On June 27, 2023, local time, Canadian Immigration Minister Fraser announced the launch of Canada's first "Science and Technology Talent Strategy" in Canada's history. The new strategy, which includes new measures and improvements to existing ones, aims to help Canada's high-growth industries provide the top business and skilled talent needed for future growth and drive emerging technologies in Canada. As Canada's first-ever tech talent strategy, which includes the launch of proactive improvements for the Federal Venture Capital Immigration (SUV), it has received high attention from investors.
Federal Venture Capital Immigration (SUV) improvements are as follows:
1. The project allocates more places in 2023 and plans to increase further in 2024 and 2025;
2. Applicants can apply for a work visa for up to 3 years, instead of one year;
3. Applicants can apply for an open work visa, not a work visa limited to working for their own start-up;
4. Provide this 3-year open work permit to "every member" of the entrepreneurial team, not just the essential and urgently needed people in the entrepreneurial team;
5. Preference is given to applicants with venture capital, angel investment groups and business incubators backed by capital commitments and business incubators supported by members of the Canadian Technology Network.
As a traditional immigration country, Canada has always been open to welcome new immigrants. Since Canada announced the announcement of the 2023-2025 immigration plan to absorb 1.45 million new immigrants in the next three years, it has attracted much attention, and the plan has set a new record in the history of Canadian immigration quotas, of which the federal business immigration quota has increased by 4 times, attracting a large number of applicants! In the implementation of the Canadian Million Immigration Plan, the Canadian Prime Minister and a number of senior government officials have repeatedly stated in public that "immigration helps Canada's prosperity", and the government has introduced a number of measures to welcome immigrants.
Obviously, the positive improvements announced by Canada's immigration minister, including the launch of the federal venture capital immigration (SUV), coincide with Canada's policy of vigorously welcoming newcomers. It can be said that under the current easing policy, it is a good time to immigrate to Canada!
What is Federal Venture Capital Immigration in Canada?
The Canadian Federal Venture Capital Immigration (Start - Up Visa) is a five-year pilot program launched by Immigration Canada in March 2013, the main purpose of which is to attract innovative entrepreneurs to immigrate to Canada, start companies and create jobs, thereby stimulating economic growth. In July 2017, Immigration Canada considered the project a success and announced its intention to make the project permanent, which was confirmed by regulation in April 2018.
What is unique about the Canadian Federal Venture Capital Immigration?
For applicants, Canada's federal venture capital immigration (SUV) mandatory requirements, only need the applicant's language to meet CLB5, and can submit the application after meeting the relevant conditions. This program is the only "group" immigration program, and a start-up program can immigrate up to five applicants in bulk. Moreover, this project is managed by the federal government of Canada, strongly supported by the federal government, and directly reviewed by the federal government.
Successful SUV applicants can bring their spouse and dependent children under the age of 22 to apply directly for permanent residency status, and can live, work, and study in places in Canada other than Quebec. More importantly, the Canadian permanent resident status that the entrepreneur has obtained will not be revoked due to the failure of the business!
Application Requirements:
1. Age 18 years old and above
Second, language ability CLB5
3. Sufficient settlement funds (only $20,000 for a family of three)
4. Have a certain management experience background