Canada Start-Up Visa Immigration Doubled in 2023

Highlights: Canada SUV Immigration Doubled in 2023

• The number of immigrants who entered Canada via the Start-up Visa program doubled in 2023.
• The data shows 1,145 new permanent residents were welcomed in the first 11 months of 2023.
• There was a 104.5% increase in the arrival of immigrants via the SUV program.
• Ontario and British Columbia were the top two favourite choices for SUV immigrants.

 

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Canada Start-Up Visa (SUV)

The Start-up visa program offered by Canada is for entrepreneurs with the skills and the ability to establish a business in Canada. Candidates can apply for the SUV program and enter Canada with a work permit backed by a Canada-based investor before applying for a PR. The processing time to apply for PR via the Start-up visa program takes around 37 months.

The SUV program considers three types of private-sector investors:

• Venture Capital Funds
• Business Incubators
• Angel Investors

 

 

Eligibility for Canada Start-up visa

The eligibility requirements to apply for a Start-up visa are as follows:

• The candidate must have a qualifying business
• The candidate must have received a letter from a dedicated organization
• The candidate must fulfill the language requirements
• The candidate must have sufficient funds for settlement

 

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Canada SUV Stats

The IRCC released the latest data on immigration via the Canada Start-Up visa program. As per the data, the number of immigrants that entered Canada in October had a 37.9% increase compared to September 2023.

1,145 immigrants were invited for PR via the Canada visa in the first 11 months of 2023.

Month	Number of PRs issued
September	145
October	200
November	135

 

The IRCC allotted a certain number of admissions for PR via SUV. The table given below has details of the year-wise division of PR allocations:

Year	Number of PRs
2024	5000
2025	6000
2026	6000

 

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Province-wise Breakdown of SUV Immigrants in 2023

British Columbia and Ontario remained the top choices for Start-up visa immigrants. The table given below has province-wise SUV Stats.

Province	Number of PRs issued
Ontario	725
British Columbia	265
Alberta	20
Manitoba	120
Nova Scotia	15

 

 

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For recent Immigration updates, do check out: Y-Axis Canada Immigration news

 

29,000 Migrated to Canada under PGP program in 2023

Canada PNP Draws: Ontario, Saskatchewan and BC issued 1899 ITAs

 

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