Canada considers starting new startup visa program

By beginning new Startup Visa program, Canada hopes to lure the next Steve Jobs or founder of Google.

Canada considers to float new ‘startup visa’ program—To import immigrants having brilliant business ideas, Canada is considering launch of a new visa program shortly.

To be named Canada new startup visa program, it will aim to lure foreign entrepreneurs who are creative and willing to invest in Canada. This special new immigration stream will target foreign entrepreneurs having good startup business ideas, Canada immigration minister Jason Kenney informed.

Have brilliant business ideas, Canada beckons you to come and set up business here. That’s exactly what the planned new startup visa program seems to convey to prospective immigrant entrepreneurs willing to immigrate to Canada.

He has launched nationwide consultations with industry associations for chalking out ways to attract budding immigrant entrepreneurs to the nation.

Job creation, Canada’s top priority—While speaking on the occasion, immigration minister Kenney said Canada government remains committed to job creation and long-term prosperity of the nation. He affirmed that Canada simply cannot afford to be a loser in the global competition for immigrant entrepreneurs.

And by inviting immigrant entrepreneurs to come and set up businesses here, Canada can look forward to creation of new jobs for Canadians, he maintained.

So, it must chalk out a plan to enable foreign entrepreneurs having innovative skills to take Canada to all new highs, Kenney asserted. If all goes well, the new immigrant stream for foreign entrepreneurs will run for a period of five years and the annual intake will be limited to 2,750 applications.

And it is not yet clear how many foreigners will be admitted successfully under this scheme.

Moreover, the fact whether entrepreneurs selected under this immigration category will come to Canada as permanent residents or on a conditional visa for working here is not known currently.

Once this trial is a success, the CIC (Citizenship and Immigration Canada) will consider introducing it in a formal manner through regulatory changes, Kenney informed. For this a new economic class will be required to be introduced in the Immigration and Refugee Protection Regulations by CIC.

At present, Canadian government is considering various small programs to allure foreign entrepreneurs. And the focus is to invite increased investment in Canada’s companies through innovative entrepreneurs.