Canada Announces Cap on Start-Up Visa

Canadian employers increasingly rely on temporary foreign workers,  international students in Canada are limited to working 20 hours per week, and Canada's 2024 Federal Budget addresses pressing concerns facing Canadians and newcomers alike. 

We invite you to take part in a quick survey for a chance to win a free 1-hour coaching session with our expert career & employment coach. The deadline for your chance to win is Sunday, May 19, 2024.

In this week’s issue, Canadian employers increasingly rely on temporary foreign workers, international students face new restrictions on working while studying, and Canada's 2024 Federal Budget addresses pressing concerns facing Canadians and newcomers alike. 

Canada Announces Cap on Start-Up Visa Applications to Reduce Processing Times

Canada's Immigration Minister, Marc Miller, recently unveiled significant changes to the country's Start-Up Visa (SUV) Program aimed at enhancing efficiency and reducing processing times by restricting the number of permanent residence (PR) applications accepted under it. 

📝 What Happened
Each designated organization can now sponsor no more than 10 start-ups per year. IRCC is also going to provide priority processing for the most promising start-ups by focusing on entrepreneurs whose start-up is supported by Canadian capital or by a business incubator that is a member of Canada’s Tech Network, including applications in the inventory and new applications.

⏸️ Pause on Self-Employed Persons Program
To further address the current backlog of SUV applications, IRCC will temporarily halt new applications for the Self-Employed Persons Program, which provides a pathway to permanent residency for individuals contributing to Canada’s cultural scene.

💼 Why It’s Happening
With a combination of a restriction in application intake until the end of 2026 and planned increases in admissions for the federal business category as tabled in the 2024-2026 multi-year levels plan, IRCC plans to reduce the backlog and bring down wait times while continuing to welcome “talented, innovative and entrepreneurial newcomers”.

🚀 Why It Matters
According to Miller, fast processing is critical to the success of entrepreneurs who come to Canada through its federal business programs. The changes, which the minister referred to as “necessary,” are intended to implement faster processing times while Ottawa looks ahead to further reforms to make these programs more “sustainable” and “effective” over the long term.


  • Starting April 30, international students in Canada were limited to working 20 hours per week, a change from the temporary increase allowed during COVID-19. This fall, the limit will be adjusted to 24 hours to balance study and work needs, ensuring students primarily focus on their education. Read more

  • Despite a softer labour market in 2023, Canadian employers increasingly relied on temporary foreign workers, filling about 240,000 jobs, a 7.5% increase from the previous year. This rise reflects ongoing adjustments to the Temporary Foreign Worker Program (TFWP) aimed at addressing labour shortages. Read more

  • The 2024 Federal Budget addresses pressing concerns facing Canadians and newcomers alike, such as affordable housing, matching immigration numbers with Canada’s housing capacity, tackling inflation, and improving the Foreign Credential Recognition Program. Initiatives towards this aim include the construction of 3.87 million new homes by 2031, reducing grocery costs through the National School Food Program, and delivering, on a priority basis, its $93 billion suite of major economic investment tax credits to drive growth. Read more

  • A recent report highlights a significant increase in Indian students and skilled workers choosing Canada over the US, largely due to Canada's more favourable immigration policies. This trend reflects Canada's welcoming stance towards international talent, contrasting with more restrictive US policies. Read more 


Moving to Canada? The next several months will be full of excitement and new beginnings.  Scotiabank is here to help you navigate this process with banking solutions that help newcomers succeed financially.  Learn more about our StartRightTM Program that allows newcomers to earn up to $1,800* in value.1 

1 Potential value in 1st year. Conditions & assumptions apply.


  • Manitoba PNP Draw: Province Issues 941 Letters of Advice to Skilled Workers and International Students Read more

  • British Columbia PNP Draw: Province Issues 75 Invitations in Latest Draw Read more

  • Alberta PNP Draw: Province Issues 49 Invitations For Healthcare Professionals Read more