The Canada Startup Visa Program aims to connect foreign entrepreneurs with Canadian business organizations. The focus is to support the entrepreneurs to build new and innovative businesses in Canada.
Immigrant Entrepreneurs with the support of designated business organizations can Apply for Canada Permanent Residency and set up their startup in Canada. Designated business organizations include angel investors, venture capitalists and business incubators.
The pilot of the program had been launched in 2013. It had led to 68 startup ventures being launched and brought in CAD $3.7 million in investment capital. The program also granted Permanent Residency to 117 immigrant entrepreneurs, as per Nearshore Americas.
The Govt. of Canada has declared that it has urged more than 50 angel investors, venture capitalists and business incubators to participate in the program. The Government has declared that the program will soon become permanent.
The eligibility for an immigrant entrepreneur for Canada Startup Visa Program is that they must be able to secure investment or support from a designated organization. Here is the minimum support or investment required:
- For a venture capitalist, the minimum investment required is CAD $200,000 into the immigrant’s business.
- For an angel investor, the investment is CAD $75,000 minimum in the business of the immigrant.
- For a business incubator, you need to accept the entrepreneur into any one of your incubation or acceleration programs.
Y-Axis offers a wide range of Visa and Immigration products as well as services for aspiring overseas students including Student Visa for Canada, Work Visa for Canada, Canada Migrant Ready Professional Services for Express Entry Full Service, Canada Migrant Ready Professional Services for Express Entry PR Application, Canada Migrant Ready Professional Services for Provinces, and Education Credential Assessment. We work with Regulated Immigration Consultants in Canada.
If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.
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