Canada Start-up Visa Program becomes permanent

The Start-up Visa program of Canada has now become permanent even as the nation attempts to attract Entrepreneur Immigrants all across the world.  The program has now transitioned from a pilot to permanent and is aimed at business people and entrepreneurs.

Canada is aiming to attract immigrants with entrepreneurial aspirations so that they launch new ventures and accentuate the economy.  The latest federal budget has allocated 4.5 million $ for the Start-up Visa Program for a period of 5 years. This is anticipated to be spent on enhancing the applicant-friendly features of the program.

Launched in 2013, the Start-up visa program was rare initially. It was then a program for business immigration with no minimum net worth and investment requirement, as quoted by the Immigration CA. It implied that a sole idea for a business that was viable could lead to Canada PR for the applicant including dependent members of the family.

The applicants of the Canada Start-up Visa Program are required to satisfy the 4 minimum requirements:

• Obtain a Letter of Support or Commitment Certificate from a designated entity
• Possess adequate settlement funds that are transferable, available and unencumbered
• Must have completed minimum 1 year of education at the Post-secondary level
• Prove adequate proficiency in French or English – CLB level 5

Canada has emphasized on the quality of the idea for the start-up. This has enabled the nation to attract quality global entrepreneurial talent. So far, around 3.75 million $ have been offered by designated entities as funds for fresh ideas submitted by prospective Canada PR immigrants. More than 25% of the applicants under the pilot program are from India. This demonstrates that they are increasingly choosing Canada over the US owing to Trump and his immigration policies.

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.