Exciting Enhancements to Canada's Start-up Visa Program!!

Exciting Enhancements to Canada's Start-up Visa Program

I am thrilled to share some exceptional news with you! The Start-up Visa (SUV) Program, designed to provide foreign entrepreneurs with a path to Canadian permanent residence, has received significant enhancements. The SUV Program has always been a beacon of opportunity for those seeking to launch their innovative businesses in our fertile Canadian business ecosystem, and now, the opportunities are even more promising. Please do watch -https://www.youtube.com/watch?v=aQfFX2tJ0ug

Firstly, the 2023-2025 multi-year levels plan will allocate more spots to the SUV Program to address the extensive wait times faced by applicants. Specifically, targets for permanent residents in the Federal Business category for 2023 have tripled compared to 2022, with further increases planned for 2024 and 2025. This is an impactful step towards reducing the current application inventory and accelerating the processing time.

Moreover, in response to feedback from our valued stakeholders, Immigration, Refugees and Citizenship Canada (IRCC) will extend the temporary work permit for SUV applicants from one year to three years. This permit will no longer limit entrepreneurs to work solely for their own start-ups, providing them an opportunity to earn additional income while their permanent residence application is being processed.

This change will not only alleviate the financial stress on founders and their families but also make it easier for them to develop their business in Canada. Each member of the entrepreneurial team, not just those identified as essential and urgently needed, can now apply for this open work permit.

Prioritization of applications will be given to those backed by committed capital or endorsed by a business incubator that is a member of Canada’s Tech Network. This effort aims to prioritize founders supported by significant venture capital funds or angel investor groups, accelerating their journey to success and fostering a robust return on their investments.

Rest assured, this prioritization will apply to both current permanent residence applications in the backlog and newly submitted applications.

We eagerly anticipate the unveiling of additional strategies for addressing processing times and improving program effectiveness later this year.

This announcement heralds a new chapter in Canada's commitment to attracting international talent, fostering innovation, and stimulating our economy. We are looking forward to the blossoming of more international startups on Canadian soil!

Best Regards,

Manoj Palwe

Authorized Canadian Immigration Consultant and Member of CICC (R 422575) & CAPIC (R 11592)

Phone: 9822033225,

Website: www.dreamvisas.com

Email: [email protected], [email protected]