The Start-Up Visa Program under which innovative entrepreneurs from around the world can start their businesses in Canada (outside Quebec), has just got a lot better. By partnering with authorised/designated organizations, successful applicants can secure permanent residency to Canada through the SUV stream.
On October 3, 2024, Immigration, Refugees and Citizenship Canada (IRCC) has introduced a significant change to the Start-Up Visa Program. This change allows applicants deemed essential, on their Letter of Support to apply for a three-year open work permit while waiting for a decision on their permanent residence application.
Benefits of the Open Work Permit:
- As the name suggests, an “open” work permit, allows the applicant to work for any employer in Canada. By doing so, the applicant can ensure that they live comfortably in Canada while continuing to develop the start-up.
- Since the open work permit is valid for three years, the applicant has enough time to establish their start-up business before securing permanent resident status.
- The open work permit is not employer-specific and hence, lets the applicant enjoy freedom of working for any employer, and at the same time, focus on growing their start-up business.
This update is a welcome change for many entrepreneurs who now have the flexibility to support themselves and their families while they await their permanent residence outcome. Please call us to know more.