The Canadian government has announced a shift in its immigration policy, aiming to reduce the annual target for permanent residency from 485,000 in 2024 to 365,000 by 2027. This decision, driven by growing public pressure, addresses issues of housing shortages and rising costs of living. While immigration has historically been a means to address labor shortages and support an aging population, concerns over Canada’s capacity to integrate newcomers have led to a recalibrated approach to immigration targets.
Canada’s Start-up Visa (SUV) program will also see significant changes. The new plan reduces the SUV quota to 1,000–2,000 applications annually, focusing on ventures backed by major investment firms and business incubators. The government intends to prioritize these high-value applications, offering faster processing for projects that demonstrate strong economic potential. Meanwhile, entrepreneurs outside priority categories may experience extended wait times, though they are eligible for a three-year open work permit to live and work in Canada during the application process.
This adjustment reflects Canada’s evolving immigration strategy, shifting from simply attracting high numbers of immigrants to ensuring sustainable integration and manageable growth. The new measures in the SUV program underscore this recalibration, signaling a focus on quality over quantity and balancing the economic benefits of immigration with its social impacts.
