Excellent news for business owners! Some analysts have referred to Canada’s recently announced startup visa scheme as a “golden opportunity” for working overseas.
As per the BBC, Samina, a Pakistani entrepreneur, has effectively obtained her Canadian immigration through the Canadian Startup Visa Program. This program does not impose any points system with limitations like age limit, job offer, education, or experience.
The primary target audience for the visa program is gifted foreign nationals hoping to launch or build their own small business in Canada.
As per the standards established to evaluate a startup’s quality, it must be inventive, generate employment opportunities for the community, and contend with global players.
Although there is no point system for this visa category, applicants must only apply if they think their technology-related business idea will benefit the Canadian market.
Samina just registered for the same startup visa program as her four-member family. She emphasizes that after making strategic adjustments, a corporation must register in Pakistan before starting the registration process in Canada.
Following startup, a progress report is needed every few months.
She advised against hiring a consultant unless they are genuinely trustworthy, as there is a significant cost involved.
“Most of your money seems to be what your consultant charges you because he arranges the letter of support for you.”
Samina claims that her family contributed more than Rs. 10 million to the scheme for startup visas.
She said that the initiative provides businesses with financial support and training, with Canadian authorities keeping an eye on their progress. Numerous program creators are over 60, and there is no upper age limit.
Although it is not so simple to just build a startup, Samina thinks that anyone with funds and a decent start-up idea can apply. This is in multiple stages.
“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 advises.
The visa requires voting power, share ownership, and a legitimate firm. A startup must have the backing of a Canadian organization or other approved authority, and a maximum of five persons may apply.
The company must also be based, function, and conduct its primary business operations within Canada.
In the interim, applicants must demonstrate their ability to support themselves and their dependents and speak English or French fluently in order to be granted a visa.
The visa is intended for creative start-up ideas with a worldwide scope that have the potential to generate employment in Canada, not for regular businesspeople.
