Complete Guide to Canada's Start-up Visa in 2025 for UK entrepreneurs

Since its introduction in 2013, the Canada Entrepreneur Visa, also known as the Canada Start-up Visa, has been a promising avenue for international entrepreneurs. Whether you're starting from the ground up or moving your essential operations, here's everything you'll need to know about the application process.

An important part of the whole equation is knowing how to handle your international business finances as efficiently as possible. With a Wise Business account, managing payments across borders is both convenient and transparent, all with access to 40+ currencies.

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What is the Canada Start-up Visa?

The Canada Start-up Visa (SUV) is a business immigration program designed for non-Canadian entrepreneurs to get permanent residence by kick-starting their business in this country. Introduced back in 2013, it has proven to be a lucrative way to bring innovative business ideas to Canada, creating new jobs in the country itself with the promise of global expansion at the same time.

According to data from Immigration, Refugees and Citizenship Canada (IRCC), the approval rate for this Visa program has been hovering around 80% since it was established¹. Recently, there have been policy changes, including limiting the required designated organisations to support no more than 10 startups each per year.² However, there is still a long list of incubators, VC funds and angel investor groups that can provide their recommendation. For this reason, the Canada Start-up Visa remains a promising avenue for entrepreneurs trying to build their businesses and get permanent residency in this country.

Types of Visas available

If, for whatever reason, the Canada Start-up Visa is not quite the right fit, you don't have to abandon the idea altogether. There are many other avenues you can explore to kick-start your Canadian professional journey and secure a residency there. The Self-Employed Persons Program has been paused until January 2027³, but for those in the cultural, artistic, or athletic fields, it might be worth the wait.

Besides the now-paused Self-Employed Persons Program, the options include different temporary work permits (C11, ICT, C10) and provincial nominee programs. Here's an overview to better understand which program is best suited for you:

Eligibility requirements for the Canada Start-up Visa

If you've considered your options and pinpointed the Canada Start-up Visa Program as the best course of action for your business venture, you will need to meet specific requirements. Under this Visa Program, up to five business partners can apply for the same startup venture.

Here's what you'll need:

• Innovative and scalable business ideas – you need to have plenty of experience in your field and an innovative business idea that has the potential to create jobs for Canadians and expand internationally, while still actively managing core operations in Canada
• Letter of Support – you will need to obtain a Letter of Support from a designated organisation operating in Canada⁴, which includes different venture capital funds, business incubators, and angel investors. You can find the full list of organisations on Canada.ca, the official government website of the country
• Language proficiency – you need to have a Canadian Language Benchmarks (CLB) 5 in either English or French
• Ownership and control – you need to individually hold a minimum of 10% of the voting rights in the startup venture, which means that with other applicants, there needs to be control over 50% of the voting rights collectively
• Settlement funds – you need to have sufficient settlement funds, as well as operational capital, which should ideally be over $200,000 to support both the personal and the professional side of things for each member of the startup⁵

Benefits of securing a Start-up Visa in Canada

One of the most appealing advantages of the Canada Start-up Visa Program is the fact that both you and your immediate family members can secure permanent residency before the business even starts growing significantly. You can get an open work permit, which will let you work as an entrepreneur and is valid for up to 3 years⁶. That's more than enough time to launch and operate your startup venture in Canada. Spouses are also eligible for an open work permit, and your children can get study permits, allowing the whole family to settle down in this country.

On top of that, you get access to Canada's healthcare and education systems, and you can retain your permanent residency even if your startup doesn't succeed. So, even though there are some inherent risks, as with any other business venture out there, the overall structure of the Canada Start-up Visa Program is designed to support newcomers in building a promising professional journey in this country.

How to apply for the Canada Start-up Visa, step-by-step

According to IRCC data, there are currently well over 18,000 applications in the system, across all different processing stages. This translates to around 6 years' worth of inventory, and because of that, the Canada Start-up Visa Program comes with extended processing times. As of now, it's standing at around 51 months⁷, which is over 4 years, but this can be shortened for applications that meet priority criteria, such as those backed by Canada's Tech Network members or $75,000+ Canadian capital. Here are the steps you will need to take to finish this whole process successfully.

Step 1 – Develop and validate the concept of your business

While a great and innovative business idea is the main pillar of this whole venture, it's not enough to get by. You will need to expand on the concept as much as possible, validating it with prototypes, market research, and pilot testing before you reach out to suitable designated organisations. Focus on aspects that bring unique solutions to market problems specific to Canada, and use concrete evidence like early sales or customer feedback to strengthen the application.

Step 2 – Submit your proposal to designated organisations

If you've completed the first step as thoroughly as possible, it's time to get in touch with at least three designated organisations to support you in this venture. Venture capital funds usually don't invest if there's no proven revenue, so if the concept is still in the beginning stages, you should turn your attention to business incubators and angel investors.

Once you've got a couple of designated organisations selected, it's time to reach out. The process differs between organisations, so the formal pitch, due diligence review, and the issuing of the Letter of Support can take two to three months for each of them. Developing your business concept in as much detail during the early stage will help you throughout all the necessary presentations and financial reviews.

Step 3 – Apply for permanent residence in Canada

If you've managed to secure a Letter of Support from a designated organisation, it's time to start with your permanent residence application. You need to collect the required documents, and the immigration office can request additional documentation if there's a need for more information. Use the document checklist⁸ on the official Government of Canada website to make sure you've got everything you need.

All of the documents need to be legally translated into either French or English and, of course, certified by the corresponding country. Here are some of the documents you'll need to collect:

• Language test results (NCLC Level 5 or IELTS CLB Level 5)
• CV and a draft of the business proposal
• Letter of Support from a designated organisation
• Copy of passport and other legal travel documents
• Birth and marriage certificates
• Bank statement covering the last six months at a minimum
• Police clearance record from the country of origin

Step 4 – Apply for an open work permit

While the permanent residence application is being processed in the system, you and the essential members of your team should begin applying for the open work permit. This will allow you to come to Canada and start building the business in the country itself, as well as pursue other employment opportunities.

Step 5 – Arrive in Canada and further develop your venture

While waiting for your PR status, it's essential that you keep IRCC updated on the progress of your startup, as the application can be rejected if it shows minimal progress. It's best to proactively provide updates every 6 months or so to demonstrate your commitment to further development. Once you're granted PR status, it's one significant step made towards building a successful business in Canada.

Tips for starting a business in Canada

First and foremost, to make this venture a smooth transition, you should open a business bank account as soon as possible. Wise Business can help you get started right away, allowing you to transfer money to suppliers, pay distributed staff and receive payyments from abroad from the jump. This may be particularly useful as opening a local Canadian bank account may prove to be time-consuming or restricted for newcomers.

While there is plenty of information available online, it's a smart idea to hire a local accountant to help you figure out the financial side of things in this new market.

It's also worth getting to know the local startup hubs and networks. Canada has several leading innovation hubs, across popular cities like Toronto, Montreal and Vancouver, but other emerging hubs include Edmonton, Waterloo and London.

Grow your startup in Canada with Wise Business Account

When you're starting a business across borders, Wise Business is built to take the hassle out of managing money internationally.

You'll get:

• No monthly fees or hidden costs
• International payments at the real exchange rate
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• Multi-currency support, ideal for handling funds in USD, GBP, EUR, and 40+ currencies
• Local account details in major currencies
• Hold and convert over 40 currencies in one place

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Starting a business in Canada as a foreign entrepreneur is easier than ever, thanks to the Start-up Visa program. If you come up with the right plan, prepare with some local knowledge, and have tools ready to manage your finances, you'll be well on your way.

Sources:

1. Start-up Visa Canada complete guide - Immigration.ca
2. Start-up Visa program latest policy- Harvey Law Corporation
3. Self-employed persons Program: how to apply - Canada.ca
4. List of designated organisations - Canada.ca
5. Start-up Visa eligibility - Canada.ca
6. Start-up Visa work permits - Canada.ca
7. Start-up Visa: about - Canada.ca
8. Document checklist: Start-up Business Class (IM5760)- Canada.ca

Sources last checked on 25-July-2025