New Entrepreneur Visa Will Attract Business Leaders to Canada
On January 24th, 2013, Immigration Minister Jason Kenney announced that Citizenship and Immigration Canada (CIC) will be launching a new program dedicated to helping promising entrepreneurs open their businesses in Canada. Since the announcement, the Start-Up Visa Program has been labeled “historic”, and a “first of its kind” endeavor that will put Canada on the map for innovation and leadership in business development.
“Our new Start-Up Visa will help make Canada the destination of choice for the world’s best and brightest to launch their companies,” said Minister Kenney. “Recruiting dynamic entrepreneurs from around the world will help Canada remain competitive in the global economy.”
What is the Start-Up Visa?
The Start-Up Visa Program will begin accepting applications on April 1st, 2013. It is the newest program to fall under the business category of Canadian immigration. Specific information for individuals interested in applying has yet to be detailed. However, the most important – and original – aspect of the program has already been outlined at length.
At the heart of the Start-Up Visa Program is its plan to link successful applicants with mentor organizations in Canada. Designated organizations have extensive experience working with start-ups. They will provide guidance and business expertise to help visa recipients enter the Canadian labour market once they have arrived in the country.
Mentor organizations will be chosen from members of an umbrella group. Two such groups have already been identified: the National Angel Capital Organization and Canada’s Venture Capital & Private Equity Association. CIC has already begun working with these two groups to designate qualified member organizations that will participate in the Start-Up Visa Program. One additional group, the Canadian Association of Business Incubation, has also been tapped to pinpoint eligible business incubation organizations.
Individuals who wish to apply to this program will have to establish a partnership with a designated organization before submitting an application. If successful, they will receive Canadian permanent residency as well as the institutional support needed to succeed in their new home.
I am excited to learn that Canada has taken a bold step to recruit immigrant entrepreneurs. Keeping our country competitive on a global scale requires a global approach, and helping entrepreneurs become established in Canada certainly fits this description. I look forward to assisting some of these future business leaders with their immigration applications.
Business Immigration in Canada
The Start-Up Visa Program is the newest addition to a range of options available for businesspeople who wish to immigrate to Canada. In total, CIC anticipates that approximately 8,600 business immigration visas will be issued in 2013.
Currently, entrepreneurs can also immigrate to Canada through a range of provincial nomination programs.
Business immigrants are held in high esteem in Canada, as they help to create jobs and stimulate economic growth. Through the creation of the Start-Up Visa Program, the Canadian government has once again demonstrated that it places a high premium on attracting these valuable immigrants to its shores.
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