Start-up visa Canada: New Rules for Faster Processing for 2024

Improving processing times and reducing backlogs

Significant Changes for 2024

The Canadian government has recently implemented significant changes to the Start-up visa Canada, with the aim of improving processing times and reducing backlogs. These modifications are geared towards streamlining the application process and giving priority to promising start-up business ventures. In this article, we will delve into the key adjustments made to the program and explore their potential impact on SUV applicants.

start-up visa canada start up visa canada citizenship canada waiting time canada permanent residence

Key points about the Start-up Visa Canada

  1. Canada’s Start-up Visa (SUV) caps applications per designated organization (10/year) to speed up processing. This may increase competition for applicants.
  2. The cap aims for faster processing and prioritizes promising ventures with strong Canadian support.
  3. Existing applications and overall admissions for entrepreneurs are not affected.

Changes to the Start-up Visa Program 

The SUV program is designed to attract innovative entrepreneurs from around the world who can contribute to Canada’s economic growth.  On 29 April 2024, the Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship (IRCC), announced some important SUV program changes that took effect on April 30, 2024

One significant change is the introduction of a cap on the number of permanent residence applications that designated organizations can accept under the SUV category. Each designated organization will now be able to support a maximum of 10 start-ups per year. This cap is intended to foster a more focused approach, allowing designated entities to concentrate their support on a select number of high-potential ventures.

What are the implications of the Newly Introduced Cap?

These changes have several implications for applicants and the Canada SUV program as a whole. Firstly, the introduction of the application cap is expected to increase competition among entrepreneurs seeking support from designated organizations. With a limited number of spots available, applicants will need to present compelling and innovative business proposals to stand out from the competition and secure the support of a designated entity.

Secondly, the government’s decision to implement the cap demonstrates its commitment to addressing backlogs and improving the overall integrity of the SUV program. By limiting the number of applications, the government aims to streamline the processing times for applicants and ensure a more efficient program. This commitment to efficiency and integrity may also indicate that further reforms could be introduced in the future to enhance the sustainability and effectiveness of the SUV program.

ENQUIRE NOW



    Share this article

    Your Questions Answered

    To enhance your understanding about the recent policy changes, we will tackle several frequently asked questions, which will encompass crucial topics such as the application cap’s influence, the implementation timeline, the impact to existing and prospective SUV applicants.

    • Does the cap on applications affect overall startup entrepreneur admissions?

      No. The cap focuses on applications within the SUV program. The overall Federal Business Class admissions for entrepreneurs remain strong as outlined in the Government’s multi-year levels plan.

    • When does the cap take effect and how long will it last?

      The cap came into effect on April 30, 2024, and will remain in place until the end of 2026.

    • How will IRCC handle applications under the cap?

      Permanent residence applications received after April 30, 2024 that meet the cap requirements will proceed for processing. Applications received before that date will also be processed.

    • What happens to applications with pre-April 30th commitment certificates?

      Applicants with a commitment certificate issued prior to April 30, 2024 can submit their application through IRCC’s Permanent Resident Portal until November 1, 2024.

    • Will IRCC still accept group venture applications?

      Yes, group venture applications are still accepted. This option allows applicants to combine diverse skills and resources for a stronger business model.

    Start-up visa canada processing time

    In 2024, the Canadian government implemented changes to the Start-up Visa Program with the goal of reducing backlogs and speeding up processing times. While a cap on applications per designated organization may increase competition among SUV applicants, those with strong Canadian support and innovative business ideas are likely to see faster processing under the new system.

    How a Business Incubator Can Help You Stand Out Under the New Cap (2024)

    If you are seeking assistance in connecting with a business incubator, especially in light of the recent cap on applications, we are well-equipped to provide the necessary resources. Our team has established strong relationships with various business incubators across Canada, and we can leverage these connections to help our clients find suitable partners for their start-up ventures. Whether it’s identifying the right incubator, facilitating introductions, or providing guidance throughout the process, we have the expertise to assist our clients in accessing the support they need. We understand the importance of a strong network and are committed to utilizing our resources to ensure our clients have every opportunity to succeed in their immigration journey and beyond.

    Learn More

    If you are interested in learning more about the Start-up visa Canada program, we encourage you to reach out to your local Harvey Law Group office here for more details. Our lawyers would be delighted to schedule a free consultation to go over the program details with you.

    RELATED POSTS