On April 1 2013, Canada will launch the start-up visa programme, Citizenship, Immigration and Multiculturalism Minister Jason Kenney has announced.
The programme is targeting innovative immigrant entrepreneurs who will create new jobs and spur economic growth.
“Our new Start-Up Visa will help make Canada the destination of choice for the world’s best and brightest to launch their companies,” said Minister Kenney.
“Recruiting dynamic entrepreneurs from around the world will help Canada remain competitive in the global economy.”
Before entrepreneurs can apply for the brand new visa, they need to obtain the support of a Canadian angel investor group or venture capital fund.
Initially, Citizenship and Immigration Canada (CIC) will collaborate with two umbrella groups: Canada’s Venture Capital and Private Equity Association (CVCA) and the National Angel Capital Organization (NACO), it explained on its official website.
These groups will identify which members of their associations will be eligible to participate in the Program. CIC is also working with the Canadian Association of Business Incubation to include business incubators in the list of eligible organisations as soon as feasible.
The introduction of the new immigration program comes in light of a series of reforms to the Canadian immigration policy, aimed at attracting manpower that will solve a continuing labour shortage and will spur the economy.
Characteristic of these changes is the move towards more selective application criteria and an attempt to better streamline the influx of immigrants with the labour market demand.
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