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Canada’s Start-up visa for entrepreneurs is growing in popularity among South Africans too

Canada Immigration and Citizenship is reporting a growth in the number of applicants interested in immigrating to the country through their Entrepreneurs Start-up Programme and South Africans are grabbing at the chance too.

Canada’S Start Up Visa For Entrepreneurs Is Growing In Popularity Among South Africans Too

At the beginning of May 2016 some 51 entrepreneurs had become permanent residents of Canada through the programme, representing 26 start-ups that have launched or will be launching soon added CIC.

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Based on information gathered from visa applications in this category these business are establishing themselves in communities across Canada, including Sydney, Halifax, Fredericton, Toronto, Mississauga, Waterloo, Thunder Bay, Calgary, Whistler, Vancouver and Victoria.

“The start-up visa started slowly but has steadily picked up steam,” said Arif Virani, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship.

“Every start-up that is established here has the potential to provide jobs and economic opportunity for Canadians, contributing to our country’s growth and diversity,” he added.

The figures also show that the start-up visa programme is drawing successful applicants from a diverse range of countries, including South Africa, Australia, China, Costa Rica, Egypt, India, Iran, and Uruguay, and across a number of industries, including technology, food product manufacturing, education, medical research, banking, human resources, and advertising.

What is the Entrepreneur Start-up Visa about?

This five- year pilot programme allows entrepreneurs who have the support of a designated Canadian entity to apply for permanent residence as they establish their company in Canada.

• Applicants must show a ‘Letter of Support’ from a designated investor group, venture capital fund or business incubator
• They must meet the ownership requirements for a qualifying business
• Applicants must prove proficiency in either English or French – Canada’s official languages
• Participants in this programme will also have to show evidence of adequate funds to be able settle and provide for their cost of living prior to earning an income
• To qualify for this visa applicants must investment a minimum of CD $200,000, if the investment comes from a designated Canadian venture capital fund, or CD $75,000, if the investment comes from a designated Canadian investor group.
• Visa must also be accepted into a Canadian business incubator programme.
“The demand for the programme is growing, with more than 50 additional permanent resident applications still in process from entrepreneurs from around the world,” added the Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship.

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