Canada plans to make the Start-Up Visa program permanent in 2018

The Start-Up Visa Program was introduced in 2013 with the goal to facilitate foreign entrepreneurs to launch their business in Canada. Under this program, entrepreneurs and their family members can get permanent resident status in Canada. The program has so far brought tens of dozens of entrepreneurs to Canada. They have made an enormous contribution to the country’s economy.

The Start-Up Visa program has delivered on its objectives to introduce business innovations into the Canadian market. The program has remained successful at creating employment for Canadian people in different industrial sectors. Based on the success of the program, the Canadian government has planned to make the Start-Up Visa a permanent part of its immigration policy for 2018.

According to the statistics, 117 people have so far got permanent resident status under the Start-Up Visa program, which has led to the launch of 68 start-ups in the country. It is worth mentioning here that currently there are about fifty venture capital funds, investor groups, and business incubation centers that are taking part in the Start-Up Visa program. One of the best things that happened under the program is that entrepreneurs who came to Canada through the program got more than $3.7 million in investment capital within the initial three years. The funding boosted the growth of those start-ups.

To qualify for the Start-Up Visa program, you must meet some eligibility criteria. You must provide evidence that a designated organization in Canada is backing your start-up and that you meet the business ownership criteria. Also, you must be fluent in English or French or both and have enough money to settle in Canada. If you think that your business idea is unique, you may apply for the Start-Up Visa program. Or you can consult with an immigration attorney or consultant.

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