Canada’s New Start-Up Visa for Permanent Residency Open

As of April 1st, Citizenship and Immigration Canada is now accepting applications from entrepreneurs under the new Start-Up Visa Program. This is the first entrepreneur program of its kind in the world, and Canada hopes to attract the brightest and most talented entrepreneurs who can build innovative companies, grow the economy and create job opportunities.

Two umbrella organizations have been working with Citizenship and Immigration Canada, Canada’s Venture Capital and Private Equity Association (CVCA) and the National Angel Capital Organization (NACO), to identify angel investors and venture capital funds that are interested in participating in the Start-Up program. Entrepreneurs must have the support of an angel investor or venture capital fund to apply for permanent residency. They must also secure a minimum $200,000 investment from a venture capital fund or a minimum $75,000 investment from Canadian angel investor group. A list of designated venture capital funds and angel investor groups can be found here.

Requirements:

• Letter of support from designated angel investor group or venture capital fund
• Have a minimum level of CLB 5 in either English or French in all abilities – speaking, reading, listening, writing
• Completion of at least one year of post-secondary education, with proof of being in good standing
• Have sufficient settlement funds for you and your family

Both the investor group and entrepreneurs must complete application forms for submission. It is expected the process will take approximately three to six months. 2,750 visas a year have been set aside for start-up entrepreneurs and their families.

For more information, please contact us.