In April of 2013, Canada introduced a new Visa for Business people which replaced the Entrepreneur Program.

Any individual that has a promising business idea or an innovative business that can compete globally as well as create employment in Canada can be offered permanent residency in Canada. The business idea must have support as well as a significant investment commitment from the designated Canadian Angel Investor Group or a venture capital fund. The committed investment must be at least CND $75,000, if it is coming from the Angel investor, or it must be at least CND $200,000, if it is coming from a venture capital fund.

Successful applicants must also meet any of the language proficiency criteria and they must possess at least one year of education in a post-secondary institution. This program is a pilot program that will run for 5 years. However, due to the very specific nature of the program, the number of applicants is limited to 300 per year.