.
Once a Letter of Support is obtained, successful applicants and their families can relocate to Canada within 3 to 6 months on a temporary work permit. However, the path to permanent residency remains lengthy, with processing times often exceeding 40 months. Still, recent improvements — such as three-year open work permits and priority processing in cases with committed capital — increase the program’s attractiveness for serious entrepreneurs.
To manage application volumes, Immigration, Refugees and Citizenship Canada (IRCC) has limited each designated organization to endorsing only 10 start-ups per year until 2026. Organizations are encouraged to select only the most promising ventures. From January to November 2023, SUV approvals stood at 77.2%, reflecting a relatively high success rate for well-prepared applications.
The SUV stands out among Canada’s business immigration options. Unlike the Self-Employed or provincial entrepreneur programs, the SUV doesn’t mandate net worth verification. Nor does it require applicants to establish or buy an existing full-scale business upfront. Instead, it offers shared financial responsibility, mentorship, and guidance from designated organizations. While the federal Self-Employed Program is paused until 2026, Quebec’s version remains available.
Applicants should be aware that the SUV is highly competitive due to limited slots and the need for a scalable, innovative business model. Administrative fees for securing a Letter of Support can exceed $75,000 per entrepreneur. Moreover, IRCC requires ongoing updates about business activities once an application is in process, to ensure ongoing commitment.
Canada’s SUV program remains a compelling path for founders seeking permanent residency and business expansion in a welcoming and innovation-friendly environment. With the right business concept, meticulous preparation, and the backing of a credible designated organization, successful applicants can build both a company and a future in Canada.
Maple News emphasizes the importance of early planning and professional consultation, especially as SUV policies tighten and demand continues to rise into 2025 and beyond.