Canada, a country that already has one of the largest immigration program in the world, has launched today “Start-up Visa”, a new immigration visa program for entrepreneurs.
Foreign nationals who find Canadians investors for their business projects can enroll in the new “Start Up Visa” program to receive permanent residence in Canada immediately.
By creating the “start-up visa” program to attract foreign entrepreneurs, Canada is joining other countries such as Australia, Chile and United Kingdom – which have already been doing so – the major difference being that one who applies will receive immediate right of permanent residence in the country. Thus, Canadians hope that start-ups “of adopted children” will create lots of good jobs.
“We’re very conscious of the presence of thousands of brilliant young IT specialists and entrepreneurs in the States who are on temporary visas, running out of runway. Many of them have developed business concepts but can’t get permanent residency in the U.S.” said Jason Kenney, Canada’s Immigration Minister. Kenney will go to Silicon Valley next month to promote the “start-up visa” program because “they’ll be doing the primary recruitment. I anticipate there might be some action for us in India as well.” He encourages Canadians with money to invest in those young geniuses.
Jason Kenney announced that the program is not aimed solely at young people in the United States, but around the world, noting that the Citizenship and Immigration Canada will help those who manage to convince investors.
The “start-up visa” is a pilot program with an initial availability for 2,750 visas per year for entrepreneurs and their families, but it is estimated that the number will increase over time. “If a Canadian venture capitalist is going to invest in a startup, we’d rather that business in Canada than India or Silicon Valley or somewhere else overseas,” concluded Kenney.
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