English
Recent Changes in two Federal Business Immigration Streams
The Honourable Mark Miller, the immigration minister has announced significant changes in two federal business immigration streams including Start-up and Self-Employment Visa Programs recently.
Effective April 30, 2024, Immigration, Refugees and Citizenship Canada, IRCC will implement new policies regarding the processing of startup visa applications. On the same day, the department will completely stop accepting applications under the self-employed program.
Start-up Visa changes
Basically, Canada’s Startup Visa Program allows foreign nationals who own (or co-own) a startup company to immigrate and permanently reside in Canada, provided that:
• Establishing a qualifying business.
• Receive letters of support from designated organizations.
• Meet language requirements. and
• Bring enough money to settle in Canada.
Now from April 30, the IRCC has the following changes on their policy to process the startup visa applications as follows:
• Each designated organization can issue up to 10 letters of support annually to support Startup visa applications.
• Priority will be given to those applicants whose LOS comes from a designated organization that is a member of Canada’s Tech Network.
Note: The designated organization is a group of Canadian companies (venture capital funds, investors and angels’ groups, and /or business incubators) which can support an applicant to start their start up idea in purpose of getting a PR.
Self-Employed Persons program changes
The Self-Employment Program is a pathway to Permanent Residency (PR) for self-employed foreign workers with significant experience in the arts, culture, recreation and sports fields who can contribute to Canada’s cultural life.
To be eligible, candidates must:
• Have relevant experience.
• Be willing and able to work as a self-employed person in Canada.
• Meet the program selection criteria. and
• Meet medical, safety and other requirements.
But now the IRCC has announced that it will completely suspend applications for the self-employment program, which is scheduled to be introduced until the end of 2026.
Immigration Advice
Based on the mentioned changes above I think beside the startup program the immigration applicants can now focus on the other possible immigration streams including but not limited to the intra-company transferee, ICT program, provincial entrepreneurship programs, or high demand job programs. I would talk about these programs in future.
Dr. Mike (Mahmoud) Aleshams
E: info@shamsimmigration.com
C: +1 416-400-0939
