Canada’s Start-up visa continues to grow
Canada’s Start-up Visa Program continues to grow, allowing an increased number of new immigrant entrepreneurs to come to Canada. The Start-up Visa Program focuses on immigrant entrepreneurs who have the skills and ability to develop innovative businesses in Canada that can create jobs for Canadians and compete globally.
The five-year pilot program allows entrepreneurs who have the backing of a designated Canadian entity to apply for permanent residence as they establish their company in Canada.
As of May 2, 2016, 51 successful entrepreneurs have become permanent residents of Canada through the Start-up Visa Program, communities across Canada, including Sydney, Halifax, Fredericton, Toronto, Mississauga, Waterloo, Thunder Bay, Calgary, Whistler, Vancouver and Victoria has benefited from 26 new start-ups that have launched or will be launching in the near future.
“The start-up visa started slowly but has steadily picked up steam,” Arif Virani, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship, said today. “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.”
The Program selects successful applicants from a diverse range of countries, including Australia, China, Costa Rica, Egypt, India, Iran, South Africa and Uruguay, who immigrate to Canada with skills from a variety of industries, including technology, food product manufacturing, education, medical research, banking, human resources, and advertising.
Demand for this program is growing, with more than 50 additional permanent resident applications still in process from entrepreneurs from around the world who have the support of a designated Canadian venture capital fund, angel investor group or business incubator to launch their start-ups in Canada.