IRCC Changes Address Canada Start-Up Visa Processing Time

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Immigration, Refugees and Citizenship Canada (IRCC), formerly Citizenship and Immigration Canada (CIC), published a news release on Monday, April 29 2024. It was entitled Changes to the Start-up Visa and Self-Employed Persons programs to help reduce backlogs and improve processing times. Let’s examine the implications regarding the Canada Start-Up Visa processing time in relation to actual and potential applicants.

Capping and Prioritizing Applications

From Tuesday, April 30th 2024, IRC pledged to:

1. Cap the amount of permanent residence applications to process each year “to those associated with no more than 10 start-ups per designated organization”
2. Guarantee express priority for investors backed by Canadian capital via one of the venture capital funds, angel investor groups, or “by a business incubator that is a member of Canada’s Tech Network”

As the Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship acknowledges: “Fast processing is critical to the success of entrepreneurs who come to Canada through our federal business programs.”

The View From RIF Trust

Our Strategic Partner Ronit Sharma was born and bred in Canada. He’s aware of the importance Canada continues to place on investment migration. Marc Miller’s intervention, for Sharma, provides a welcome boost to the programme.

“Canada is the birthplace of modern Residency by Investment,” reveals Sharma. “My country wants to keep its place at the top table of investment migration – especially as Canada was ranked #1 via the Organization for Economic Co-Operation and Development (OECD) in 2023  as the most attractive country for immigrant start-up founders due to its strong start-up ecosystem in place.”

“To do so, it needs to improve the Canada Start-Up Visa processing time so these brilliant global founders can come to Canada faster and launch their start-ups.” “With a new emphasis on quality over quantity, I foresee the current backlog to ease.”

How to Take Advantage of the Canada Start-Up Visa Processing Time Speeding Up

There’s no time like the present to secure your future and that of your family too. For expert Canadian Residency by Investment advice, you’re going to need to consult an investment migration firm with experience of helping investors join the Canada Start-Up Visa Programme such as RIF Trust. So, don’t delay and contact us today.