Since the US government has tightened the visa policy for Indian techies, Canada is emerging as the new destination for Indian entrepreneurs and venture capitalists.
Canada is providing better infrastructure and norms for Indian entrepreneurs to invest their talent more into that country.
While speaking to Times of India, Canada’s immigration minister Chris Alexander said, “We are telling all brilliant young technology minds, ‘if you can get Canadian venture capital, or an angel investor to back you with funds or just with their time, we offer you permanent residence.’ No one else in the world does that. It’s a pilot project and we already have a couple of hundred applications in process.”
“If an Indian wants to buy a Canadian company, he is most welcome. If they are there as the manager or the principal for a year they can apply to be a permanent resident,” Alexander added.
In recent years Vancouver has provided facilities to biggies like Amazon, Facebook and Microsoft to open their companies by taking advantage of easier immigration and visa rules.
“We are an immigration country. We have built our success on immigration and we have protected that legacy through the economic crisis of 2008-09. We are still a growth play, whether in the technology and resource sectors or finance,” Alexander explained.
“We have three countries that are in a league of their own as sources of immigration – China, India and the Philippines,” he added by saying, “We have reformed, we have evolved.”
On permanent residence visa, Alexander said, “It only requires you to be in Canada for two years out of five. So someone who is global and wants to go back and forth can do tha- be a Canadian permanent resident while doing some part of business here (in India).”
Tags: canada Immigration law Indian techies US
