Start-Up Visa Program Will be a Permanent Feature of Canadian Immigration

As announced by the government of Canada, the Start-Up Visa program is now a viable method to gain Canadian immigration for the entrepreneurs who are planning to launch their company in Canada. This program will serve as a consistent ingredient of Canada’s immigration for the year 2018.

The Immigration, Refugees and Citizenship Canada (IRCC) will finalize certain regulations in the succeeding months regarding permanent residence program. This will ensure seamless switch over once the prevailing pilot program will expire on 31, March 2018.

Reasons behind Launching Start-Up Visa program

The basic theme behind launching the Start-Up Visa program is to encourage immigrant entrepreneurs to launch their own companies in Canada. The successful applicants will receive necessary guidance and funding for starting, operating and managing their enterprise in the country. Over 50 angel investor groups, Canadian venture capital funds and business incubators are categorized to take part in this program.

After the launch of this program in 2013, a considerable number of 117 principal applicants have obtained their approval for permanent residence. The above-mentioned entrepreneurs relate to almost 68 Start-Ups working in Canada. The Canadian government is optimistic to witness an increase in the number of immigrant entrepreneurs over the period. This, in the end, will surely benefit the overall economy of Canada.

Canada’s Minister of Immigration, Ahmed Hussein shared following words while discussing the features of Start-Up Visa program.

“Every company launched in Canada with the help of the Start-up Visa Program has the potential to be a big win for Canadians by providing middle-class jobs and strengthening our economy,”. “Our government’s Innovation and Skills Plan has identified the nurturing of entrepreneurship and the growth of start-ups as vitally important to Canada’s present and future economy. Making the Start-up Visa Program permanent supports that agenda.”

Navdeep Bains is a Minister of Innovation, Science and Economic Development and a vital part of Hussein’s cabinet. He further added by saying that:

“Canadians benefit through the jobs that are created when entrepreneurs come from all corners of the globe to start businesses in this country. By making the Start-up Visa Program permanent, Canada will attract more innovative entrepreneurs who generate new business opportunities, create jobs and equip Canadians with the skills they need for the jobs of the future.”

Check Latest National Occupational Classification Canada

Eligibility Criteria

The eligibility criteria for the applicants who are willing to seek Start-Up Visa is as follows:

• Possess sufficient funds to reside and settle in Canada
• Fulfill least requirements for French or English language (Minimum CLB 5 score regarding all relevant abilities)
• Willing to reside in any of the Canadian provinces except Quebec
• Provide a valid proof with reference to the fact that the business holds a support of particular designated organization
• Must possess Canadian medical and security clearances certificate
• Prove that the business fulfills ownership requirements

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Note: A total of five foreign nationals are eligible to apply for Canadian permanent residence under Start-Up Visa program, who depict themselves as a part of the same business venture.