the Start-Up Visa program (SUV) has seen a 6.3% increase in new permanent residents arriving as entrepreneurs during the first half of this year compared to last year. Although the number of new permanent residents coming under the SUV slipped slightly in June, the trend is still upward.
The government’s Immigration Levels Plan for 2023 to 2025 allows for a significant increase, with 3,500 newcomers in the federal business category in 2023, rising to 6,000 by 2025.
The SUV program is expected to account for most of this allocation. British Columbia and Ontario have been the most popular destinations for immigrant entrepreneurs arriving under the SUV this year.
Canada’s Start-Up Visa program Guide 2023
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
How can I qualify for the Start-Up Visa Program?
You must fulfill all 4 eligibility requirements for the Start-up Visa (SUV) Program in addition to the requirements for entry into Canada in order to be eligible. You must:
- have a qualifying business
- have a letter of support from a designated organization
- meet the language requirements, and
- have enough money to settle and live in Canada
What is 2023-2025 Immigration Levels Plan?
On November 1, 2022, the 2023–2025 Immigration Levels Plan was introduced, defining the path for raising immigration levels to support Canada’s economic growth and meet labor market needs. The 2023–2025 Immigration Levels Plan will help Canada maintain its position as one of the top talent destinations in the world while reuniting families and fulfilling Canada’s humanitarian obligations, including the resettlement of Afghans who are in need of assistance.
With a stronger emphasis on regional immigration to spread the advantages of immigration across Canada, the Levels Plan gives economic immigration priority in order to support the development of a strong economy. More than half of all expected admissions are for the economic class.
On November 1, 2022, the 2023–2025 Immigration Levels Plan (Levels Plan) was introduced in Parliament. It included the following targets for admitting new permanent residents:
- 465,000 in 2023 (range: 410,000-505,000)
- 485,000 in 2024 (range: 430,000-542,500)
- 500,000 in 2025 (range: 442,500-550,000)
Want to know more details about “Immigrant entrepreneurs increased by 6.3% under the Start-Up Visa program in the first half of 2023” you can contact one of our immigration specialists at Gunness & Associates.
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