A start-up business must be a new business intended to be operated in Canada which meets the criteria of a qualifying
business, meaning that the new start-up business has received a commitment from:
1.a designated angel investor group confirming that it is investing at least $75,000 in a qualifying business or two or
more designated angel investor groups confirming that they are together investing a total of at least $75,000 in such a
2.a designated venture capital fund confirming that it is investing at least $200,000 in a qualifying business or two or
more designated venture capital funds confirming that they are together investing a total of at least $200,000 in such a
3.a designated business incubator confirming that it is accepting the applicant into its business incubator program.
A qualifying business meets the following requirements:
•A corporation that is incorporated in and carrying on business in Canada is a qualifying business if, at the time the
commitment is made, both of the following are true:
• Each applicant holds 10% or more of the voting rights attached to all shares of the corporation outstanding at
• Applicants and the designated entity jointly hold more than 50% of the total voting rights attached to all shares
of the corporation outstanding at that time
In order to qualify for the Start-up Business Class, a business should be incorporated and carrying on business in
Canada at the time the commitment is made. However, consideration will be made for a qualifying business whose
incorporation is conditional upon the attainment of permanent residence by the applicant(s).