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Canada Startup Visa Program Sees Rise in Latest Permanent Residents

May 2016, 06
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The startup visa program of Canada is continuing to develop, with as many as 51 entrepreneurs becoming Canadian permanent residents under the program till 2nd May 2016.

The successful candidates who represent around 26 startups that had started or would be starting soon in the Canadian communities that includes,  Victoria, Vancouver, Whistler, Calgary, Thunder Bay, Waterloo, Mississauga, Toronto, Fredericton, Halifax and Sydney.

This Startup visa program motivates foreign entrepreneurs to develop their firms in Canada. The successful candidates that are associated with the private sectors companies in Canada, where they could get guidance, funding and expertise in operating and opening their venture in Canada.

According to the Parliamentary Secretary  to IRCC, this startup visa program began slowly but ha steadily picked up the speed,  each start up which has been setup here in Canada has got potential to offer jobs and economic prospects for citizens of Canada, and can also contribute to the development and diversity of Canada.

The demand of this visa program is increasing, with over 50 extra applications for PR remains in process from entrepreneurs from across the globe who got the support of the designated venture capital fund of Canada, business incubator or angel investor group for launching their startups in the country.

The main objective of this program is to hire innovative overseas national entrepreneurs who would create fresh jobs and drive the economic development.

The eligibility criteria for the applicants under this startup visa programs is that the applicants need to meet the least requirement of English or French language, they should have finished a minimum a year of education at post secondary level,  they got enough funds to settle down permanently in Canada, intends to settle down in provinces of Canada other than Quebec,  they should pass medical and security clearances of  Canada.

Only five overseas citizens might apply for PR as part of similar business venture under this startup visa program.

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