You might be eligible to apply for Permanent Residence on May 6, 2021. On April…
Our Work Permit to Permanent Residence Program (WP2PR) is the best, fastest, and easiest immigration pathway possible for entrepreneurs.
Canada’s Start-up Visa Program is filled with problems.
The Canadian immigration department (“IRCC”) recently disclosed that more than 6,730 Start-up Visa (“SUV”) applicants are sitting in their inventory backlog. There seems to be practically no processing happening in this class and applicants should be aware that processing times will likely take years even for work permits. Though the current estimated processing time for the SUV class is estimated to be 31 months, we believe it may take closer to six to seven years for most applications to be finalized.
Innovative start-ups need to be able to move fast or they can miss their opportunity in the marketplace. With its significant backlogs and long processing times, the SUV class is certainly not the best choice for an entrepreneur. If you qualify for the SUV program, you may have a faster option under our WP2PR pathway.
In addition to long processing times, the SUV program creates uncertainty for entrepreneurs and businesses. To qualify for the SUV program, you need a letter of support from a designated organization, each of which have specific requirements and application processes. Most organizations expect a detailed and comprehensive business plan, including financial projections, demonstrating how your business is truly innovative, unique and able to succeed in Canada. Many support letters come from business incubators, which are often very secretive about their selection processes. An entrepreneur may spend a lot of time and money preparing a business plan and applying to numerous designated organizations and never even get a letter of support.
While SUV class applicants may be able to get a work permit while their application is in process, that can be risky. Applicants that come to Canada on SUV work permits may have a real problem if the business they came to start up is either not operational or has started up and already failed by the time the officer eventually assesses the case. Officers can also require an applicant’s business plan to be peer reviewed, even with the letter of support from the designated organization. This could present further problems, such as delays and rejections. SUV applications are very complex given the nature of the program and its focus on innovative and unique business ideas. Unfortunately, very few officers have the time or industry-specific expertise to review them.
Lastly, the SUV program has strict rules about the Canadian company’s ownership and corporate structure. If people try to add friends, relatives, or investors to the applications, this could cause the application to fail. Remember that if one essential person in the group is denied, the whole application can fail. Plus, some of the designated organizations require a share in your business or charge high fees in order to provide the letter of support.
The SUV program is so fraught with problems and delays that we do not think it is a practical or viable program for most applicants. Plus, with significant backlogs, it appears IRCC is not prioritizing the processing of SUV cases.
WP2PR is faster.
In comparison, our WP2PR program can get you and your family to Canada quickly. Initial work permits can be obtained swiftly. For instance, we recently had a client receive their work permit approval in just three weeks. Most applicants can qualify for expedited processing under the Global Skills Strategy (GSS), which was developed to ensure very fast processing.
After coming to Canada, starting up your business and qualifying for permanent residence, the PR application may also be processed quickly under the Express Entry system. Prior to the pandemic, many applications under the Express Entry classes were processed in around six months and IRCC has announced they are committed to returning to fast processing times this year.
WP2PR is more flexible.
Our Work Permit to Permanent Residency program is a faster, more flexible pathway than the Start-up Visa for starting a successful business in Canada.
WP2PR lets you establish a Canadian business quickly and maintain full control and ownership, without any oversight or approvals from any third parties. You do not need a letter of support from a designated organization or show that your business will bring new or unique technologies or products to Canada. Your business can be in almost any industry and there is no better approach for entrepreneurs.
If you are interested in starting a business in Canada quickly, efficiently, and flexibly, then contact us today to see if you qualify for the Work Permit to Permanent Residency pathway.