UGLOBAL . COM 19
WHAT IS THE STATUS OF CANADA ’ S START-UP VISA PROGRAM ?
BY JULIEN TETRAULT
A look at the recent changes of Canada ’ s Start-up visa program and the importance of the SUV Fast-track stream .
Since 2018 , Canada made the Start-up Visa ( SUV ) program permanent , allowing startups with one to five business partners to get Permanent Residence in Canada if they launch a qualified startup , have enough funds , and have a basic language level .
The selection criteria , being quite vague and in appearance easy to meet ( no committed capital is required ), led many people to apply , especially since 2022 when the number of applications quadrupled . While the SUV program remains popular , Canada has placed it under review to limit its access because the exponential growth of new applications was “ too hot to handle .”.
Let ’ s look at the several “ game-changing ” events that became effective in 2024 :
• Since the beginning of the year , the previously announced fast-track has started to show results : while it would take up to two years to get a file number , it now only takes 6 to 9 months .
• Since April 2024 , Canada has imposed a quota drastically limiting the intake of new Start-Up Visa applications . While about 3,500 startup projects were submitted in 2023 , the intake is now capped at 800 projects per year for the next three years .
• Since October 2024 , SUV applicants can apply for a 3-year open work permit , which allows them to work for any company in Canada while launching their startup .
• Since October 2024 , the target of PR visa issuance in this category has been reduced from an expected 6,000 visas per year to 2,000 PR visas in 2025 , then 1,000 PR visa issuance per year for 2026 and 2027 . All other categories of permanent and temporary immigration have been affected as immigration targets are now reduced by 20 %, with a strong priority given to people already in Canada .
“ While the SUV program remains popular , Canada has placed it under review to limit its access .
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