The Canadian Start-Up Visa is designed for foreign entrepreneurs who wish to launch an innovative business in Canada. The visa is issued to start-up founders with a promising business idea and support from accredited Canadian organisations.
A team of up to five partners can apply for the start-up visa. Each partner must own at least 10% of the company’s voting shares. Additionally, the founders and the investor must own more than 50% of the company together.
Family members of the company founder, including the spouse and children under 22 years old, also receive the visa. They are allowed to work and study in Canada without additional permits.
The start-up visa is valid for up to three years. Along with the visa, entrepreneurs and their family members receive permanent resident status. Permanent residency is granted for life, but the resident card must be renewed every five years.
Foreigners can apply for Canadian citizenship after three years of living in the country with permanent resident status. A Canadian passport offers more travel opportunities, allowing visa-free entry to 167 countries.