In a world-first initiative, Canada has installed a new visa programme aimed at foreign entrepreneurs, in a bid to encourage economic growth in Canada. The programme could potentially see a rapid increase of foreigners relocating to Canada and a boost in the economy.
Aim of the Programme
The first two successful applicants under the Canadian Start-up Visa programme were recently welcomed to the country after the programme was launched last year.
Stanislav Korsei and Oleksandr Zadorozhnyi both come from the Ukraine and are together responsible for the development of Zeetl, an app that allows companies to monitor their social media pages for customer complaints. They have now been given a fast-tracked visa entry to Canada in the hopes that their business will create new jobs for Canadians.
Korsei and Zadorozhyni are the first examples of what this programme aims to achieve. Citizenship and Immigration Canada Mister Chris Alexander was there to welcome the new Canadian residents on his tour to visit key business leaders and discuss the importance of the programme.
"Our government is focused on long-term prosperity and economic growth for all Canadians. The Start-Up Visa Programme is helping to attract innovative entrepreneurs to Canada who can help create jobs and meet the needs of Canada's labour market. We will continue to work with business leaders who can support creative business ideas and help Canada compete on a global scale."
How it Works
The new Start-up programme offers successful applicants from abroad the chance to skip temporary visas and immediately apply for permanent residency in Canada. Providing the applicants can sustain their business, they will be able to remain in Canada for as long as they like. Additionally, in 2015, a new electronic application management system called Express Entry will be launched, which will permit economic immigrants to move to Canada in a faster and more effective manner.
Ready to Move to Canada?
In order to apply for the Start-Up programme, you need to have pitched your Start-up business idea to a Canadian angel investor group, venture capital fund or business incubator (from a designated list) and received a commitment of their support. Once commitment has been made, you'll then be able to apply for your Start-Up business visa. You'll also have to pass your standard health and security checks, in addition to proving your fluency in either English or French. Then, it's time to pack your bags - you're moving to Canada!