Canada's Start-Up Visa Program Sees Increase in New Permanent Residents

the CanadaVisa Team - 05 May, 2016

Canada's Start-Up Visa Program continues to grow, with 51 entrepreneurs having now become permanent residents of Canada through the program as of May 2, 2016.

The successful applicants represent 26 start-ups that have launched or will be launching soon in communities across Canada, including Sydney, Halifax, Fredericton, Toronto, Mississauga, Waterloo, Thunder Bay, Calgary, Whistler, Vancouver and Victoria.

Successful applicants so far have come from Australia, China, Costa Rica, Egypt, India, Iran, South Africa and Uruguay, and work across a number of industries, including technology, food product manufacturing, education, medical research, banking, human resources, and advertising.

The Start-Up Visa program encourages international entrepreneurs to grow their companies in Canada. Successful applicants link with private sector organizations in Canada, where they can receive funding, guidance and expertise in opening and operating their enterprise in Canada.

"The start-up visa started slowly but has steadily picked up steam," said Arif Virani, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship. "Every start-up that is established here has the potential to provide jobs and economic opportunity for Canadians, contributing to our country’s growth and diversity."

Demand for this program is growing, with more than 50 additional permanent resident applications still in process from entrepreneurs from around the world who have the support of a designated Canadian venture capital fund, angel investor group or business incubator to launch their start-ups in Canada.

The purpose of this program is to recruit innovative foreign national entrepreneurs who will create new jobs and drive economic growth.

In order to be eligible, applicants for a Start-Up Visa must meet the following requirements:

• Meet minimum language requirements in English or French (CLB 5 in all abilities);
• Have completed at least one year of post-secondary education, during which the applicant was in good standing at their educational institution;
• Have sufficient funds to settle in Canada;
• Plan to settle in a province other than the Province of Quebec; and
• Pass Canadian security and medical clearances

No more than five foreign nationals may apply for permanent residence as part of the same business venture under the Start-Up Visa Program.

To learn more about the Start-up Visa Program, contact the Cohen Immigration Law: wp@canadavisa.com