Canada is planning a new system that invites expat entrepreneurs into the country to create more money for the economy and also to generally aid the business landscape.
Expat entrepreneurs will be offered a new ‘start-up visa’ provided they display the necessary enterprise to create new business that will create new jobs for native Canadians.
It’s believed that the system will be limited to a 2,750 a year immigrant cap with a five year total span, meaning around 13,750 expats could venture to the country.
Jason Kenney, Canada’s Immigration and Multiculturalism Minister, said: “Our government is committed to strengthening the immigration system to make it truly proactive, targeted, fast and efficient in a way that will sustain Canada’s economic growth and deliver prosperity for the future. Canada cannot afford to lose out in the competition for foreign entrepreneurs among immigrant-receiving countries. We need to proactively target a new type of immigrant entrepreneur who has the potential to build innovative companies that can compete on a global scale and create jobs for Canadians.”
Canada has long been an attractive destination for British expats, and this is not the first time the country has made efforts to entice more skilled foreign individuals in.