OTTAWA,
ON, April 29, 2024 /CNW/ - Immigration is
critical to the growth of our economy and our communities.
Improving processing times is key to providing an immigration
system that works better for newcomers and Canadians alike, which
is why we are taking action to reduce wait times and modernize our
programs and services.
Today, the Honourable Marc Miller, Minister of Immigration,
Refugees and Citizenship, announced several changes to Canada's federal business programs to help
reduce processing times and the application backlog. These changes
take effect on April 30, 2024.
To improve the Start-up Visa Program, we will encourage
designated venture capital firms, angel investor groups and
business incubators to focus on the most promising proposals by
- capping the number of permanent residence applications we will
accept for processing each year to those associated with no more
than 10 start-ups per designated organization
- providing priority processing for entrepreneurs whose start-up
is supported by Canadian capital or by a business incubator that is
a member of Canada's Tech Network,
including applications in the inventory and new applications as
they are submitted
In addition, Minister Miller announced a full pause on
application intake for the SelfEmployed Persons Program to focus
on processing applications from the inventory, starting
April 30, 2024. The Self-Employed Persons Program provides a
pathway to permanent residence for people with notable experience
in art, culture, recreation or sports and who will contribute to
Canada's cultural vitality. Due to
the high number of applications submitted for this program,
processing times have increased to beyond four years. While
the pause is in place, IRCC will continue finalizing applications
from the backlog while assessing options for reforming the program
and ensuring its integrity.
By restricting application intake through the end of 2026, and
through planned increases in admissions for the federal business
category as tabled in the 2024–2026 multi-year levels plan, IRCC
will be able to reduce the backlog and bring down wait times while
continuing to welcome the talented, innovative and entrepreneurial
newcomers we need to continue to grow Canada's economy.
Quote:
"Fast processing is critical to the success of entrepreneurs who
come to Canada through our federal
business programs. These necessary changes will set the Startup
Visa Program and Self-Employed Persons Program on the path to
faster processing times while we look ahead to further reforms to
make these programs more sustainable and effective over the
long term."
– The Honourable Marc Miller, Minister of Immigration,
Refugees and Citizenship
Quick facts:
- Immigrants account for about one third of business owners with
paid staff in Canada.
- Canada ranked number one as
the most attractive destination for start-up founders in a 2023
report by the Organization for Economic Co-operation and
Development (PDF 2.18 MB). The rankings were based on a wide
variety of factors, including access to capital, corporate tax
rates, skills of the workforce, strength of its universities and
quality of life, as well as immigration policies for entrepreneurs
and their families.
- To qualify to apply for the Start-up Visa Program, a foreign
entrepreneur must have the committed support of a designated
venture capital fund (investment of $200,000), angel investor group (investment of
$75,000) or business incubator
(acceptance into their incubation program).
- Since the program began in 2013, about 900 entrepreneurs have
become permanent residents through this category, representing the
launch of more than 300 start-ups.
- All applications in the venture capital and angel investor
streams will get priority processing, as will any business
incubator–supported applications that report an investment of at
least $75,000.
Related products:
- News release: Stabilizing Canada's immigration targets to support
sustainable growth
- News release: Minister Fraser announces Canada's first Tech Talent Strategy at
Collision 2023
Associated links:
- Start-up Visa Program
- Self-Employed Persons Program
Follow us:
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- Twitter.com/CitImmCanada
- Instagram.com/CitImmCanada
SOURCE Citizenship and Immigration Canada