Highlights: Canada SUV Immigration Doubled in 2023
- The number of immigrants who entered Canada via the Start-up Visa program doubled in 2023.
- The data shows 1,145 new permanent residents were welcomed in the first 11 months of 2023.
- There was a 104.5% increase in the arrival of immigrants via the SUV program.
- Ontario and British Columbia were the top two favourite choices for SUV immigrants.
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Canada Start-Up Visa (SUV)
The Start-up visa program offered by Canada is for entrepreneurs with the skills and the ability to establish a business in Canada. Candidates can apply for the SUV program and enter Canada with a work permit backed by a Canada-based investor before applying for a PR. The processing time to apply for PR via the Start-up visa program takes around 37 months.
The SUV program considers three types of private-sector investors:
- Venture Capital Funds
- Business Incubators
- Angel Investors
Eligibility for Canada Start-up visa
The eligibility requirements to apply for a Start-up visa are as follows:
- The candidate must have a qualifying business
- The candidate must have received a letter from a dedicated organization
- The candidate must fulfill the language requirements
- The candidate must have sufficient funds for settlement
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Canada SUV Stats
The IRCC released the latest data on immigration via the Canada Start-Up visa program. As per the data, the number of immigrants that entered Canada in October had a 37.9% increase compared to September 2023.
1,145 immigrants were invited for PR via the Canada visa in the first 11 months of 2023.
|
Month |
Number of PRs issued |
|
September |
145 |
|
October |
200 |
|
November |
135 |
The IRCC allotted a certain number of admissions for PR via SUV. The table given below has details of the year-wise division of PR allocations:
|
Year |
Number of PRs |
|
2024 |
5000 |
|
2025 |
6000 |
|
2026 |
6000 |
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Province-wise Breakdown of SUV Immigrants in 2023
British Columbia and Ontario remained the top choices for Start-up visa immigrants. The table given below has province-wise SUV Stats.
|
Province |
Number of PRs issued |
|
Ontario |
725 |
|
British Columbia |
265 |
|
Alberta |
20 |
|
Manitoba |
120 |
|
Nova Scotia |
15 |
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For recent Immigration updates, do check out: Y-Axis Canada Immigration news
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Web Story: Canada Start-Up Visa Immigration Doubled in 2023