April 3, 2013
Start-Up Visa Program Now Open!
As of April 1st, 2013, the new Start-Up Visa Program is officially under way. The program is unique to Canada and has been implemented to encourage foreign entrepreneurs to come to Canada, create new jobs for and stimulate economic growth, benefits that the US wouldn’t mind for their own country. The US currently has no such program and entrepreneurs are turned down for visas and told to go elsewhere, primarily to Canada, the UK, Australia and Singapore.
A program such as the Start-Up Visa expects a limited number of applicants due to its narrow focus, but the focus is on quality not quantity and achieving a track record of success. Applicants will need to meet specific requirements such as language proficiency and securing designated investor commitments, but those accepted by the program will obtain immediate permanent residency. Citizenship and Immigration Canada has worked with Canada’s Venture Capital and Private Equity Association (CVCA) and the National Angel Capital Organization (NACO) in order to determine and designate the venture capital funds and angel investor groups that will participate in commitments with the Start-Up Visa applicants.
The initial Start-Up Visa Program will run for five years and will help Canada compete economically on a global scale.
Click here to learn more about the Start-Up Visa Program.