Canada Start-Up Visa Program increases a whopping 70% in 2022

Highlights of Canada Start-Up Visa Program

• The start-up visa program of Canada is popular among entrepreneurial immigrants.
• Foreign nationals can get a Canada PR through it.
• Till June 2022, approximately 325 immigrants were granted the status of permanent residents.

Abstract: Canada would witness an additional 70% of immigrants gaining Canadian permanent residency through the Start-Up visa program.

The popularity of the program of SUV or Start-Up Visa is growing. Immigrants wanting to set up businesses is increasing. They can gain Canada PR or permanent residency through it.

By the first 6 months of the current year, 325 immigrants settled in Canada through this program. It put the country on the path to welcoming 650 immigrants through the program by the end of 2022.

If the current trend continues for the rest of the year, it would lead to an increase of 68.8%, approximately 70%, in the figure of 385 permanent residents in Canada through this program of last year.

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Details of the Canadian Start-Up Visa

Foreign nationals who wish to set up a business in the country can apply for a Canada start-up visa. The SUV program has been attracting entrepreneurial immigrants to Canada. In the current year, there would be a 150% increase in permanent residents facilitated by the program compared to its performance in 2020.

In 2019, the SUV program facilitated 515 immigrant entrepreneurs to attain Canada PR.

This year, the program will facilitate an additional 26.2% of foreign nationals to gain permanent residency status in Canada under entrepreneurship compared to the figures of 2019.

Here are the details of the number of immigrants gaining PR through Canada start-up visas:

Details of Start-Up Visa of Canada
Year	Number of Immigrants gaining Canada PR
2022 (till date)	325
2021	385
2020	488
2019	515

The SUV program's popularity has demonstrably grown even in the last six months. June witnessed a spike in immigrants coming through this program.

*Wish to migrate to Canada? Y-Axis, the leading Overseas immigration Consultant, is here to offer you guidance.

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Canada Start-Up Visa program

The immigrants applying for the Start-Up Visa program can come to Canada through a work permit aided by their concerned Canadian investor before the permanent residence application is processed.

The eligibility requirements for an SUV candidate are:

• A valid business
• Commitment certificate and Letter of Support from a nominated entity.
• Adequate funds
• Proficiency in English or French

There are 3 types of private-sector investors considered under the SUV:

• Angel investors – Funds of 200,000 CAD
• Venture capital funds – Funds of 750,000 CAD
• Business incubators – NA

The figures for 2022 are the highest number of permanent residents through the SUV program since it was launched as a 5-year pilot program in 2013.

Want to migrate to Canada?  Contact Y- Axis, the leading Overseas immigration Consultant.

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