Y-Axis Immigration Services

Sign up for free

expert consultation

Down Arrow

I accept the Terms & Conditions

Icon
Don' know what to do?

Get Free Counseling

Posted on March 22 2024

500 Canada Permanent Residence issued to Start-up visa candidates in Jan

profile-image
By  Editor
Updated March 22 2024

Listen to this article

Highlights: 500 new permanent residents arrived in Canada through the Start-up visa program

  • A new record was set by Canada’s Start-Up Visa (SUV) entrepreneur immigration program last year, and around 1,460 new permanent residents arrived in Canada through this program.
  • Canada’s Start-Up Visa (SUV) program was launched in 2015.
  • In January 2024, nearly 500 immigrant entrepreneurs became permanent residents.
  • British Columbia and Ontario remain the most popular destinations for Start-up visa immigrants.

 

*Want to check your eligibility to Canada? Try the Y-Axis Canada CRS calculator for FREE and get an instant score.               

 

Canada’s Start-Up Visa program

Canada is looking for talented entrepreneurs who are willing to invest and start a business in the country. Canada’s Start-up Visa Program, also called the SUV program of Canada, is a pathway for qualified entrepreneurs. This program allows entrepreneurs to migrate to Canada to establish a new business.

 

According to the latest data from IRCC, nearly 500 immigrant entrepreneurs got Permanent Residence in Canada in January 2024 through the Start-up Visa Program.  In 2023, Canada’s Start-Up Visa (SUV) Program set a new record by issuing 1,460 new permanent residents. This number broke the previous record of 575 new permanent residents in 2022.

 

The first month of 2024 saw the highest number of immigrants getting permanent residents through the SUV program. If this continues, around 5,880 new permanent residents will be invited by the end of this year.

 

*Looking for Canada’s Start-up Visa? Y-Axis will help you with the step-by-step process.

 

The SUV program generates new permanent residents than federal worker programs, such as the Federal Skilled Trade (FST) and Federal Skilled Worker (FSW), the Provincial Nominee Programs (PNP) or the regional economic development programs including the Atlantic Immigration Program (AIP) or Rural and Northern Immigration Pilot (RNIP).

 

Requirements for Canada's Start-up Visa

  • Considering all company shares, you must hold at least 10% of the voting rights.
  • Pitch your business idea and satisfy the organization that it is worth supporting. 
  • You must take a language test from a legalized agency and get 5 in either English or French in speaking, reading, listening, and writing.
  • Show proof of funds that you have enough money to support yourself and any family members.

 

*Want to apply for PR in Canada? Y-Axis is here to help you.

 

Ontario and British Columbia became choice destinations for SUV entrepreneurs.

British Columbia and Ontario remain the most popular destinations for SUV immigrants. British Columbia received 170 new permanent residents in the first month of this year, and Ontario received 275 new permanent residents through the program.

 

List of SUV entrepreneurs welcomed in January in other provinces or territories.

Province/ Territories

No Permanent residents

Ontario

275

British Columbia

170

Alberta

5

Manitoba

35

Nova Scotia

5

 

Three sectors of SUV

Three types of private-sector investors are considered in SUV: angel investors, venture capital funds, and business incubators.

Investors must invest at least $200,000 into the qualifying business. They can qualify with two or more commitments from nominated venture capital funds totaling $200,000.

 

*Are you looking for step-by-step assistance for Canada Immigration? Talk to Y-Axis, the leading Overseas Immigration Company.

For the latest updates on Canada Immigration, check the Y-Axis Canada Immigration News Page.

Web Story:  500 Canada Permanent Residence issued to Start-up visa candidates in Jan

Tags:

Immigration news

Canada immigration news

Canada news

Canada visa

Canada visa news

Migrate to Canada

Canada visa updates

Work in Canada

Overseas Immigration News

Canada work visa

Canada PR

Canada Start Up Visa

Share

Options for you by Y-Axis

phone 1

Get it on your Mobile

mail

Get News Alerts

contact 1

Contact Y-Axis

Latest Article

Related Post

Trending Article

Italy Student Visa Rules

Posted On December 11 2024

Italy announces new student visa rules from 2025