Start-up visa (SUV) immigration to Canada rebounded significantly in May, rising 29.4 percent after a sluggish April. Immigration, Refugees and Citizenship Canada (IRCC) data shows that 550 new permanent residents arrived through the SUV program in May, up from 425 in April. This increase brought SUV immigration almost back to its March level of 575 new permanent residents.
In contrast, SUV immigration had dropped by 27 percent in April compared to the previous month despite overall immigration growth. However, May’s increase outpaced total immigration growth to Canada. The total number of new permanent residents rose by only 9.3 percent, from 42,590 in April to 46,550 in May.
Currently, Canada could welcome 5,832 new permanent residents through the SUV program by the end of the year. This would represent a 299.4 percent increase compared to the 1,460 who arrived under the program last year.
The SUV program experienced a strong rebound in 2021, with 385 new permanent residents arriving, a 48.1 percent increase over 2020. It took until 2022 for the program to fully recover from the pandemic-related downturn. Last year, the program’s popularity more than doubled compared to the previous year.
Ontario and British Columbia remain the most popular destinations for SUV immigrants. By the end of May this year, Ontario had received 1,325 new permanent residents through the program, while British Columbia welcomed 755.
Alberta added 55 new permanent residents, and Manitoba added 250 immigrant entrepreneurs through the SUV during the year’s first five months. Nova Scotia saw 25 new permanent residents through the program, and New Brunswick welcomed 20.
Despite generating fewer overall numbers than federal workers and regional economic development programs, the SUV’s monthly and yearly fluctuations can appear exaggerated in percentage terms.
Candidates applying under the SUV program can initially come to Canada on a work permit supported by their designated Canadian investor. The IRCC estimates that applying for permanent residence through the SUV will take 39 months.
The post Canada’s Start-Up Visa Immigration Sees 29.4 Percent Surge in May appeared first on CI News | Latest Canada Immigration News.
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