Canada has made a name for itself as a magnet for entrepreneurial talent from all over the world, and the Start-Up Visa (SUV) programme still plays a significant part in drawing in foreign entrepreneurs and innovators.

The number of new permanent residents entering the nation has increased dramatically in the first few months of 2023, exceeding the numbers from the same time the year before, according to the SUV programme. 

Number of Permanent Residents Through Start-up Visa 

Recent information from Immigration, Refugees and Citizenship Canada (IRCC) indicates that more foreign people became permanent residents in Canada's Start-Up Visa (SUV) programme in the first four months of 2023 compared to the same period in 2022.

The SUV programme admitted 195 new permanent residents during this time, an increase of 8.3% from the 180 people admitted over the same period the year before. Similar to the 575 people who received permanent residency through the SUV programme in 2022, the programme might welcome about 585 new permanent residents by the end of 2023 if the present rate holds.

However, just 35 people were admitted in April, a 30% decrease from the 50 people admitted in March.

The favourite locations for immigrant entrepreneurs arriving through the SUV programme have emerged as British Columbia and Ontario. 85 new permanent residents were admitted to British Columbia, a 6.3% increase from the 80 people who arrived the year before. 

On the other hand, compared to the 85 people admitted during the same time period previous year, Ontario only accepted 70 new permanent residents, a decrease of 17.6%.

Regarding other jurisdictions, Alberta received 15 entrepreneurs through the programme over the same period in 2023 despite having zero SUV immigrants during the first four months of 2022. In both years, Manitoba kept up its performance and welcomed 25 immigrant business owners under the SUV programme.

In comparison to other federal worker programmes including Federal Skilled Worker (FSW) and Federal Skilled Trade (FST), and provincial nominee programmes, the SUV programme produces a smaller overall number of new permanent residents.

Despite all, the SUV programme keeps luring foreign businesspeople and boosting Canada's economy. The programme enables entrepreneurs to start and expand their firms in Canada by providing work permits while their applications for permanent residency are being processed.

Conclusion

The Start-Up Visa programme in Canada has expanded significantly, drawing more foreign businesspeople to Canada as permanent citizens. Despite seasonal swings, the program's accomplishments demonstrate Canada's dedication to promoting entrepreneurship, innovation, and a thriving start-up environment.

FAQS

Under the SUV programme, which provinces are the most frequently visited by immigrant entrepreneurs?

The most popular provinces for immigrant businesses entering Canada through the SUV programme are British Columbia and Ontario.

How many permanent residents are expected to be added by the SUV programme for the entire 2023 calendar year?

By the end of 2023, the SUV programme might welcome roughly 585 new permanent residents, a similar amount to the previous year, if the current rate holds.