The people with  ideas for new business ventures and financial backing from Canadian investors, can apply to the brand-new Start-Up Visa Program as of April 1, said Immigration and Multiculturalism Minister Jason Kenney

According to Minister Kenney, innovation and entrepreneurship were essential drivers of the Canadian economy. With the new start up visa, the department focuses actively on recruiting foreign entrepreneurs who can build companies in Canada that would create new jobs, spur economic growth and compete on a global scale.

“Canada is open for business to the world’s start-up entrepreneurs,” said Minister Kenney. “Innovation and entrepreneurship are essential drivers of the Canadian economy. That is why we are actively recruiting foreign entrepreneurs – those who can build companies here in Canada that will create new jobs, spur economic growth and compete on a global scale – with our new start-up visa.”

Foreign entrepreneurs who want to apply for permanent resident status in Canada must:

  • Demonstrate Canadian Language Proficiency in Benchmark 5 in listening, speaking, reading and writing.
  • Have at least one year of education at a post-secondary institution
  • Pitch your business idea and secure a minimum investment commitment of $200,000 from a designated Canadian Venture Capitalist or at least $75,000 investment commitment from an approved Canadian Angel Organization. The designated investors for the Startup Visa Program were approved by the CIC with the help of the Canadian Venture Capitalist Association and the National Angel Capital Association. It’s a solid group of experienced investors in good standing .
According to Minister Kenney, innovation and entrepreneurship were essential drivers of the Canadian economy. With the new start up visa, the department focuses actively on recruiting foreign entrepreneurs who can build companies in Canada that would create new jobs, spur economic growth and compete on a global scale.

In hope of becoming a destination of choice for start-up innovators that will help Canada remain competitive in the global economy, the Start-Up Visa Program provides sought-after entrepreneurs with permanent residency and access to a wide range of business partners. It is the first of its kind in the world.

 The Start-Up Visa Program is a pilot program that will run for five years. It is expected that due to the narrow focus of the program, initially, the number of applications will be limited. However, the focus of the program will be on the quality of the applicants and on establishing a track record of success.
If you are interested in Immigration to Canada under start up visa programme, contact Student Visa  Expert for information and advice . We are looking forward to hearing from you.