On June 27, 2023, local time, Canadian Minister of Immigration, Refugees and Citizenship, Sean Fraser, announced the launch of Canada's first-ever Tech Talent Strategy. This new strategy includes both new measures and improvements to existing ones, with the goal of helping Canada's high-growth industries secure the top business and skilled talent needed for future development, thereby driving the growth of Canada's emerging technologies. As Canada's first-ever tech talent strategy, it includes positive improvements to the Start-up Visa (SUV) program, which has attracted significant attention from investors.
The improvements to the Start-up Visa (SUV) program are as follows:
1. The program has been allocated more spots in 2023, with plans for further increases in 2024 and 2025;
2. Applicants can apply for a work permit of up to 3 years, instead of one year;
3. Applicants are able to apply for an open work permit, rather than a work permit restricted to working only for their own start-up;
4. This 3-year open work permit is available to "each member" of the entrepreneurial team, not just those who are essential and urgently needed in the start-up team;
5. Priority will be given to applicants supported by venture capital, angel investor groups, and business incubators that have capital commitments, as well as those supported by business incubators that are members of Canada's Tech Network.
As a traditional major immigration destination, Canada has always opened its doors to welcome new immigrants. Since the announcement of the 2023-2025 Immigration Levels Plan, which aims to welcome 1.45 million new immigrants over the next three years, it has received widespread attention. This plan set a new record in the history of Canadian immigration quotas, with the federal business immigration quota increasing to four times its previous level, attracting a large number of applicants! During the implementation of Canada's million-immigrant plan, the Prime Minister of Canada and several senior government officials have stated on multiple public occasions that "immigration contributes to Canada's prosperity," and the government has introduced numerous measures to welcome immigrants.
It is evident that the positive improvements to the Start-up Visa (SUV) program announced by the Canadian Minister of Immigration coincide with Canada's policy of strongly welcoming new immigrants. It can be said that under the current relaxed policies, now is an excellent time to immigrate to Canada!
What is the Canadian Start-up Visa (SUV) program?
The Canadian Start-up Visa (SUV) is a five-year pilot program launched by Immigration, Refugees and Citizenship Canada (IRCC) in March 2013. Its primary purpose is to attract innovative entrepreneurs to immigrate to Canada to start businesses and create jobs, thereby stimulating economic growth. In July 2017, the Canadian immigration authorities deemed the program a success and announced their intention to make it permanent, which was confirmed by regulations in April 2018.
What are the unique features of the Canadian Start-up Visa (SUV) program?
For applicants, the Canadian Start-up Visa (SUV) has a hard requirement of only CLB 5 in language proficiency, and applications can be submitted once the relevant conditions are met. This program is the only "group" immigration program, where one start-up project can bring in up to five applicants at once. Furthermore, this program is managed by the Canadian federal government, receives strong support from the federal government, and is processed directly at the federal level. Successful SUV applicants can bring their spouses and dependent children under the age of 22 to apply directly for permanent resident status, allowing them to live, work, and study anywhere in Canada outside of Quebec. More importantly, the Canadian permanent resident status obtained by entrepreneurs will not be revoked if the start-up fails!
Application Requirements
◆ Age 18 or older
◆ Language proficiency of CLB 5
◆ Sufficient settlement funds (only 20,000 CAD for a family of three)
◆ A certain background in management experience
As one of the Top 500 Asian Brands and with over 20 years of focus on investment immigration, WorldWay Group possesses an industry-leading project analysis team, a professional documentation team, and a comprehensive customer service team. We cooperate with numerous powerful Canadian institutions to provide investors with professional, comprehensive, and diversified services, making us a choice you can trust!
For more details on Canadian immigration, please send us a private message in the comments section or call the WorldWay service hotline. Mainland China: 400-138-2929, Hong Kong, China: (852) 2802 8798
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