Building upon its already open immigration policies, Canada is now accepting applications for Canadian Start-up Visas designed for highly skilled individuals. Under this pilot program, foreign nationals backed by funding from a government-approved list of approximately two dozen Canadian venture capital firms or angel investor groups can seek immediate permanent residency.
The initiative is expected to offer up to 75,000 visas for immigrant entrepreneurs who invest a minimum of $100,000 in their ventures or secure equivalent funding. Proponents of entrepreneurship estimate that this program could generate between 500,000 to 1.6 million new jobs over the next decade.
Ottawa officials are capitalizing on the comparatively sluggish pace of immigration policies in the United States. Jason Kenney, a key figure in the initiative, highlights the presence of numerous talented IT specialists and entrepreneurs in the U.S. who are on temporary visas and facing uncertain residency prospects. To promote Canada’s new startup visa, Kenney visited Silicon Valley in 2023.
