Jul 28, 2017 | Business Immigration, Immigrate to Canada, In the News, Investor Immigration, New Immigration Programs, Permanent Residency
The Start-Up Visa Program, which was launched in April 2013, invites immigrant entrepreneurs to bring their business to Canada. The program allows entrepreneurs to obtain permanent residence for themselves and their family. This pilot program was aimed at attracting pioneering foreign entrepreneurs who would contribute to the Canadian economy. After evaluation of the pilot, it has been determined that the Start-Up Visa Program is delivering on its goals to bring innovative companies into Canada, which in turn creates more jobs for middle-class Canadian workers in a range of industries. With the success of the pilot, the government has announced that it will make the Start-Up Visa Program a permanent part of the immigration landscape for 2018.
As of July 15, 117 principal applicants have received permanent residence through the Start-Up Visa Program. This represents 68 start-ups that were launched in Canada as a result of this program. At present, there are more than 50 Canadian venture capital funds, angel investor groups, and business incubators designated to participate in the program. Entrepreneurs who participated in the program in the first 3 years received over $3.7 million in investment capital from designated entities to help them grow their business in Canada.
Innovative entrepreneurs who wish to apply for permanent residence through the Start-Up Visa Program must meet the following minimum eligibility requirements.
- Prove your business is supported by a designated organization;
- Show your business meets ownership requirements;
- Meet the minimum language requirements (CLB 5 in all areas) in English or French; and
- Show sufficient funds to settle in Canada;
If you have an innovative business idea, you may be able to bring this idea with you to Canada. Take our free online assessment to determine your eligibility or contact us today to speak with a licensed immigration consultant.
Jul 17, 2014 | Working In Canada
On July 16, Chris Alexander, Canada’s Citizenship and Immigration Minister, welcomed the first two successful applicants under the Start-up Visa Program, which is designed to attract more entrepreneurs and create jobs for Canadians.
Minister Alexander met with the entrepreneurs at GrowLab Ventures Inc. of Vancouver, the Canadian business incubator that is supporting Stanislav Korsei and Oleksandr Zadorozhnyi, formerly of Ukraine, in the development of their company, Zeetl Inc.
“As part of our government’s focus on job creation, economic growth and long-term prosperity, it is critical for Canada to attract the best entrepreneurs and innovators from around the world. Our government is proud to welcome the first successful applicants of the Start-up Visa Program and we look forward to the success of their venture and other opportunities that will help create more jobs for Canadians,” said Minister Alexander.
“We are very proud and excited for the founders of Zeetl as they enter this new chapter in their life here in Canada. The Start-up Visa Program enables talented foreign entrepreneurs like Stanislav and Oleksandr to grow their businesses, and is a great way for Canada to build a strong, vibrant economy.”
The Start-up Visa Program, launched in October 2013, is the first of its kind in the world. It brings together Canadian venture capital funds, angel investors and business incubators with entrepreneurs from abroad. Entrepreneurs present their business plan to Canadian private-sector firms and, if they receive support, they can apply for permanent residence in Canada.
With the Start-up Visa, Canada is targeting a new type of immigrant entrepreneur who has the potential to build innovative companies that can create jobs for Canadians and compete on a global scale. The program is part of the government’s plan to build a fast and flexible economic immigration system.
Minister Alexander said the government aims to persuade talented business people from India, Latin America and Europe to move to Canada.
“Our doors are open, our programs have integrity and we’re focusing immigration as never before on our economic needs as a country. And our reputation in the world for doing immigration well, for choosing incredible people and for helping them create successful lives in Canada … has never been stronger.”
