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Canada Start-up Visa Program
And history repeats itself!…
Canada start-up visa program update.
Immigration is all about the law, which in turn is defined by what you can prove with actual evidence. Every law inevitably has a loophole!
I’ve mentioned before in my posts that the start-up route could face similar challenges as the owner-operator process, based on how it has been sold in the market. And here we are with an update…
Let’s face it. The Canada start-up visa program has been turned into a profitable business by many people including business incubators, which goes against its original purpose. And my statement is backed up by an IRCC update when it comes to Business Incubators! I understand and acknowledge that there are numerous individuals who are truly committed to developing great products/concepts and contributing to the Canada startup visa, but unfortunately that number is quite small.
The other day, someone said they were paying $40,000 CAD, including incubator fees, for a startup with a team of five. This clearly shows the quality of start-up visas and the standards by which new projects/concepts are sold on the market!
Not many may remember what happened to the “Owner Operator” process when individuals exploited its loopholes and IRCC quickly changed the rule overnight, moving from awarding 200 points to only 50 points and strictly instructing LMIA officers to award 50 points regardless of the business. And who suffered as a result? Genuine clients who had invested their hard-earned money in Canadian businesses. I’ve personally witnessed this for one of my clients; later we have to give them an ICT (Intra Company Transfer) option.
So who will bear the brunt now ? The honest people who develop ethical products and strive to comply with IRCC Start-up visa standards. Those who are honest are the ones who will pay for it. So this is nothing new, be it with the Owner Operator process, student visas or now business immigration!
I understand that some are deeply frustrated by this update, but it is what it is. The exploitation of loopholes in the process must end, and this is just the beginning for the start-up visa. As I keep emphasizing, time is of the essence because no one can control the immigration rules.
I anticipate a significant drop in Canada start-up visa program visa applications as the IRCC is capping the number of permanent residents accepted under this program excluding applicants associated with more than 10 start-ups per designated organization.
Currently, we are processing applications through DMZ. If you’re interested, please send your resume to priya@thesuccessimmigration.com and you can also send your pitch deck for preliminary evaluation
