{"id":132026,"date":"2023-12-27T13:36:34","date_gmt":"2023-12-27T18:36:34","guid":{"rendered":"https:\/\/immigration.ca\/start-up-visa-immigration-set-to-more-than-double-in-2023\/"},"modified":"2023-12-27T13:37:57","modified_gmt":"2023-12-27T18:37:57","slug":"start-up-visa-immigration-set-to-more-than-double-in-2023","status":"publish","type":"post","link":"https:\/\/immigration.ca\/fr\/start-up-visa-immigration-set-to-more-than-double-in-2023\/","title":{"rendered":"Start-Up Visa Immigration Set To More Than Double In 2023"},"content":{"rendered":"

Immigrant entrepreneurship through the\u00a0Start-Up Visa<\/a>\u00a0(SUV) program bounced back in October, putting Canada on track to welcome 1,200 new permanent residents through that program by the end of this year based on the current trend, the latest data from Immigration, Refugees and Citizenship Canada (IRCC) reveals.<\/p>\n

In October, Canada welcomed 200 new permanent residents to Canada through the SUV, up 37.9 per cent over the 145 new permanent residents in September.<\/p>\n

That uptick in immigrant entrepreneurship in October comes on the heels of a drop of 17.1 per cent, from 175 new permanent residents, through the SUV from August to September.<\/p>\n

IRCC has allocated substantial planned admissions for permanent residence to Start-Up Visa applicants.\u00a0 <\/span>Whereas this number has only been 1,000 per year during the past few years, in 2023, 2024, 2025 and 2026 this number will increase dramatically to 3,500, 5,000, 6,000 and 6,000 respectively.<\/p>\n

The latest surge in SUV immigration sets a new record for monthly immigration through the program for this year, with the previous record being established in July.\u00a0<\/span><\/p>\n

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After welcoming\u00a065 new permanent residents under the entrepreneurship program in June, Canada saw a boom in\u00a0SUV\u00a0immigration of 107.7 per cent in July.<\/p>\n

By the end of October, Canada had welcomed 1,000 new permanent residents through the\u00a0SUV\u00a0this year, putting the country on track \u2013 if the current levels of\u00a0SUV\u00a0immigration continue through to the end of the year \u2013 for up to 1,200 new permanent residents to settle in Canada under the\u00a0SUV\u00a0by the end of the year.<\/p>\n

That level of\u00a0SUV\u00a0immigration would be 108.7 per cent higher than the 575 new permanent residents who immigrated to Canada under that program last year.<\/p>\n

In the first 10 months of the\u00a0SUV\u00a0this year, the program has welcomed 90.5 per cent more new permanent residents than it did during the comparable period last year.<\/p>\n

The most popular destinations for immigrant entrepreneurs arriving under the\u00a0SUV\u00a0so far this year have been Ontario and British Columbia.<\/p>\n

Ontario had received 635 new permanent residents through the program at the end of the first 10 months of this year and British Columbia had welcomed 240 through that immigration program during the same period.<\/p>\n

Alberta had added 20 new permanent residents through the program by the end of October, showing no change from the previous month, and Manitoba had welcomed 95 immigrant entrepreneurs through the\u00a0SUV\u00a0in the first 10 months\u00a0this year.<\/p>\n

Ontario Saw The Most\u00a0SUV\u00a0Entrepreneurs Arrive, Nova Scotia The Least<\/h3>\n

The only other province to see the arrival of immigrant entrepreneurs through the\u00a0SUV\u00a0this year has been Nova Scotia which had by the end of October welcomed 10, unchanged from the previous month.<\/p>\n

None of the other provinces or territories added any new permanent residents through the\u00a0SUV\u00a0in the first 10 months of this year.<\/p>\n

The\u00a0SUV\u00a0program generates much lower overall numbers of new permanent residents than federal worker programs, such as the\u00a0Federal Skilled Worker<\/a>\u00a0(FSW) and\u00a0Federal Skilled Trade<\/a>\u00a0(FST), the\u00a0Provincial Nominee Programs<\/a>\u00a0(PNP) or the regional economic development programs including the\u00a0Atlantic Immigration Program<\/a>\u00a0(AIP) or\u00a0Rural and Northern Immigration Pilot<\/a>\u00a0(RNIP).<\/p>\n

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

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