Immigration Minister Jason Kenney announces the launching a new program that aims to help entrepreneurs start their businesses in Canada. The Startup Visa Program has been called a “historic” and “first-of-its-kind” offering from the Canadian government, and one that is expected to strengthen the country’s position in terms of innovation and leadership in the business development arena.
According to Minister Kenney, the new visa will help make Canada one of the world’s most promising destinations for businessmen to expand their ventures, and help keep the country’s competitive edge in the global economy.
Start-Up Visa Explained
On April 1, 2013, Citizenship and Immigration Canada (CIC) will begin accepting applications for the Start-Up Visa, Canada’s newest immigration program listed under the business category. Details as to the application process have yet to be announced, but the program has been outlined.
At the core of the Start-Up Visa Program is the government’s intention to provide a connection between successful applicants and mentor groups in Canada that have wide and substantial experience in start-ups. These organizations will guide visa holders as they attempt to penetrate the labour market upon arriving in the country.
The Startup Visa Program is aiming to attract Technology-based Business innovators to consider the Entrepreneur immigration program of Canada
Mentor groups will be selected from umbrella organizations, two of which have already been identified – Canada’s Venture Capital & Private Equity Association and the National Angel Capital Organization. The two are already coordinating with CIC for the task of designating qualified member groups that will take part in the program. Another organization called the Canadian Association of Business Incubation is also being considered to identify eligible start-up groups.
Those who want to apply to the program need to establish partnership with a designated group prior to submitting their applications. Successful applicants will be granted Canadian permanent resident status and institutional support they can use to settle in their new homes.
Canadian Immigration for Business Entrepreneurs
Businesspeople who want to move to Canada for good have another option in the Start-Up Visa Program, the latest addition to the list of immigration programs that they consider. CIC is anticipating to issue at least 8,600 business immigration visas by the end of 2013. There is currently a whole range of provincial nomination programs that entrepreneurs can explore.
The Canadian government highly values businesspeople for the economic growth they help spur through the job opportunities they offer. With the creation of the Start-Up Visa Program, this high esteem for foreign entrepreneurs is once again demonstrated.