Canada’s Start-Up Visa (SUV) offers visionary entrepreneurs a fast-track to permanent residence by launching innovative businesses in Canada. Unlike some provincial entrepreneur streams, the SUV does not provide financial support; applicants must secure both investment funding for their venture and sufficient settlement funds to support themselves and any dependents.
Navigating these requirements can be complex, but with the guidance of a Regulated Canadian Immigration Consultant, you’ll gain clarity on exactly how much money you need, where it must come from, and how to present a winning application.
- Securing Venture Funding through a Designated Organization
To qualify for the SUV, you must obtain a Letter of Support from one of three types of IRCC-designated organizations:
- Venture Capital Funds
- Minimum investment: CAD 200,000 from a single designated VC.
- OR multiple VC investments totalling at least $200,000.
- Angel Investor Groups
- Minimum investment: $75,000 from one or more designated angel groups.
- Business Incubators
- Requirement: Acceptance into an approved incubator program (no specific dollar amount).
Tip: Incubator support generally requires the lowest upfront capital but comes with structured mentorship and workspace. Angel investors may demand a higher share of equity, while VCs seek scalable growth potential.
- Proving Settlement Funds (Updated July 29, 2025)
In addition to business financing, applicants must demonstrate unborrowed settlement funds to cover living expenses upon arrival. IRCC updates these figures annually based on the Low-Income Cut-Off (LICO).
Family Size | Funds Required (CAD) |
1 | $15,263 |
2 | $19,001 |
3 | $23,360 |
4 | $28,362 |
5 | $32,168 |
6 | $36,280 |
7 | $40,392 |
Each additional member | + $4,112 |
(Amounts as of July 29, 2025) Canada.ca
- Understanding Canada’s Cost of Living
Beyond upfront funds, it’s vital to budget for day-to-day expenses:
- Rent: Average asking rent in Canada was CAD $2,129 in May 2025, down 3.3% year-over-year. Purpose-built rentals averaged $2,117 Rentals.caMortgage Rates & Broker News.
- Groceries: A family of four typically spends around CAD $1,360 per month.
- Clothing: Average annual clothing spends per family of four is $1,800, with women’s expenditures about 76% higher than men’s.
- Utilities & Insurance: Home heating, electricity, and provincial health coverage gaps (newcomers often wait up to 3 months for provincial health insurance) can add several hundred dollars monthly.
- Transportation: Depending on the city, budget for transit passes or car payments, insurance, and fuel.
- Income Deductions & Net Take-Home Pay
Expect 25–35% of your gross pay to go toward:
Federal and provincial income taxes
Canada Pension Plan (CPP) or Quebec Pension Plan (QPP)
Employment Insurance (EI)
Union dues (if applicable)
Retirement or pension contributions
Factoring in both settlement funds and ongoing living costs ensures you hit the ground running.
- Why Work with Chugo Immigration Services?
- Expertise: As a Regulated Canadian Immigration Consultant, Pius Chukwuma Ekwulugo stays current with IRCC policy updates and market-driven cost metrics.
- Strategy: We’ll help you assess which designated organization best aligns with your business goals—and negotiate terms that protect your equity.
- Documentation: From your Business Plan to proof-of-funds documentation, we ensure every detail meets IRCC’s rigorous standards, minimizing delays and refusals.
- Ongoing Support: Post-landing services include introductions to settlement agencies, health-care enrollment guidance, and business-network opportunities.
Conclusion
Securing a Start-Up Visa in 2025 requires meticulous preparation of both investment commitments and personal settlement funds, along with a robust business plan that satisfies IRCC-designated investors and incubators. At Chugo Immigration Services, we guide you every step of the way—from selecting the right designated partner to presenting irrefutable proof of funds—and beyond, as you establish your business and life in Canada.
Ready to turn your entrepreneurial vision into permanent Canadian residency?
Contact Pius Chukwuma Ekwulugo today at Chugo Immigration Services for a personalized consultation and application roadmap.
