Canada Start-Up Visa program is up by 190 percent compared to 2021

Highlights: Canada Start-Up Visa program in 2022

• The Canada Start-Up Visa program inviting business people has increased by 190% from 2021.
• 420 individuals were granted Canada PR through the SUV program in 2022.
• British Columbia and Ontario had the most immigrants through the SUV stream.
• Canada is likely to invite 630 individuals through the SUV program in 2022.
• The number of individuals coming through the SUV program reached pre-pandemic levels.

Abstract: The number of individuals coming to Canada has increased to thrice the number it was in 2021.

Entrepreneurs are establishing businesses in Canada under the SUV or Start-Up Visa program. The number of individuals investing in a business in Canada has increased to approximately 3 times the number of individuals who invested in 2021.

By August 2022, 420 immigrants were issued Canada PR or permanent residency through the SUV program. The figure is approximately 190% more than the figures for individuals coming through the SUV program in 2021.

*Check your eligibility to Canada through Canada Immigration Points Calculator.

**Want to migrate to Canada? Y-Axis is here to offer you guidance.

SUV Rose to Pre-Pandemic Levels

The first 8 months of 2022 witnessed more individuals coming to Canada under the SUV program than it did since the onset of the pandemic. The figures were approximately close to the pre-pandemic levels.

In August, the number of new Canada PRs issued through the SUV increased by 22.2%, and an additional 10 applicants were sent invitations to apply for Canadian permanent residency. The details of the number of ITAs or Invitation to apply for permanent residency are given in the table below:

Canada PR through the SUV in 2022
Month	No. of ITAs
January	55
February	40
March	60
April	20
May	60
June	70
July	45
August	70

Read More…

IRCC aims at Canada citizenship for 300,000 people in FY 2022-23

50% of the population will be immigrants by 2041: Canada officials

All you need to know about Canada’s Global Talent Stream

If the current rate persists Canada is likely to welcome 630 individuals through the SUV program.

The two provinces that have benefitted from the SUV program are:

• British Columbia
• Ontario

Individuals applying through the SUV program can arrive in Canada with a work permit authorized by their Canadian investor before applying for their Canada PR.

Business Development under the SUV

Through the SUV, 3 types of investors in the private sector are considered. They are:

• Angel investors – Investment of 75,000 CAD or more
• Venture capital funds – Investment of 200,000 CAD or more
• Business incubators – Fulfill the requirements of provincial authorities

Eligibility Criteria for the SUV Applicants

The eligibility criteria for the candidates of the SUV program are:

• Valid business
• Letter of support and commitment certificate from an authorized entity
• Adequate funds
• Proficiency in French or English

Want to invest in Canada? Contact Y-Axis, the leading Immigration Consulting Company.

 If you found this news article helpful, you may want to read…

 “We are not short of jobs. We are short of people” – Premier Scott Moe, Saskatchewan, Canada