IRCC caps permanent residence applications through the Start-up Visa program
The Immigration, Refugees and Citizenship Canada (IRCC) disclosed that starting April 30, it will limit the acceptance of permanent residence applications to those linked with a maximum of 10 startups per designated organization.
Canada's recent adjustments to its immigration policies regarding entrepreneurship, particularly the decision to cap permanent residence applications via the Start-up Visa program, may indicate a strategic effort to manage the influx of applicants and ensure a higher standard of quality. This initiative, which limits the number of applications per designated organization, appears to prioritize startups with greater potential for success and genuine economic contributions.
However, it's crucial to observe how these policy changes will impact aspiring immigrant entrepreneurs and the wider startup ecosystem within Canada. These adjustments could potentially affect Canada's attractiveness as a destination for entrepreneurial talent and innovation. The primary objective behind these changes seems to be addressing the backlog and enhancing processing times for applications, which have experienced significant growth.
nder the previous system, the immigration level goals for the SUV program were established at 5,000 for the current year and 6,000 for 2025 and 2026. However, with the implementation of the new cap, these figures have been significantly decreased, leading to worry among immigration specialists and business owners.
The IRCC has declared a complete halt on fresh applications for the Self-Employed Persons Program, effective April 30, 2024. This program offers a route to permanent residency for individuals with significant experience in fields such as art, culture, recreation, or sports, who can enrich Canada's cultural landscape. Extensive application volumes have resulted in processing times exceeding four years. The pause aims to enable the IRCC to concentrate on clearing the backlog and explore potential reforms for the program.