There have been reports that the government and Citizenship and Immigration Canada will be introducing a new entrepreneur stream by the end of the year.
As some readers may know, the previous entrepreneur stream was suspended in 2011.
The Canadian government wants to attract a new kind of entrepreneur who will generate jobs and sustainable growth in certain industries.
The government will be looking for entrepreneurs in the technology, energy and environmental fields, and will be particularly interested in those individuals who can bring innovations in those fields to Canada.
The entrepreneur who will open a retail store is not the sort of entreprenuer that the government will target nor accept under the new program.
The government has also indicated that it will do away with the “conditions” of the previous program, whereby individuals who did not continue to qualify or meet conditions essentially had their permanent residence revoked.
This caused a great deal of uncertainty for applicants, and an administrative nightmare for Citizenship and Immigration Canada officers trying to assess the activities of entrepreneurs who had landed in Canada and who were operating a business.
The new program should see expedited permanent residency (meaning files will be approved much faster) and no (or few) conditions once the individual arrives in Canada.
We are eagerly awaiting the new rules when the program is rolled out later this year.