According to a recent report from the Organization for Economic Cooperation and Development (OECD), Canada ranked the most attractive country for Immigrant Entrepreneurs compared to other OECD countries. There are currently 24 OECD countries including the United States, France, United Kingdom, Sweden, and Australia.
The report stated that there has been a growing interest from these countries in attracting foreign start-up founders and entrepreneurs to - promote innovation, job creation, foreign investment, and driving economies.
Immigrate to Canada as an Entrepreneur
The Indicators of Talent Attractiveness is a ranking system established by OECD that focuses on attracting immigrants by considering general factors and certain immigration policies - that target prospective international start-up founders and entrepreneurs. The system contains seven core dimensions such as market conditions & reach, access to capital, and level of digitalization & connectedness.
According to the ranking system, OECD found that Canada ranked among the top 25% across all dimensions in the framework, except for ‘skills environment’. Canada, along with Australia, is the only country that offers an option to apply for permanent residency - to all successful start-up visa applicants from day one.
The system justifies Canada’s strong culture of innovation and entrepreneurship to constantly attract prospective start-up founders and entrepreneurs.
Canada offers a variety of immigration pathways and work permits for entrepreneurs, investors, and self-employed persons. Some of the most popular ones include:
To create favorable environments for new and innovative businesses to thrive, the 24 OECD countries believe that there must be a mix of measures to develop entrepreneurial ecosystems, stimulate research and innovation and make sure that prospective founders have access to funding and relevant human capital.
Grabbing the #1 Destination for Immigrant Entrepreneurs in 2023, the Great White North continues to attract millions of aspiring entrepreneurs to the country to develop and build new business ideas. Its robust business environment and favorable government policies help potential candidates applying under Canada’s entrepreneur immigration program to reach new heights.
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