August 10, 2017 – The Start-Up Visa Program for Canada
entrepreneur immigration will be given permanent status in 2018,
after a five-year pilot was deemed a success.
The pilot was launched in 2013 as a pathway to
Canadian permanent residence for entrepreneurs looking to start
a company in Canada. Now, after 68 new companies were launched and
$3.7 million invested, the pilot will make a seamless transition to
permanent on March 31, 2018.
Critics would point out this represents limited success when
compared to Quebec, which accepts 1,900
immigrant investors annually. This generates nearly $275
million ($146,000 per investor) which is given to
qualified Quebec companies.
The program offers permanent residence status to an entrepreneur
provided a Canadian venture capital fund or angel investor group
has made a significant investment in their business. The pilot also
allows a business incubator to accept the candidate into their
program.
