Maple News reports that Immigration, Refugees and Citizenship Canada (IRCC) has announced significant changes to two federal business immigration programs: the Start-up Visa and the Self-Employed Persons program. These updates, which take effect on April 30, 2024, are designed to reduce backlogs, streamline processing, and refocus resources on high-potential applicants.
Under the updated Start-up Visa program, IRCC will now limit the annual number of permanent resident admissions tied to a maximum of 10 start-ups per designated organization. This change aims to balance the volume of applications while maintaining support for innovative entrepreneurs. Designated organizations refer to Canadian venture capital funds, angel investor groups, and business incubators authorized to endorse foreign start-ups.
In an effort to prioritize impactful ventures, IRCC will also give expedited processing to entrepreneurs whose start-ups are backed by business incubators that are part of Canada’s Tech Network. This includes applications already in the processing pipeline.
Meanwhile, IRCC is placing a full pause on intake for the Self-Employed Persons program until the end of 2026. This move comes in response to surging application volumes, which have led to processing times exceeding four years. During the pause, the department will continue to assess existing files and explore policy reforms to improve the integrity and efficiency of the program.
Canada’s Start-up Visa is a popular immigration stream for founders who own or co-own an innovative start-up and meet additional requirements, such as obtaining support from a designated organization, meeting basic language proficiency levels, and proving sufficient funds for resettlement in Canada.
The Self-Employed Persons program, on the other hand, offers permanent residency to individuals with exceptional experience in athletics, arts, or cultural professions, assuming they can contribute meaningfully to Canada’s cultural and creative landscape.
The changes reflect Canada’s continued efforts to attract high-impact entrepreneurs while addressing operational bottlenecks across immigration streams. According to Maple News, these updates are a clear indication that the federal government is prioritizing quality over quantity to maintain Canada’s reputation as a magnet for global talent.