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Canada Is Ready to Welcome Immigrant Entrepreneurs

Like most countries, Canada is making its way out of the global pandemic and slowly recovering from its effects.

However, unlike the United States where there is much debate about immigration policies, Canada has taken several approaches to welcome new immigrants.

Canada Is Open for Business

According to Canada’s former minister of Immigration, Refugees, and Citizenship, Marco Mendicino, launching the Startup Visa program shows that Canada is open for business.

This makes Canada among the two dozen countries that have passed a startup visa geared towards attracting immigrant entrepreneurs.

This is unlike America’s rigorous approach that requires immigrants to comply with complex immigration rules before working in the country.

This makes it difficult for entrepreneurs with innovative ideas to start businesses in the U.S.

Consequently, Canada has become a place of choice for entrepreneurs looking for greener pastures.

Entrepreneurs and Foreign Students Welcomed

In his Twitter account, Mendicino announced that Canada wants immigrant students who will later become entrepreneurs and tech founders.

This will help to boost economic growth and employment in Canada.

He also said that they believe that immigration is a competitive edge for Canada on the global scale.

The Canadian immigration minister noted that this was beneficial for the long-term demographic pressure, considering the country has a high ageing population and declining birthrates.

He said that immigration could help sustain Canada’s universal healthcare, retirement security, and public education.

However, Mendicino declined to comment on the U.S. immigration policy.

Canadian Immigration Increases

As part of its broader policy, Canada sought to welcome about 401,000 new permanent residents in 2021; a goal which the country reached and surpassed successfully (405,000 immigrants were approved for Canadian permanent residency in 2021).

This is about a 14% increase in new permanent residents from the previous target of 351,000 set before the COVID-19 pandemic.

Canada continues to develop approaches to increase the number of new permanent residents in the coming years.

For example, the Canadian immigration plan calls for granting permanent residency to a record 432,000 immigrants during 2022.

The majority of people who immigrate to Canada are approved through the Federal Skilled Worker Program, Provincial Nominee Program and other Canadian visa programs for skilled foreign workers and their families.

What Does the Startup Visa Program Involve?

The Startup Visa program allows entrepreneurs to immigrate to Canada and establish a business.

Although this Canadian immigration program started as a 5-year program in 2013, it was made permanent in 2018.

So far, the Startup Visa program has helped more than 200 immigrant entrepreneurs establish their businesses in Canada.

These entrepreneurs are now permanent residents in Canada and contribute to its economy.

Among those who have benefited from this program are three brothers, Massi, Martin, and Meti Basiri, who emigrated from Iran to Canada to further their education.

They later formed the Edtech Unicorn ApplyBoard, employing more than 500 people.

For this reason, Canada is offering more educational opportunities for immigrants so they can open startups and employ residents.

To qualify for this Canadian visa program, one needs to own a qualifying business, have proof of funds, and meet the English or French language requirements.

You also need to have a letter of support that proves a designated organization supports you.

Established organizations may include venture capital funds, business incubators, and angel investor groups.

Become a Canadian Entrepreneur

Overall, Canada is an immigrant-friendly country and is looking for talented entrepreneurs to start a business to create Canadian employment opportunities and stimulate the economy.

If you are an entrepreneur with an innovative business idea, you can apply for immigration to Canada through the Startup Visa program and establish your business in this immigration-friendly country.

Alternatively, if you become a Canadian permanent resident through another immigration program, you also have the option to start your own business in Canada if you so desire.

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