In 2013 the Canadian Federal Government launched a pilot program which allowed Immigrant investors and entrepreneurs to obtain a Canadian visa through their business ventures in the country. The program was so well received that Canada Immigration and Citizenship will institute the program as a permanently available visa option.
Canada attracted smart, innovative and talented business people to its shores by granting visas to those who would bring with them innovative, globally competitive companies who would employ a mostly Canadians – thereby creating job opportunities.
To be eligible for the visa entrepreneurs and investors must meet certain criteria which would facilitate economic growth in the country. Migrants applying for this visa must lay evidence that they have the funds and skillset to help Canada build an economy that will remain strong and growing.
Canada Immigration confirmed that the country is already reaping the benefits of the 4-year-old pilot program and subsequently the visa will become a permanent visa in 2018.
The pilot Start-Up Visa Program has already seen 117 entrepreneur immigrants been given the option to become permanent residents in Canada. Canada Immigration and Citizenship has capped the number of visas issued in this category at a healthy 2 700 places – considerably increasing chances of success.
“Canadians benefit through the jobs that are created when entrepreneurs come from all corners of the globe to start businesses in this country. By making the Start-up Visa Program permanent, Canada will attract more innovative entrepreneurs who generate new business opportunities, create jobs and equip Canadians with the skills they need for the jobs of the future,” commented Navdeep Bains, the Minister of Innovation, Science and Economic Development – an immigrant himself – on the success of the program.
The Canadian Start-Up Visa Program for immigrant entrepreneurs and investors offer several perks. The visa allows migrants to;
• become a permanent resident of Canada
• operate a business in an environment with a growing economy with:
• low tax rates
• high quality of life
• low business costs
• gain access to advisers, planning professionals and mentors through Canadian angel investor groups/venture capital funds/business incubators
• earn higher returns based on how successful the business is, and the percentage owned by the entrepreneur
The Pilot Start-Up Visa Program began in 2013, as a replacement for the Federal Immigrant Investor/Entrepreneur Program that ended in 2011.