Canada’s Start-up Visa Program Sees a Rise in New Permanent Residents

Canada’s Start-up Visa (SUV) program is gaining momentum, presenting promising opportunities for immigrant entrepreneurs. The program experienced a notable 6.3% surge in the number of new permanent residents arriving as entrepreneurs in the first half of this year in comparison to the previous year.

Despite a minor dip in June, the overall trend showcases an upward trajectory. The government’s recent Immigration Levels Plan for 2023 to 2025 amplifies this optimism. It earmarks a substantial increase in the allocation for immigrant entrepreneurs. As per the plan, 3,500 newcomers will be accommodated in the federal business category in 2023, with the figures projected to leap to 6,000 by 2025. The SUV program is anticipated to be the major contributor to this rising figure.

Regional highlights point towards British Columbia and Ontario as the top choices for these burgeoning entrepreneurs arriving under the SUV this year.

An added incentive for candidates eyeing the SUV route is the provision to initially enter Canada on a work permit. This permit is backed by their designated Canadian investor, ensuring a smoother transition until their application for permanent residence is finalized. As of now, the entire process from application to securing permanent residence through the SUV program is estimated to clock in at 24 months.

In light of these developments, for individuals and entrepreneurs keen on obtaining permanent residency in Canada, choose FRR Immigration as we help streamline the process and increase the likelihood of a successful transition to life in Canada.