The Latest data from IRCC reported that in 2023, the SUV program has grown more prosperous. In just the first three quarters of the year, the program has approved 650 applications – more than in the whole of 2022. Compared to 2022, the program approved 575 applications. The SUV program is making a significant impact and helping entrepreneurs achieve their dreams.
Growth in Canada’s SUV program approval rates
It also shows a remarkable growth in Canada’s SUV program approval rates. In the first three quarters of 2023, approval cases have steadily increased from 150 in Q1 to 190 in Q2 and dramatically to 305 in just the first two months of Q3. This reflects the growing traction of the SUV program as a pathway to permanent residence for immigrant entrepreneurs.
Breaking down the approvals by province, Ontario and British Columbia are leading with 215 and 200 approvals respectively. These provinces are known for their vibrant cities like Toronto and Vancouver, which have thriving tech and startup ecosystems. Meanwhile, Manitoba and Alberta have opened their doors to immigrant entrepreneurs with 50 and 20 approvals.
As of August 2023, Canada has already issued 338,905 approvals for permanent residence (PR). This underlines the country’s strong commitment to achieving its immigration target of welcoming 465,000 newcomers for the year 2023. With the remaining months of the year, there’s still a significant number of PR approvals to be granted.
Among these opportunities, the SUV program has more than 3,000 spots still available. This program is particularly relevant for immigrant entrepreneurs eager to develop innovative business ideas within a robust entrepreneurial ecosystem. It is a pathway not only for business growth but also for achieving permanent resident status in Canada.
If an entrepreneur is considering Canada as a destination to grow his business and settle, now is the perfect time to apply. With Eterna’s service, your clients can fully capitalize on the current momentum of the SUV program and maximize their chances of approval.