Start-up visa continues to grow

ShutterStock

More immigrant entrepreneurs are coming to Canada through the Start-up Visa Program and the benefits are spreading growth and opportunity to middle-class families across the country.

As of May 2, 2016, 51 entrepreneurs had become permanent residents of Canada through the program, representing 26 start-ups that have launched or will be launching in communities across Canada, including Sydney, Halifax, Fredericton, Toronto, Mississauga, Waterloo, Thunder Bay, Calgary, Whistler, Vancouver and Victoria.

“The start-up visa started slowly but has steadily picked up steam,” Arif Virani, Parliamentary Secretary to the Minister of Immigration, Refugees and Citizenship, said today. “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.”

The Start-up Visa Program is drawing successful applicants from a diverse range of countries, including Australia, China, Costa Rica, Egypt, India, Iran, South Africa and Uruguay, and across a number of industries, including technology, food product manufacturing, education, medical research, banking, human resources, and advertising.

This five-year pilot program allows entrepreneurs who have the support of a designated Canadian entity to apply for permanent residence as they establish their company in Canada. 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.