Canada’s federal government officially made its call for the world’s best and brightest entrepreneurs. The Startup Visa Program was introduced by ministerial instruction in April 2013. This presents a unique opportunity for willing and able Entrepreneurs to gain permanent residence in Canada on an expedited basis by using their new business startup idea as a vehicle to achieve the same.
The Start-Up Visa program grants Canadian permanent residence to qualified immigrant entrepreneurs. The program aims to recruit innovative entrepreneurs to Canada and link them with the Canadian private sector businesses via angel investor groups, venture capital funds or business incubators. The goal is to better facilitate the establishment of the start-up business in Canada.
Under the Start Up Visa program, a successful candidate will receive a letter of support from an Angel Investor group, Venture Capital fund, or Business incubator approved by the Government of Canada. These government-designated entities are primarily responsible to vet business plans and determine the viability of the applicant’s intended business. Their endorsement results in a Commitment Certificate that will be sent to Canadian immigration authorities. Applications under the Start Up Visa are assessed on a pass-fail basis.
The Government of Canada has stated that its goal is to fuel the program with resources, business mentors and most importantly, permanent residency. This program is designed to make Canada a first-class choice for the world’s high potential foreign startups. However, its implementation has been subject to much controversy. The introduction of the Start Up Visa program was met with much fanfare, but the number of successful applications through the start up visa program has been so low that it has led many observers to be very critical of its effectiveness. Other permanent residence granting Business Immigrations programs continue to be more effective than the Start Up visa.
Get a started with your Startup Visa Application
If you are interested in immigrating to Canada under the Start Up Visa Program, please contact Eddie H. Kadri for a comprehensive assessment of your ability to meet current program qualifications. Interested applicants will be counseled on whether the Start Up Visa is the best vehicle to form viable Immigration plan that can potentially facilitate both your long and short term objectives.