Investor Visa in Canada - Complete Guide for UK Entrepreneurs

If you’re a UK business owner or entrepreneur, expanding your operations to Canada can offer a great way to grow. And with the Canada entrepreneur visa you could also apply for Canadian residency to make it easy to live and work there, for you and your family.

Whilst there are a pretty broad range of Canada immigration programs, the start up visa is the one most likely to suit UK investors and entrepreneurs. This guide covers all you need to know about the investor visa in Canada and how it works, so you can see if it suits your specific needs.

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Canada investor visa program - What is it and how does it work?

The key Canada investor visa program is the Canadian start up visa¹, which allows immigrants to apply to move to any region of Canada aside from Quebec. If you’re planning on living in Quebec there’s a different process in place, with its own requirements which can be found online.

It’s good to know that the Canada start up visa isn’t quite like investor visas you may find elsewhere. While generally, immigration by investment involves you putting up a lot of your own money, the start up visa doesn’t necessarily require you to invest your own funds at all² - rather you have to have proof of a designated investor or a business incubator which is willing to support your plans. That means that the question isn’t so much how much is an investor visa in Canada, but how good is your business idea.

We’ll break down the Canada investor visa requirements in detail shortly, but in general, the start up visa is designed to encourage businesses which are innovative, globally competitive and which create jobs in Canada. You’ll need to have support from an angel investor or venture capital group, or else be accepted into a business incubator program³, as well as meeting a few other eligibility requirements which we’ll look at later.

Getting a Canada start up visa can be somewhat time consuming, with predicted processing times of 36 months. However, while your application is being processed you may be eligible to move to Canada on a temporary basis to start building your business idea. Although visa issuing was interrupted by the pandemic, the number of start up visas issued in 2022 was reported to have risen significantly, to 420 - almost 200% up on the previous year⁴.

Canada investor visa requirements

To apply for a Canada start up visa you’ll need to meet some eligibility requirements, which apply to both you and your dependents, and the business you’re planning on starting in Canada. In general:

• You must have a qualifying business
• You must have a letter of support from a designated investor or organisation
• You must meet language requirements in English or French
• You must have enough money to pay for yourself and any dependents while you’re in Canada
• Other requirements, including medical checks and police reports are also applied

We’ve already mentioned that you don’t necessarily need to be investing your own money in your new business. However, if you’re being supported by a Canadian organisation you’ll need to have a commitment of 75,000 CAD from an angel investor, or at least 200,000 CAD from a venture capital firm⁵. Alternatively you can have your business accepted into a business incubator program, which does not require any specific investment.

Aside from the funds to build your business, you’ll also need to prove you have enough money to pay for yourself and any family members you bring with you. The requirement here depends on family size and is reassessed annually - at the time of writing it sits at around 14,000 CAD for a single applicant, up to just over 25,000 CAD for a family of 4⁶.

How to get an investment visa for Canada

If you’re considering getting a Canada visa by investment it’s helpful to know you can either run through the application process yourself or have a specialised consulting company work with you to go through the documents and process. While there will be a fee for this service, having support can make the application run more smoothly, and reduce the hassle overall.

Here’s an overview of how to get an investment visa for Canada⁷:

1. Gather the documents required - we’ll look at the details needed in a moment
2. All applicants are required to undergo a medical exam and to provide police certificates for any country they’ve lived in for over 6 months since the age of 18
3. Complete and sign the digital application forms
4. Pay the application fees

Once your application has been submitted you’ll be able to get more detailed information about the likely visa processing times⁸ - but as we’ve already mentioned, waits of up to 36 months are common.

Documents required for the Canada entrepreneur visa

Next, let’s walk through the personal documents and government forms needed in order to apply for a start-up visa with the Canadian government. You’ll need to have your own proof of identity documents, as well as passport sized photos, along with the following:

• Proof of your eligible business, including ownership or business plans
• Proof of support from a designated organisation
• Proof of funds from the designated organisation if relevant
• Proof of your education
• Proof of your language ability
• Medical and police clearances as required

To submit your application you’ll need to complete 4 digital forms, including signing and submitting them online:

• Generic Application Form for Canada (IMM 0008)
• Schedule A – Background/Declaration (IMM 5669)
• Additional Family Information (IMM 5406)
• Supplementary Information - Your travels (IMM 5562)

In some cases additional paperwork is needed, such as a declaration of common law union if you’re not married and plan to bring a partner with you. Some documents need to be completed hard copy with a signature, so it’s helpful to review all the potential requirements ahead of time so you’ll know what’s needed in your particular case.

All of the forms you need to complete, as well as document check lists you can use depending on the specific route you’re applying under, are available online.

How much is the investor visa in Canada?

Although you may be able to apply for the investor visa in Canada with no specific funds to put into your new start up business, there are still the fees and costs related to the application which you’ll need to consider.

Here are the processing fees for the Canada start up visa:

• Application and permanent residence fee - 2,140 CAD
• Application for a spouse or partner - 1,365 CAD
• Application for a dependent child - 230 CAD
• Biometrics - 85 CAD per person, or 170 CAD for a family

It’s important to know that applications which are rejected won’t necessarily have the fees refunded, so completing all the paperwork in full is essential.

Investor visa in Canada - pros and cons

Not sure if the Canada start up visa is the one for you? Here are some pros and cons for the Canadian investor visa option to help you decide if it may work for your particular situation.

Pros ✅	Cons ❌
Access to large market in Canada No upfront business investment required Apply for temporary residence while the application is being processed You can bring a partner and your children	You need support from a designated investor or organisation You’ll need the funds to support yourself in Canada Application fees apply Processing time may be 36 months

In many countries, applying for a visa by investment is only really an option for individuals with a lot of money already set aside to immediately fund their new business idea. Because Canada has a focus on encouraging innovative businesses, the start up visa works a little differently, and relies on you having a great business idea that catches the eye of either a Canadian investor or a business incubator.

While the process may be a little time consuming and tricky to manage, it does have the advantage that you don’t necessarily need a lot of your own money upfront - you’ll just need the application fees and proof you can pay your way once you arrive.

Use this guide to see if the Canada start up visa might be the right one for you and your business plans - and good luck!

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Sources used in this article:

1. Start up visa program
2. Start up visa - about
3. Designated organisations
4. Canada immigration news report
5. Start up visa FAQ
6. Proof of funds
7. Start up visa application
8. Visa processing times

Sources last checked June 27, 2023