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Posted on November 01 2022

Canada Start Up Visa immigration on the rise; Three times more PRs in 2022

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By  Editor
Updated November 25 2023

Highlights: Three-time increase in immigration on a Canada Start Up Visa in 2022

  • The number of immigrants who moved to Canada with a Canada Start Up Visa has increased three times in 2022 than in 2021.
  • There were 420 new immigrants who took the SUV route to settle in Canada till August 2022.
  • Compared to 2019, there was an increase in the number of entrepreneurs who immigrated to Canada by 50 people.
  • It’s expected that the number of immigrants under SUV will be around 64 percent more than in 2021, and 22 percent more than in 2019.

A significant class of immigrants in Canada is entrepreneurs. Though they may not be as large in number when data on immigration is looked at, these investors and businesspeople are important to the Canadian economy.

The major pathway for Canada immigration for entrepreneurs is the Canada Start Up Visa (SUV). As per the data available on immigration in 2022 till now, there has been a threefold increase in the number of immigrants who arrived on SUV, compared to 2021.

In the first eight months of 2022, 420 entrepreneurs immigrated to Canada using the SUV. For the same period in 2021, there were only 145 entrepreneurs who took the SUV to immigrate to Canada.

Compared to pre-pandemic levels, there has been significant growth in the number of SUV immigrants in Canada. There was an increase of 50 entrepreneurs who moved to Canada using an SUV in 2022 when compared to the same period in 2019.

Compared to July 2022, Canada saw an increase of just 10 entrepreneurs who migrated with an SUV in August 2022. Here’s a snapshot of the number of entrepreneurs who immigrated with an SUV in 2022 till the month of August.

New permanent residents who immigrated to Canada in 2022 on an SUV
Month No. of ITAs
January 55
February 40
March 60
April 20
May 60
June 70
July 45
August 70

 

Know your eligibility to immigrate to Canada through Y-Axis Canada Immigration Points Calculator.

Performance of SUV in 2022

In 2022, SUV-based immigration has been happening at an average rate of 52.5 Canada PRs per month. Keeping this rate all year, Canada could have 630 new permanent residents who have immigrated on an SUV. This number will be around 64 percent more than in 2021 when there were only 385 SUV immigrants.

In 2022, British Columbia will benefit the most from the SUV. Ontario will be the next best beneficiary.

Also read:

Entrepreneurs are welcome to Canada via BC PNP with resumed EI stream

Ontario Moving Forward With Pilot To Welcome 100 New Entrepreneurs

About Canada Start Up Visa program (SUV)

When foreign entrepreneurs are looking for an opportunity to invest and run a new business in Canada, they can go for an SUV. Entrepreneurs can apply directly for Canada PR through the SUV. They can establish their business in Canada and get the distinct benefits of doing so in Canada due to the:

  • Positive business climate
  • Tax incentives granted for small businesses
  • Corporate taxes at competitive rates

To qualify for an SUV, you must

  • have sufficient money to live in Canada before you earn from your business
  • have a qualifying business
  • meet the requirements for language proficiency
  • have a letter of support issued by a designated organization

Besides these, you must meet the requirements to be deemed admissible in Canada.

If you are willing to migrate to Canada, talk to Y-Axis, the leading immigration and career consultant in the UAE.

If you find this blog engaging, you may also like:

A recap of Canada Express Entry draws that took place in October 2022

Tags:

Canada Start-Up Visa

Immigrate to Canada

Migrate to Canada

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