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Visa program is mainly for talented foreigners who want to establish small business or startup in Canada
Good news for entrepreneurs! Canada has recently announced a startup visa program that has been hailed by some experts as a “golden opportunity” to work abroad.
According to the BBC, a Pakistani entrepreneur, Samina, successfully acquired her Canadian immigration through the Canadian Startup Visa Program which does not apply a points system with conditions such as education, experience, job offer, or an age limit.
The visa program is mainly for talented foreigners who want to establish their own small business or startup in Canada.
The startup should be innovative, create new jobs for local people, and compete globally, according to the criteria set to assess the quality of a startup.
While this visa program does not use a points system, one can only apply if they have a technology-related business idea that they believe will be beneficial to the Canadian market.
Samina, with her family of four, recently applied under the same startup visa program. She explains that a company must be registered in Pakistan, and after making strategic changes, registration in Canada begins.
A progress report is required every few months after start-up.
She cautioned that there is a hefty price to pay if you hire a consultant unless they are truly trustworthy.
“Most of your money seems to be what your consultant charges you because he arranges the letter of support for you.”
Samina says that her family invested over Rs10 million in the start-up visa program.
She revealed that the program offers funding and education to startups, with Canadian authorities monitoring their success. The program has no age limit, with some founders over 60.
Samina believes that anyone with capital and a good start-up idea can apply but it is not so easy to just create a startup. There are several stages in this.
“It’s best to get in touch with a consultant who is familiar with Canadian organisations and can help you organise a letter of support for your startup,” she says.
The visa requires a valid business, ownership of shares, and voting power. A maximum of five people can apply, with a startup that must be supported by a Canadian organisation or designated body.
Additionally, the business must operate in Canada, have main activities, and be established in Canada.
Meanwhile, applicants must be fluent in either English or French for the visa and provide evidence of resources to support themselves and their dependents.
The visa is not for general business people, but for innovative start-up plans with global reach that can create new jobs in Canada.
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