On March 30, 2013, Citizenship and Immigration Canada (“CIC”) published Ministerial Instructions that established the Start-Up Visa Program (“SUVP”). When initially established, the SUVP included a Venture Capital stream and an Angel Investor stream. However, on October 26, 2013, CIC published new Ministerial Instructions, which expanded the SUVP to include business incubators. It also began accepting applications under this new stream on October 26, 2013.
On January 24, 2013, Citizenship, Immigration and Multiculturalism Minister Citizen Jason Kenney announced that Citizenship and Immigration Canada would launch a Start-Up Visa Program to recruit innovative immigrant entrepreneurs who will create new jobs and spur economic growth. This program differs from existing investor and entrepreneur options to the extent that the entrepreneur will not need to be the source of investment capital. Such a program will enable entrepreneurs who establish start-up businesses using capital contributed by third parties, such as venture capital firms or angel investors, to seek permanent residence in Canada. The Start-Up Visa Program begins on April 1, 2013.
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