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Canadian Start-up Visa Program is Finally Picking Up the Stream

May 2015, 30
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Canadian Start-up Visa Program is Finally Picking Up
Citizenship and Immigration Minister of Canada, Chris Alexander has recently promulgated in a statement that 16 individuals have been accepted for permanent residency. Proponents further added that the federal government start-up program that has been put forth two years ago with a strong intention to grab the attention of more number of entrepreneurs has finally picked up the steam. 

Since the launch of this special visa program, 16 potential individuals have been given the permission for permanent residency, to support them in launching and growing the eight companies.   

All the successful applicants, as well as the companies under this special visa program, would be based in Halifax, Vancouver, Thunder Bay, Victoria, and Toronto. Few of the concerned officials of the government added in a statement that there are over 60 applications that are to be lately processed for Canadian permanent residency. And these are applicable to eligible entrepreneurs who are under 34 projects. As of the new reports, more 25 projects have attained financial assistance from the focused and enthusiastic investment cohort under the program. The subsequent step is for the eligible entrepreneurs in those schemes to apply for Canadian permanent residency. 

To qualify for this special start-up program, an overseas entrepreneur must first hold a minimum investment amount of up to 200,000 dollars for a chosen venture-capital funds or a minimum amount of 75,000 dollars from the selected angel-investor cohort. The program connects prospective individuals with the experienced and skilled start-up investors who could assist in their business development. 

Few of the concerned sources of the nation noted in a statement that the new model more suitable for incubators and investors who invest in the early-stage fund Overseas entrepreneurs are permitted to apply for permanent residency only after they secure a valid commitment from the chosen organization, said the sources.

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