Bank Statement for the Canada Start-Up Visa
Canada's start-up visa gives permanent residence to founders backed by a designated organization. Beyond the support letter, IRCC requires proof of settlement funds — updated annually and scaled by family size — plus documentation that your money has a lawful, traceable origin. Bank statements carry both burdens. Here is how founders should prepare them.
Key Benefits
- Proves settlement funds meeting IRCC's family-size table
- Documents six months of history behind your fund balances
- Traces any recent large deposits to a lawful, explained source
- Separates personal settlement funds from startup capital
How It Works
- Step 1: Check IRCC's current settlement-funds table for your family size
- Step 2: Download 6 months of statements from every account contributing to the total
- Step 3: Convert them to Excel with Bank Statement Converter and flag deposits needing explanation letters
- Step 4: Obtain official bank letters stating balances and account history to pair with statements
Frequently Asked Questions
- How much settlement money does the start-up visa require?
- IRCC publishes a table by family size, updated annually — typically in the low-to-mid five figures CAD. Funds must be available and transferable, not borrowed.
- Why does IRCC want six months of history?
- To confirm the funds are genuinely yours rather than parked for the application. Recent large deposits without documentation are a leading refusal reason.
- Is startup investment counted as settlement funds?
- No. Money committed to the business is separate from the personal settlement funds you must show for your family's landing.
- Do all family members' accounts count?
- Funds held by you or your accompanying spouse qualify, with statements and bank letters for each account included in the application.
Convert Your Start-Up Visa Statements