Start-Up Visa (SUV) program Canada is still attractive for entrepreneurs who want to start a business and obtain permanent residence in Canada. However, due to new immigration strategies and low quotas set by the Immigration Levels Plan, there is still competition. Despite the challenges, the program presents a number of opportunities for entrepreneurs in 2025.
Revised Immigration Targets
The Federal Business stream that also encompasses the Start-Up Visa program has had its immigration quotas slashed. In 2025, the number of spots will be 2,000 compared to 5,000 in 2024. In 2026 and 2027, these targets will be reduced by 1000 a year.
This reduction shows Canada’s attempt to rebalance its immigration policies, but it also stiffens competition for business people. Candidates now need to develop outstanding business proposals that demonstrate their ability to generate value for Canada’s economy.
Program Enhancements for 2025
The recent change in the issuance of open work permits of three years is a major development since it offers the applicants more options. Before, work permits limited business people to engage in business ventures only as their primary source of income. Now, the open work permit enables the candidates to be employed by a Canadian and to boost their income as they grow their business ventures.
These changes can also benefit families, as spouses can apply for open work permits, and kids can get educational permits. These small changes help to reduce the often immense economic and emotional pressures that come with migrating and setting up a business in a new country.
Eligibility for the Open Work Permit
Here are the conditions that applicants must meet to get the open work permit:
| Criteria | Details |
|---|---|
| Application for Residency | Submitted an application for permanent residency through the SUV program. |
| Acknowledgement of Receipt | Have an acknowledgment receipt letter from Immigration, Refugees and Citizenship Canada (IRCC). |
| Primary Contributor | Identify as a key contributor to the start-up group. |
| Economic Impact | Prove the start-up’s potential to benefit Canada’s economy significantly. |
The applicants should also not be living in Quebec, since the SUV program is not available in the province.
