Citizenship and Immigration Canada is currently in consultations to map out a new ‘Start-up visa’ for Entrepreneurs. The idea is to match innovative entrepreneurs, who have the potential to contribute to the economy, create jobs and compete in a global market, with private organizations that can assist the entrepreneur in building their business.
In September, Citizenship and Immigration Canada announced the idea of venture capital funds to support new start-up of entrepreneurs by investing in the business. Venture investment funds would choose candidates to invest in and CIC would approve them for entry to start. 2,750 visas would be set aside a year for start-up entrepreneurs and their families.The Entrepreneur stream has been suspended for almost a year, but previously only 700 visas were allocated for entrepreneurs.
“This program will link brilliant, job-creating, immigrant entrepreneurs with Canadian investors. We want the world’s best and brightest to come to Canada – to start businesses and to create jobs in Canada,” said Ms. Pavlich, press secretary of Canada’s Immigration Minister.
The new Entrepreneur stream has yet to be finalized and more details are expected later this year.