The first batch of applicants to move to Canada through the country’s new Start Up Visa Programme is due to be approved in the coming weeks.
Although hundreds of applications have been received through the visa programme, which was introduced in April with the intention of bringing in foreign entrepreneurs through three streams – venture capital, angel investors and business incubators – the government says it has taken time to look through the applications and ensure the best candidates are selected.
“We always wish these things moved at the speed of business, which isn’t always the speed of policy making and government, but to be fair, this is one of the fastest implementation cycles for new immigration programmes in Canadian history,” explained Canada’s Citizenship and Immigration Minister Chris Alexander.
To qualify for the visa, applicants must first secure a minimum investment of CDN$200,000 from one of the designated venture-capital funds, or a minimum investment of CDN$75,000 from one of the angel-investor groups. There is no set amount of investment required for the incubator stream, but investors can provide funding.
Investors in each of the streams then put forward the candidates that they think should be granted a visa, but the final approvals rest with the Canadian government.
To find out more about this and other Canadian visas, visit: https://www.emigrate2.co.uk/canada/visas/
Article published 12th November 2013
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