Canada Startup Visa Financial Requirements 2025

Updated March 2025 · bremo.io

Canada's Startup Visa Program (SUV) is a pathway for immigrant entrepreneurs who want to build innovative businesses in Canada. Unlike traditional investor immigration programs, the SUV focuses on innovative business ideas rather than pure capital investment. However, the financial requirements are still substantial.

What Is the Startup Visa Program?

The SUV grants permanent residence to foreign entrepreneurs with a qualifying business backed by a designated Canadian organization. The program aims to attract globally-competitive businesses to Canada. Since becoming permanent in 2018, the program has grown significantly.

The Three Types of Designated Organizations

1. Venture Capital Funds

Must invest a minimum of $200,000 CAD in your business. This is the minimum threshold to qualify. Most successful applications involve significantly larger investments.

2. Angel Investor Groups

Must invest a minimum of $75,000 CAD in your business. Angel investor groups are more accessible for early-stage companies with smaller capital needs.

3. Business Incubators

No minimum investment requirement — incubators provide support, mentorship, and resources instead of direct investment. Acceptance into a designated incubator program qualifies you for the SUV.

Personal Financial Requirements

Settlement Funds

Regardless of the investment amount, you still need personal settlement funds:

• 1 person: $14,690 CAD
• 2 persons: $18,288 CAD
• 3 persons: $22,483 CAD
• 4 persons: $27,297 CAD

These are the same as Express Entry settlement fund requirements. You must demonstrate you can support yourself and your family while you establish your business.

Application Fees

• Principal applicant processing fee: $850 CAD
• RPRF: $575 CAD
• Spouse/partner: $850 + $575 CAD
• Dependent children: $230 each
• Biometrics: $85/person

Language Requirements

All SUV applicants must meet minimum language requirements in English or French:

• CLB 5 or higher in all four skills (listening, speaking, reading, writing)
• IELTS equivalent: 5.0 in each band
• CELPIP: Level 5 in each skill

Business Requirements

Your business must meet specific criteria:

• You or your co-founders must hold at least 10% of voting rights in the company
• You and all co-founders combined must hold more than 50% of voting rights
• The business must be incorporated in Canada or have plans to do so
• The business must be innovative (novel product, service, or technology)

How to Find Designated Organizations

IRCC maintains a list of designated venture capital funds, angel investor groups, and business incubators on their website. As of 2025, there are:

• Approximately 15+ designated venture capital funds
• Approximately 20+ designated angel investor groups
• Approximately 10+ designated business incubators

Getting a commitment from a designated organization is the hardest part of the process — this requires you to pitch your business successfully. No specific success rate data is published.

Costs Beyond the Application

Legal Fees

SUV applications are complex. Immigration lawyer fees typically range from $5,000 to $15,000+ depending on complexity.

Business Setup Costs

Once in Canada, you will need to:

• Incorporate federally or provincially: $200–$400
• Register for GST/HST: Free if sales will exceed $30,000
• Open a business bank account: Most banks require $0–$5,000 to open a business account
• Accounting and bookkeeping: $100–$300/month for a startup

Work Permit While Waiting

SUV processing times are currently 16–36+ months. While waiting, applicants can apply for a Temporary Resident Permit or, if you have a specific job offer, a work permit. Many SUV applicants bootstrap their startup while on a work permit during the SUV processing period.

Tax Considerations for Startup Founders

As a Canadian resident running a startup, key tax considerations include:

• Canadian-Controlled Private Corporation (CCPC) status allows access to the Small Business Deduction — reducing corporate tax to approximately 9% on the first $500,000 of active business income
• Scientific Research and Experimental Development (SR&ED) tax credits — refundable credits for qualifying R&D expenses (up to 35% federal credit for CCPCs)
• Capital gains exemption on sale of CCPC shares — up to $971,190 in lifetime capital gains from sale of qualifying small business shares is exempt from tax (2025 threshold)

After Landing: Business Banking

Setting up business banking in Canada requires:

• Certificate of incorporation or articles of incorporation
• Business Registration Number (BRN)
• Resolution appointing authorized signatories
• Personal ID of all authorized signatories

RBC, TD, and Scotiabank all have business banking packages for startups with fee waivers for the first year.