Jaffe Road, Wan Chai, Hong Kong    +852 2169 0388

Canada relaunch its startup visa program, which targets immigrant business people

December 15, 2023

Reviving an old program opens up new doors for foreign investors in Canada as the nation accelerates the entry lane and puts a "entrepreneurs wanted" sign.

The startup visa program in Canada had a difficult beginning. The startup visa program only received 113 applications in its first three years as a pilot program, a far cry from the 6,000 applications it had hoped to draw.

However, the program’s low cost and creative approach were praised by the government, and the business community in Canada embraced it, which ultimately led to its permanent inclusion in Canada’s immigration system in 2018.

For several years, the number of applications was in the hundreds, but then it was cut in half as a result of border closures brought on by the pandemic. Although these figures have subsequently increased, the government now intends to turbocharge the program and send the yearly application rate through the roof.

The government has set ambitious targets for business immigrants entering Canada through the business startup visa program and the self-employed immigration program (a parallel program for businesses that employ only the principal, and occasionally family members) as part of a new immigration strategy that aims to quickly increase immigration levels to half a million new permanent residents per year by 2025. The goal of the government of Canada, as stated in the 2023–2025 Multi-Year Immigration Levels Plan, is to have 6,000 business immigrants annually coming through the programs by 2025.

The reasons for choosing Canada as your business startup location are quite straightforward. Canada is a welcoming nation founded on immigration and tolerance. It provides substantial government assistance to businesses, low business tax rates, and a plethora of initiatives to fulfill the aspirations of newcomers. Due to its remarkably resilient and stable economy, the nation consistently ranks among the best places to live.

The timing is perfect for potential immigrants who want to establish a business in Canada. Now is the best time ever to submit an application.

Share this post:

GET IN TOUCH WIH US

Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial free consultation, get in touch with us.

GET IN TOUCH WIH US

Simard & Associates helps clients apply for citizenship and residence under the applicable programs. To schedule an initial free consultation, get in touch with us.

Leave a Reply

PopupContactUs2

Want to Request a Consultation?

Please fill in the inquiry form below and our consultant will get in touch with you!

Request For Consultation EN