Exciting news for Canadian angel investors and international entrepreneurs. On April 1, 2013 the Canadian government will launch a new program designed to bring the best and brightest entrepreneurs from around the world to Canada. The program will link entrepreneurs interested in developing their business in Canada with Canadian angel investors, with the ultimate goal of providing these entrepreneurs with Canadian permanent resident visas.
Canadian immigration policy is shifting towards a model where individuals will already have business, family or jobs in Canada on arrival, which is believed to be the best way to ensure successful economic establishment in Canada. For many years, Canadian permanent residents arrived only to return to their countries of citizenship so that they could continue running their businesses. Under this new program, the government will facilitate the establishment of businesses in Canada by linking up entrepreneurs with investors. Canadian immigration minister Jason Kenney asserts that this is not purely a financial investment, these angel investors have Canadian business experience and can lend their expertise and resources to these entrepreneurs which will help to make them even more successful.
Before an application can be submitted the entrepreneur will have to secure the support from a venture capital fund designated by Citizenship and Immigration Canada (CIC). CIC has already designated two umbrella groups who will decide which of its members will be eligible for the Canadian Start-Up Visa program: Canada’s Venture Capital & Private Equity Association (CVCA) and the National Angel Capital Organization (NACO).
Countries like Chile and the United States also have startup visas for entrepreneurs, Canada wants to be in the race to attract innovative entrepreneurs to its shores in exchange for permanent residence in one of the best countries in the world.
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