20 UGLOBAL IMMIGRATION MAGAZINE
“ The future of the Canadian Start-up Visa program lies only with the Fast-track stream .
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WHAT THESE CHANGES MEAN : APPLY WITH THE SUV FAST-TRACK STREAM OR DON ’ T APPLY
To have their file processed in a reasonable time frame ( within two years ), applicants must ensure they will benefit from the SUV Fast-track stream . To do so , they must invest significant capital and get support from a designated organization that benefits from this fast-track stream .
For someone applying for an SUV project that does not benefit from Fast-track , it is cheaper but officially takes longer , too . It could take 5 to 10 years to decide on their PR application . Indeed , there is a significant
risk of this stream being canceled before any decision is made . In 2012 , Canada stopped the Federal Immigrant Investor Program and reimbursed applicants for their processing fees even if some had already waited many years . Keeping history in mind , it doesn ’ t seem likely that Canada would maintain a startup stream ( incubator ) with delays that long because no startup technology project can remain pertinent under these conditions .
Since we are not fortune-tellers , it seems that the future of the Canadian Start-up Visa program lies only with the Fasttrack stream .
BY JULIEN TÉTRAULT
Julien Tétrault is the president of JTH Lawyers Inc ., based in Montreal . He has represented more than 1,000 immigrant investors from 75 countries . Tétrault started his career in business immigration for Canada in Hong Kong in 2002 , working exclusively with the Quebec Immigrant Investor Program ( QIIP ). He also founded and managed the Québec Lawyers Abroad association . Tétrault obtained his accreditation of president , directors and officers of Canadian financial institutions in 2014 .