Immigrant entrepreneurs and businessmen considering where to base their start-up businesses are looking closely at Trump’s actions in the U.S and seeing Canada’s Start-Up Visa option as a reliable alternative.
Donald Trump this week temporarily suspend U.S. H-1B visas until at least December 31, 2020 – cutting off an important group of tech workers for major Silicon Valley companies as well as start-ups planning to become the next Google or Facebook.
The visas were halted under the guise of being part of the U.S. response to the COVID-19 pandemic, but in reality, this was an anti-immigration president introducing and enforcing another anti-immigration measure.
The message from the present U.S. government has been clear since Trump came to power in 2016: that immigrants takes away American jobs. It is a clear protectionist message that helped the Trump get elected in the first place, and one that he believes will help him win a second term this fall.
For immigrant entrepreneurs and businessmen considering the U.S. as a potential location for their start-up business, the uncertainties are building up, even away from the fact that American coronavirus cases are beginning to rise again.
Since Donald Trump was elected, many U.S. tech companies had already transferred staff to Canada to avoid increased red tape surrounding the H-1B visa program. Now, with the visa banned altogether, Canada is likely to become an even better alternative.
Canada’s federal government is considering an immigration-backed economic recovery, already preparing itself for an onslaught or rush of applications once COVID-19 restrictions are lifted.
While officials have acknowledged that Canada may not reach its pre-coronavirus immigration levels target of 341,000 new immigrants, everything possible has been done to keep the system moving during the Coronavirus crisis.
Canada’s Start-Up Visa Program, which offers Canadian permanent residence to high-calibre immigrant entrepreneurs, is becoming popular.
In 2019, the total number of newcomers approved admissions got to 510, more than double the 250 received in 2018. The figures have been steadily rising over the last five years.
The Start-Up Visa program has been praised and copied by many other countries, considered as another example of Canada’s innovativeness and flexible approach to immigration.
Canada is viewed as a major destination of choice for immigrant businessmen despite increased competition.
Through the SUV, Canada is able to swiftly bring in some of the world’s best talents, pairing them up with local investors to turn their business ideas into reality.
Once in Canada and managing their start-up business, individuals have access to the world’s most flexible immigration system, geared towards drawing tech talent.
It allows Canadian tech companies looking for high-quality talent they need, to do so within Ten (10) working days of identifying a candidate.
Once GTS candidates are in Canada, they can quickly apply for Canadian permanent residence via the Express Entry system.
With the H-1B visa banned until January of next year, Canada’s immigration landscape gives companies have a unique competitive edge to bring the best talent.
What Is Canada’s Start-Up Visa (SUV) Program?
Canada’s SUV Program offers permanent residence to eligible immigrant entrepreneurs.
The program targets innovative immigrant entrepreneurs and pairs them with private sector investors in Canada who will help them establish their start-up business.
Candidates can first come to Canada on a work permit backed by their designated Canada-based investor, before becoming eligible for Canadian permanent residence once their business is up and running.
Eligibility Requirements For SUV?
The basic eligibility requirements for the SUV are:
- Qualifying business.
- Commitment Certificate and
- Letter of Support from a designated entity
- Sufficient unencumbered, and transferable settlement funds.
- Proficiency in English or French language, at least Canadian Language Benchmark level 5.