Exciting news coming out of Canada’s immigration department! Canada is changing its Start-Up Visa and Self-Employed Persons programs. Starting April 30th, 2024, the Start-up Visa will have new processing policies, and the Self-Employed Persons program will stop taking applications.
The Start-up Visa program will be altered to cap the number of permanent residents accepted under this program by excluding applicants associated with no more than 10 start-ups per designated organization. Entrepreneurs whose start-up is supported by a Canadian capital or business incubator that is a member of Canada’s Tech Network will receive priority processing.
The Self-Employed Persons program is being put on a full pause until the end of 2026 due to a high number of applications within the program inventory, which has led to longer processing times.
Both programs come under the “Federal Business” category of the immigration levels plan, which is set to increase from a 5,000-newcomer allocation to a 6,000-newcomer allotment starting in 2025.
The Start-Up Visa program is designed for foreign nationals who are owners (or part-owners) of a start-up business to immigrate and permanently settle in Canada. The program requires applicants to have a qualifying business, get a letter of support from a designated organization, meet language requirements, and bring enough money to settle in Canada.
The Self-Employed Persons program is a pathway to permanent residence for self-employed foreign individuals with notable experience in art, culture, recreation, or sports, and who can contribute to Canada’s cultural vitality. To be eligible, applicants must have relevant experience, be willing and able to be self-employed in Canada, meet program selection criteria, and meet medical, security, and other pre-conditions.
Speaking on the 29th of April, Immigration Minister Marc Miller highlighted the need for more efficient processing for these programs, and the changes are aimed at faster processing times while they look ahead to further reforms to make these programs more sustainable and effective over the long term.
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