CANADA – New Start-Up Visa To Be Launched 1 April 2013
Citizenship, Immigration and Multiculturalism Minister Jason Kenney has announced a brand new visa programme, to be launched on 1 April 2013, specifically for entrepreneurs who have investment support from within Canada.
Start-Up Visa Investment Criterion
Entrepreneurs who have the support of a Canadian angel investor group or venture capital fund can apply to the Start-Up Visa Program.
Initially, Citizenship and Immigration Canada (CIC) will collaborate with two umbrella groups: Canada’s Venture Capital & Private Equity Association (CVCA) and the National Angel Capital Organization (NACO). These groups will identify which members of their associations will be eligible to participate in the Program. CIC is also working with the Canadian Association of Business Incubation to include business incubators in the list of eligible organizations as soon as feasible.
Start-Up Visa Goals
The Start-Up Visa is a clear bid to attract highly skilled migrants to Canada. Jason Kenney, using terminology favoured by other immigration policy makers, notably those in the UK, has said “Our new Start-Up Visa will help make Canada the destination of choice for the world’s best and brightest to launch their companies.”
Other recent moves in Canada to attract skilled workers have included the permanent residence programme for skilled tradespersons and the re-opening of the Federal Skilled Worker Programme, scheduled for May this year. Canada, like much of Western Europe, faces an ageing population and skills shortages and is taking positive steps to address these issues.
Action Items
- Note the new route available for start-up companies from 1 April 2013
