Canada startup visa program has been designed for budding entrepreneurs from India and around the world
By Alan James Gammon
Today, Canada has become a thriving business hotspot with emerging entrepreneurs, investors, and businesses from across the globe seeking opportunities in the Canadian market.
There are several reasons why people choose to reside and develop businesses in Canada. To begin with, the Canadian government is quite accommodating when it comes to establishing new enterprises and corporations.
As Canada has a diversified population with a great combination of different cultures and communities coexisting, there are people from all backgrounds wanting to consume various products and services.
Read: Canada becoming the new hub for Indian entrepreneurs (November 8, 2021)
Canada’s population provides additional possibilities for aspiring entrepreneurs to consider. The practice of coming up with ‘startup’ concepts is also currently at an all-time high in India.
The pandemic that lasted nearly two years has had a significant impact on both Indian as well as the Canadian economy. Now that things are beginning to settle down, Canada has a number of programs to offer, such as the Intra-Company Transfer Program and the Canada Startup Visa Program.
These have been specifically designed to assist budding entrepreneurs from India and around the world in obtaining special visas and establishing their businesses in Canada.
Take the example of startups like Videotap and Zaggle that began in India but quickly gained a foothold in the Canadian market.
Canada has been named the world’s fourth most influential startup centre. Of late, It has seen an upsurge in the number of retail startups, conventional and/or e-commerce.
Programs such as Entrepreneurial LMIA (Labour Market Impact Assessment) and startup visa programs have been developed for aspiring entrepreneurs. The Canadian government has started to look for new talent for a booming economy, especially after covid.
Though high-tech companies are currently ruling the market, many of the startups have now begun to dominate the scene and it appears that they will overpower and rule the industry within the next few years.
However, it may remain challenging for small entrepreneurs who are seeking funds to start their firms as most of them lack the expertise and early proof of success in the initial phase of their entrepreneurial journey.
Another thing to note is that recently, crowdfunding platforms have presented a potential answer to these problems by allowing potential consumers to contribute to the startup of a firm.
Crowdfunding platforms such as Kickstarter, GoFundMe, and others are assisting budding entrepreneurs to gain a strong foothold in the market.
It is not necessary to have professional experience in order to start a business in Canada. Obtaining a Canadian visa involves a little technical knowledge and expertise, and you are set to go.
Through Canada’s Startup Visa Program, one can start a business there and become a Permanent Resident with entire family. Canada also has a low employment rate, which is one of the key factors that make it appealing to Indians.
According to the National Foundation for American Policy analysis of Immigration, Refugees, and Citizenship Canada data, the number of Indians who became permanent residents in Canada jumped from 39,340 in 2016 to 80,685 in 2019, a rise of more than 105%.
People are eager to move to Canada for a variety of reasons, including the fact that it boasts a wealthy lifestyle while also being a culturally diversified and inclusive place.
Immigration, Refugees, and Citizenship Canada modified its policy on immigrant selection and sponsorship in 2018-19 to make them more inclusive and diverse.
Read: How can Indians start a business in Canada? (July 26, 2021)
The policy also mentioned that fewer candidates with disabilities will be considered ineligible on health grounds. All the residents of Canada get access to high-quality healthcare facilities.
In addition, basic education is less expensive and, in certain areas, is provided without any charges. All of these advantages make Canada a safe option for Indians looking to move.
(Alan James Gammon is the chief operating officer, Ace Luxury Immigration Solutions)