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.
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The content of this article reflects the personal insight of Attorney Colin Singer and needs no disclaimer
