Canada’s immigration Startup Visa Program will allow Canada to attract the world’s brightest entrepreneurs by making it easier for foreign entrepreneurs to get visas.
For immigrant entrepreneurs to qualify for the visa, they must secure funding from designated Canadian investors, as well as meet certain additional criteria.
The program was designed together with Canada’s Venture Capital and Private Equity Association (CVCA) and the National Angel Capital Organization (NACO) to help spur economic growth. By working together with investors, foreign entrepreneurs will be developing new businesses and creating jobs, especially in the high-tech field
Immigrant entrepreneurs, if accepted, will obtain immediate permanent residency. To qualify immigrant entrepreneurs need to secure a minimum investment of $200,000 from a designated Canadian venture capital fund or $75,000 from a designated Canadian angel investor group. Venture Capital and Private Equity Association and the National Angel Capital Organization, will work with Citizenship and Immigration Canada to pick those eligible for the program.
Applicants will also have to meet language proficiency criteria and have at least one year of post-secondary education.
The Immigration Startup Visa Program Canada could become a new economic class for Canada’s Citizenship and Immigration if successful.