Canada targets overseas entrepreneurs

Canada targets overseas entrepreneurs
Published:  25 Jan at 9 AM
The Canadian government is hoping to attract overseas entrepreneurs to the country by offering permanent residency. Jason Kenney, the Immigration Minister, said he hoped the move would elevate Canada above countries including the US, the UK and Australia where only temporary residency was available.

Mr Kenney is due to travel to start up capital Silicon Valley in the US where he hopes to recruit the brightest and the best looking for a new and permanent home. The Start-Up Visa will begin to accept applications at the beginning of April.

All candidates will need sponsorship from a Canadian company and will have to pass the usual health and background checks. They will also be required to have post-secondary education, a good knowledge of French or English and a sound business proposal.

The Citizen and Immigration department will be in charge of assessing the applications. The pilot programme is due to last for the next five years and each year will accept a maximum of 2,750 applications. If it proves to be a success it will be made permanent.

The initiative will replace Canada’s entrepreneur program which has been in place since the 1970s and offers conditional residency to those coming in from overseas and opening small businesses, corner stores and mall kiosks.