Start-Up Visa immigration on track for roughly 80% increase
According to Immigration, Refugees and Citizenship Canada (IRCC), the Start-Up Visa immigration saw a slight dip in September compared to August. Still, overall numbers are significantly higher than last year. In September 2023, Canada welcomed 145 new permanent residents through the SUV, down 17.1% from 175 in August.
However, this follows a record month in August, up 30% from July. IRCC plans to increase admissions substantially for Start-Up Visa applicants. Current annual admissions of 1,000 will rise to 3,500, 5,000, 6,000, and 6,000 in 2023, 2024, 2025, and 2026, respectively. As of September, Canada had welcomed 770 new permanent residents through the SUV, potentially reaching 1,027 by year-end. This would signify a 78.6% increase over the previous year.
The Start-Up Visa Immigration attracts more Entrepreneurs
The popularity of the Start-Up Visa (SUV) increased in August as 175 new permanent residents settled in Canada through the program, a 29.6% increase from July.
Immigration, Refugees and Citizenship Canada (IRCC) has planned to admit more Start-Up Visa applicants, increasing from 1,000 per year in the past few years to 3,500, 5,000, and 6,000 in 2023, 2024, and 2025, respectively.
This increase in immigration through the SUV in August was notable, considering the spike in immigration in July. By the end of August, Canada had welcomed 640 new permanent residents through the SUV, potentially reaching up to 960 by the end of the year if current immigration levels continue.
The Start-Up Visa program
The start-up visa program may make it possible for entrepreneurs to immigrate to Canada. Canada is on a search for bright entrepreneurs who are eager to start businesses that will boost its economy and offer job opportunities to its citizens. The Start-up Visa Program in Canada encourages immigrant business owners who have the skills and ability to start successful businesses in Canada:
- are innovative
- can create jobs for Canadians
- can compete on a global scale
Want to know more details about the “Start-Up Visa immigration on track for roughly 80% increase” you can contact one of our immigration specialists at Gunness & Associates.
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