Canada initiated the Start-up visa program in 2013 as immigration Pilot Project. As per the prior plans, this program is suppose to expire in the coming year, but the Federal Government of Canada is now keen to make it permanent- and give a long term pathway for overseas entrepreneur seeking Canadian permanent residency.
As per the statement of The Globe and Mail, the Minister of IRCC, Ahmed Hussen, on July 28 stated the Government plans for innovation, recognizing entrepreneurship and promote Start-ups within the Canadian economy- and the plan of making the Start-up Visa Program permanent backs this particular agenda. It has been stated that since the inception of this program years ago, over 117 people, who represented 68 companies, received the Start-up visas. Moreover, two of them had been taken by America companies.
What is the basic requirement of this program?
To be eligible for this program, an applicant must have a commitment from any qualified Canadian investors (whether start-up incubators, venture capitals or angel investors). Only the applicants who have secured an investment from the mentioned sources will be considered for visa application, says IRCC. The processing time involves a time period of 6 months.
Sources reveal that Mr Hussen, in order to make the process quicker, aims to introduce a more customer friendly online portal. Doing so will be easy to sort out the unqualified applications. Also, there is a proposal being made to allow Canadian Consular Officials to involve directly in linking their start-up/ accelerator networks & direct entrepreneurs towards the program.
Expressing support, Minister of Innovation Science & Economic Development, Mr. Navdeep Bains, said that this initiative along with the recently announced Global Skills Strategy clearly indicates the wide open doors of Canada in welcoming international talent. He said that the country is keen to welcome both skilled workers to work & entrepreneurs to create more work opportunities in Canada.
Canada’s permanent residency options are vast. Should you wish to know the best options for your immigration to Canada in 2017, feel free to ask our experts.