Having Trouble Understanding The Start-Up Visa? Just Think “Dragon’s Den”
When you consider that the new Start-Up visa in Canada works a lot like the popular Canadian television show “Dragon’s Den”, it makes a lot of sense.
Previous information released about the Start-Up visa says that immigrant entrepreneurs will have an opportunity to work with designated mentors and investors, but in actuality they have to pitch their idea to select Canadian investors.
Just like on the television show, the entrepreneurs will have to pitch their idea to a panel of investors and they will have to make a great case for themselves and their idea.
Start-Up visa leads to permanent residency in Canada
The investors in question must like the idea they’re hearing and see how it will work from a business and investment perspective. When they decide they like an idea, the entrepreneur will be able to obtain a permanent resident visa.
The entrepreneur must be able to obtain a certain amount of funding from the investors, after which they are able to obtain the visa subject to various permanent residency requirements. In addition, if the business were to fail the entrepreneur would still be able to retain their permanent resident status.
This Start-Up visa is very exciting and it will be interesting to see what kind of ideas these entrepreneurs will be able to come up with.
About Michael Niren
Michael is a graduate of Osgoode Hall Law School in Toronto. He is a member of the Law Society of Upper Canada, the Canadian Bar Association’s Citizenship and Immigration Section and the Associate Member of the American Bar Association. Read more
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