New Canada visa program announced

Mr Kenney said the new Canada visa program, to begin in April, would be the first of its kind in the world and bring the Canadian immigration system further in line with the minister's goal of creating a system tailored towards the country's economic goals.

Canada has a history of encouraging foreign investment, a program in place since the 1970s offered residency to foreign entrepreneurs who opened small businesses such as kiosks and shops. However, Mr Kenney has spoken previously of his desire to encourage migrants with aspirations to start innovative businesses which have the potential to create more jobs.

The minister's latest initiative will set itself apart from similar investor visa programs by offering those who take it up permanent residency, rather than the conditional, temporary status offered in countries such as the UK and Australia.

Applicants must be sponsored by Canadian investors, have a sound business plan, meet English or French language requirements and pass the necessary medical checks.

The program, which will be rolled out in a five year pilot scheme, will initially take only 2,750 applications a year.

"Our new start-up visa will help make Canada the destination of choice for the world's best and brightest to launch their companies," said the minister, who is preparing to travel to California's Silicon Valley to attract new talent.

"Recruiting dynamic entrepreneurs from around the world will help Canada remain competitive in the global economy.

"Canada's future relies on today's entrepreneurs."