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Canada announces new restrictions on permanent resident visas and foreign workers

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The Canadian government has announced new measures aimed at streamlining its immigration process, specifically impacting permanent resident visas for startups and self-employed workers. These changes, implemented in late April 2024, come alongside efforts to address application backlogs and prioritize specific sectors within the immigration system.

Processing Caps for Startup Visa Program

  • A significant shift for the Startup Visa Program involves a newly imposed annual limit on applications processed per organization. This cap restricts the number of applications a single organization can sponsor to a maximum of 10 startups per year.
  • The rationale behind this cap is twofold: tackling the backlog of existing applications and expediting the overall processing timeline.

Impact on Entrepreneurs and Startups

  • The new restrictions might pose challenges for aspiring entrepreneurs seeking permanent residency through the Startup Visa Program, particularly those in self-employment roles.
  • Despite these new limitations, the program has historically been a successful pathway for entrepreneurs since its launch in 2013.
  • Moving forward, preference will be given to startups backed by Canadian capital or affiliated with designated members of the Canadian technology network.

Temporary Suspension of Self-Employed Program

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  • Adding to the changes impacting self-employment opportunities, Immigration, Refugees and Citizenship Canada (IRCC) has temporarily suspended accepting new applications for the Self-Employed Workers Program. This suspension took effect on April 30th, 2024.
  • The primary objective behind this suspension is to address the significant backlog of applications currently pending within the program.

Contextualizing the Changes

  • These announcements come amidst concerns regarding the high cost of living in major Canadian cities like Toronto and Vancouver.
  • Additionally, international students face considerably higher education costs compared to domestic students. Statistics Canada reported average tuition fees for international students at approximately $32,950 in 2021, while domestic students paid significantly less.

Financial Requirements for International Students

  • It’s important to note that IRCC requires international students to secure a student visa and demonstrate sufficient financial resources to cover their expenses for the first year of study. This requirement emphasizes the financial commitment necessary for international students pursuing education in Canada.

Looking Ahead

  • The prioritization of startups backed by Canadian capital and the new restrictions on permanent residency visas for specific sectors reflect Canada’s efforts towards a more efficient immigration system.
  • While these changes might present hurdles for some applicants, they are ultimately designed to streamline the process and further support Canadian business initiatives.

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