If you have not yet submitted your Permanent Resident PR – Start-up visa (SUV) application, it is time to do so as soon as possible: a new quota system starts today, which means that the number of SUV applications will be limited severally. It is first come / first served, so hurry up!

For people who already submitted their applications (and the ones who will be submitting their own file soon) it is great news because it would lead to a reduction of processing times.

For more details, see the extracts from the News release below:

News release

April 29, 2024—Ottawa—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 Canada is taking action to reduce wait times.

Today, the Canadian Minister of Immigration, Refugees and Citizenship (IRCC), 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, IRCC 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 some business incubators, 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 Self­-Employed 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.

Please click this link to read more details about the Start-Up Visa Program – New quota system, or contact us: info@jthlawyers.com | +1(514) 397-0095 | +1 (514) 647-0795 / +855 (0) 98 6767 82 (WhatsApp).