{"id":125118,"date":"2023-08-10T13:35:23","date_gmt":"2023-08-10T17:35:23","guid":{"rendered":"https:\/\/immigration.ca\/start-up-visa-attracted-6-3-per-cent-more-immigrant-entrepreneurs-in-first-half-of-this-year-compared-to-last-year\/"},"modified":"2023-08-10T13:35:23","modified_gmt":"2023-08-10T17:35:23","slug":"start-up-visa-attracted-6-3-per-cent-more-immigrant-entrepreneurs-in-first-half-of-this-year-compared-to-last-year","status":"publish","type":"post","link":"https:\/\/immigration.ca\/fr\/start-up-visa-attracted-6-3-per-cent-more-immigrant-entrepreneurs-in-first-half-of-this-year-compared-to-last-year\/","title":{"rendered":"Start-Up Visa attracted 6.3 per cent more immigrant entrepreneurs in first half of this year compared to last year"},"content":{"rendered":"<p>The\u00a0<a href=\"https:\/\/immigration.ca\/start-up-visa-program\/\">Start-Up Visa<\/a>\u00a0(SUV) immigration program closed the first six months of the year with the number of new permanent residents coming to Canada as entrepreneurs under that program up by 6.3 per cent compared to the same period last year, reveals the latest data from Immigration, Refugees and Citizenship Canada (IRCC).<\/p>\n<hr \/>\n<p><b>Read more:<\/b><\/p>\n<ul>\n<li><a href=\"https:\/\/immigration.ca\/high-immigration-may-not-be-the-cause-or-the-answer-for-canadas-economic-underperformance\/\">High Immigration \u2018May Not Be the Cause or the Answer for Canada\u2019s Economic Underperformance<\/a><span class=\"Apple-converted-space\">\u00a0<\/span><\/li>\n<li><a href=\"https:\/\/immigration.ca\/immigration-in-2023-on-track-to-bust-record-high-targets-for-this-year-next-year-and-even-2025\/\">Immigration in 2023 on track to bust record-high targets for this year, next year and even 2025<\/a><\/li>\n<li><a href=\"https:\/\/immigration.ca\/fr\/how-to-immigrate-to-canada-as-a-engineer-officer-in-the-water-transportation-sector\/\">How To Immigrate To Canada As A Engineer Officer In The Water Transportation Sector<\/a><\/li>\n<\/ul>\n<hr \/>\n<p>Although the number of new permanent residents arriving under the SUV slipped by slightly more than 13 per cent in June, to 65 from 75 in May, the overall trend under the entrepreneur immigration program is still up.<\/p>\n<h3>SUV on track to welcome 670 entrepreneurs to Canada<\/h3>\n<p>In the first six months of this year, the\u00a0SUV\u00a0welcomed 335 new permanent residents, or 20 more than the 315 during the comparable period last year.<\/p>\n<p>Canada\u2019s <a href=\"https:\/\/immigration.ca\/start-up-visa-program\/\">Start-Up Visa Program<\/a>, designed to attract high-calibre entrepreneurs with the skills and attributes for business success, is set to see a sharp increase in numbers in the next three years.<\/p>\n<p>The government\u2019s Immigration Levels Plan for 2023 to 2025 allows for 3,500 newcomers in the federal business category in 2023, rising to 6,000 by 2025.<\/p>\n<p>The majority of this allocation is expected to come through the Start-Up Visa Program.<\/p>\n<p>The most popular destinations for immigrant entrepreneurs arriving under the\u00a0SUV\u00a0so far this year have been British Columbia and Ontario.<\/p>\n<p>The West Coast province of British Columbia had welcomed 125 new permanent residents through the\u00a0SUV\u00a0by the end of June while Ontario had received 155 new permanent residents through the program.<\/p>\n<p>Alberta added 20 new permanent residents through the program during the comparable period this year and Manitoba welcomed 35 immigrant entrepreneurs through the\u00a0SUV\u00a0in the first six months\u00a0this year. Nova Scotia added 10.<\/p>\n<p>None of the other provinces or territories added any new permanent residents through the\u00a0SUV\u00a0in the first six months of this year.<\/p>\n<p>The SUV is showing the fastest rate of growth in the Prairie province of Manitoba where the immigration program welcomed 40 per cent more newcomers in the first half of the year compared to the same period in 2022.<\/p>\n<p>Ontario\u2019s SUV rate of growth in the first six months of this year compared to the same period last year was 6.9 per cent. That was almost completely offset by a drop in British Columbia\u2019s performance where the SUV sagged by 7.4 per cent in the first half of this year compared to the same period in 2022.<\/p>\n<p>The\u00a0SUV\u00a0program generates much lower overall numbers of new permanent residents than federal worker programs, such as the\u00a0<a href=\"https:\/\/immigration.ca\/fr\/canada-express-entry-all-you-need-to-know-about-the-federal-skilled-worker-program\/\">Federal Skilled Worker<\/a>\u00a0(FSW) and\u00a0<a href=\"https:\/\/immigration.ca\/fr\/canada-express-entry-all-you-need-to-know-about-the-federal-skilled-trades-program\/\">Federal Skilled Trade<\/a>\u00a0(FST), the\u00a0<a href=\"https:\/\/immigration.ca\/fr\/provincial-territorial-nominee-programs-ptnp\/\">Provincial Nominee Programs<\/a>\u00a0(PNP) or the regional economic development programs including the\u00a0<a href=\"https:\/\/immigration.ca\/fr\/atlantic-immigration-pilot\/\">Atlantic Immigration Program<\/a>\u00a0(AIP) or\u00a0<a href=\"https:\/\/immigration.ca\/fr\/rural-and-northern-immigration-pilot\/\">Rural and Northern Immigration Pilot<\/a>\u00a0(RNIP).<\/p>\n<h3>Applicants under SUV can come to Canada on a work permit<\/h3>\n<p>Due to these smaller numbers, the monthly fluctuations in the number of new permanent residents under the\u00a0SUV\u00a0can sometimes seem exaggerated when examined in percentage terms.<\/p>\n<p>Candidates applying under the\u00a0SUV\u00a0program can initially come to Canada on a\u00a0<a href=\"https:\/\/immigration.ca\/fr\/visa-de-travail-canadien-travailler-au-canada\/\">work permit<\/a>\u00a0supported by their designated Canadian investor before their application for permanent residence is finalized.<\/p>\n<p>The entire process of applying for permanent residence to Canada through the\u00a0SUV\u00a0is currently estimated by the IRCC to take 37 months.<\/p>\n<p>Under the\u00a0SUV, three types of private-sector investors are considered:\u00a0<a href=\"https:\/\/immigration.ca\/canadas-start-up-visa-what-is-an-angel-investor-group\/\">angel investors<\/a>,\u00a0<a href=\"https:\/\/immigration.ca\/fr\/canadas-start-up-visa-what-is-a-venture-capital-fund\/\">venture capital funds<\/a>, and\u00a0<a href=\"https:\/\/immigration.ca\/canadas-start-up-visa-what-is-a-business-incubator\/\">business incubators<\/a>.<\/p>\n<p>A designated venture capital fund must confirm that it is investing at least $200,000 into the qualifying business. Candidates can also qualify with two or more commitments from designated venture capital funds totalling $200,000.<\/p>\n<p>A designated angel investor group must invest at least $75,000 into the qualifying business. Candidates can also qualify with two or more investments from angel investor groups totalling $75,000.<\/p>\n<p>A designated business incubator must accept the applicant into its\u00a0business incubator\u00a0program. It is\u00a0up\u00a0to the immigrant investor to develop a viable business plan that will meet the due diligence requirements of these government-approved designated entities.<\/p>\n<h3>Immigration lawyers can help immigrant entrepreneurs navigate Canada\u2019s start-up eco-system<\/h3>\n<p>Investing and the development of the business are usually done with the help of business consultants in Canada\u2019s <a href=\"https:\/\/immigration.ca\/canadas-strong-start-up-ecosystem-offers-many-advantages-for-immigrant-entrepreneurs\/\">start-up\u00a0ecosystem<\/a>\u00a0with oversight from\u00a0<a href=\"https:\/\/immigration.ca\/fr\/ircc-issues-canada-immigration-fraud-warning\/\">experienced corporate business immigration lawyers<\/a>\u00a0who can ensure a\u00a0start-up\u2019s business concept meets all industry-required terms and conditions.<\/p>\n<p>The basic government-imposed candidate eligibility requirements for the\u00a0SUV\u00a0are:<\/p>\n<ul>\n<li>a <a href=\"https:\/\/immigration.ca\/fr\/canada-start-up-visa-what-are-the-business-ownership-rules\/\">qualifying business<\/a>;<\/li>\n<li>a <a href=\"https:\/\/immigration.ca\/fr\/canada-start-up-visa-what-is-a-commitment-certificate-and-letter-of-support-and-how-do-i-get-one\/\">commitment certificate and letter of support from a designated entity<\/a>;<\/li>\n<li>sufficient unencumbered, available and transferable settlement funds to meet settlement funding, and;<\/li>\n<\/ul>\n<p>proficiency in English or French at the minimum Canadian Language Benchmark level 5. However, it frequently occurs that higher levels of English are needed to meet due diligence requirements imposed by designated entities.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Start-Up Visa\u00a0(SUV) immigration program closed the first six months of the year with the number of new permanent residents coming to Canada as entrepreneurs under that program up by 6.3 per cent compared to the same period last year, reveals the latest data from Immigration, Refugees and Citizenship Canada (IRCC). Read more: High Immigration \u2018May&hellip;<\/p>\n","protected":false},"author":498,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-125118","post","type-post","status-publish","format-standard","hentry","description-off"],"acf":[],"_links":{"self":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/posts\/125118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/users\/498"}],"replies":[{"embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/comments?post=125118"}],"version-history":[{"count":0,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/posts\/125118\/revisions"}],"wp:attachment":[{"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/media?parent=125118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/categories?post=125118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/immigration.ca\/fr\/wp-json\/wp\/v2\/tags?post=125118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}