On Thursday, October 19th, Roseview Global’s Vice President of Strategy and Business Development, Michael Dearden, spoke at a webinar titled, “Joorney & Roseview: A Designated Organization’s Perspective on the Impact of the Start-Up Visa Changes”.
Hosted by Joorney, a business plan writing and development company, the webinar focused on Roseview Global’s perspectives as an IRCC-designated organization, as well as recent changes to the SUV program. Attendees consisted of present and future international entrepreneurs, immigration professionals, and more.
Here are some of the key takeaways from the webinar:
- Designated organizations are chosen for their business expertise by IRCC. They review applications to the SUV program to determine if the business proposed and its team meets the criteria of the program and with support is likely to be successful in Canada. There are three types of designated organizations, Venture Capital firms, Angel Investors and Business Incubators like Roseview Global Incubator.
- RGI does not take equity in businesses, but instead has fees for its programs. These fees are dictated by the number of team members applying to the program.
- What separates RGI from other designated entities is that they support their clients for as long as it takes IRCC to make a decision on their PR application. Roseview also encourages former clients to stay in touch so that they can continue to support their business.
- In May, the former federal Minister of Immigration highlighted some issues within business immigration in Canada and discussed potential changes such as changing the terms for work permits and adding additional designated organizations. Since then, a new minister has been appointed, putting delays on any changes to the SUV program. Despite the lack of recent changes, Roseview is putting additional focus on making sure clients have sufficient funds and detailed staffing plans.
- Roseview has noticed the government tightening up on rules and regulations for the SUV program. Much of this is due to people going through the SUV program who either weren’t ideal candidates, or did not meet requirements. This is why Roseview has a rigorous Due Diligence process to ensure that accepted candidates have the highest chance of meeting requirements and are in the best possible position to succeed.
- The IRCC review process goes as follows: a designated organization submits their recommendation – officials at IRCC review the application – the IRCC may go out and ask industry experts to do a peer review if they are unsure of a business meeting criteria.
The event concluded with a Q&A portion, where attendees asked Mike to elaborate on specific topics. If you missed it, the full webinar is linked below for your viewing: https://www.youtube.com/watch?v=5rA8A0rs0Ho