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Canada is touting its recently-introduced Start-Up visa as an alternative for immigrants who were planning on immigrating to the United States on an H1B work visa. In fact, Citizenship and Immigration Canada has bought a billboard in Silicon Valley saying, “H1B problems? Pivot to Canada. New Start-Up Visa. Low Taxes.”
The H1B work visa is a popular visa in the United States, and a favourite of technology companies who are always looking to bring new skills and innovation to their companies. However, these companies are limited by the fact that there is a cap on these visas with only a certain amount available every year, and they go pretty quickly.
Immigrant entrepreneurs who have a great business idea are welcome to apply for a Start Up Visa. In doing so, they will pitch their ideas to investors in hopes of securing an investment in their idea. When they obtain that investment, they are approved for a Start-Up visa and can obtain permanent residency.
By offering applicants permanent residency in Canada, the government is able to attract more people to apply for the Start-Up visa because it’s a much bigger incentive. While some work visas in the United States can lead to permanent residency, it is not as direct of a pathway as this one. The United States’ immigration policies are more favourable to family reunification as opposed to economic immigrants who can help the country grow.
Are you an immigrant entrepreneur who has a great idea, and wants to bring it to Canada? Canada is waiting for you! Our award-winning immigration law firm can help you through the process, just give us a call.
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