IRCC Updates: Canada's New Startup Visa Rules

Starting April 30th, 2024, Immigration, Refugees, and Citizenship Canada (IRCC) will introduce new policies for processing Start-up Visa applications and initiate a full pause on application intake for the Self-Employed Persons program.

Start-up Visa Updates:

• IRCC will cap the number of permanent residents accepted under this program by excluding applicants associated with no more than 10 start-ups per designated organization.
• Entrepreneurs whose start-up is supported by a Canadian capital or business incubator affiliated with Canada’s Tech Network will receive priority processing.

Self-Employed Persons Program Changes:

• IRCC will halt application intake for the Self-Employed Persons program until the end of 2026 due to increased processing times, which now exceed four years.
• While applications are paused, IRCC will continue to process existing applications and explore opportunities for program reform.

About the Programs:

Start-up Visa:

• Allows foreign nationals owning or part-owning a start-up business to immigrate and settle in Canada.
• Requirements include a qualifying business, a letter of support from a designated organization, meeting language proficiency, and sufficient settlement funds.

Self-Employed Persons Program:

• A pathway to permanent residence for self-employed individuals in art, culture, recreation, or sports, contributing to Canada's cultural vitality.
• Eligibility criteria include relevant experience, willingness and ability to be self-employed in Canada, meeting program selection criteria, and meeting medical and security requirements.

Program Expansion:

• Both programs fall under the "Federal Business" category of the immigration levels plan, increasing from a 5,000-newcomer allocation to a 6,000-newcomer allotment starting in 2025.

Minister Miller stressed the importance of efficient processing for these streams, stating, “Fast processing is critical to the success of entrepreneurs who come to Canada through our federal business programs. These necessary changes will set the stage for faster processing times while we look ahead to further reforms to make these programs more sustainable and effective over the long term.”