New Entrepreneur Visa Program in the Works

04/24/2013

CIC launched a new pilot program to attract entrepreneurs. The Start-Up Visa Program, which opened for applications on April 1, 2013, links immigrant entrepreneurs with experienced private sector organizations that have expertise in working with start-ups. 

Before applying, foreign entrepreneurs will require the support of a designated Canadian angel investor group or venture capital fund. They will also have to meet certain criteria regarding language proficiency and educational qualifications.

The program is unique in that most countries with immigrant entrepreneur programs attach conditions to the immigration status of the entrepreneur, such as the need to create a certain number of jobs. By granting permanent resident status up front, Start-Up Visa allows immigrant entrepreneurs to take risks and potentially build innovative companies that can compete on a global scale.

The pilot will run for up to five years.
 

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