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.
On December 30, 2011, Citizenship and Immigration Canada (“CIC”) issued Operational Bulletin 373 (“OB 373”). OB 373 provides additional information relating to the Excessive Demand Cost Threshold (the “Demand Threshold”) for 2012, which became effective on December 1, 2011.