Canadian Start-up Visa: A Double-Edged Sword?
🏢The Canadian Start-up Visa (SUV) program, once hailed as a beacon for innovation and entrepreneurship, has recently come under scrutiny for alleged abuses. The government’s recent announcement of a marked reduction in quotas to approximately 150 projects per year, translating to nearly 2,000 visas, is a significant step towards addressing these concerns.
🔎While this reduction is a positive move, it’s crucial to ensure that the program remains accessible to genuine entrepreneurs. The success of this reform hinges on the rigorous selection of authentic projects from qualified individuals. Any deviation from this path risks alienating legitimate applicants and hindering economic growth.
🔎Despite the initial pause following the reform’s implementation on April 30, unscrupulous intermediaries have resurfaced, offering the same deceptive schemes. These intermediaries continue to entice unsuspecting investors with promises of passive investment, fixed prices, and minimal involvement. Unfortunately, many of these individuals find themselves turned away at Canadian customs, despite possessing seemingly legitimate documentation.
❗️The blame for these unfortunate outcomes cannot be solely attributed to the intermediaries. Investors must exercise due diligence and avoid falling victim to such scams. By allowing their entrepreneurial profiles to be manipulated and paying exorbitant fees, they are ultimately contributing to the problem.
✅The reduced quotas present an opportunity for genuine entrepreneurs to forge meaningful partnerships with reputable entities. By collaborating with experienced partners, these individuals can navigate the complexities of the program, secure funding, and contribute meaningfully to the Canadian economy.
👤Michel Verdy, a seasoned entrepreneur and former manager of the Immigrant Investors program of Quebec, understands the intricacies of these programs. With his expertise in start-up creation and international business, he can provide valuable insights to aspiring entrepreneurs seeking to leverage the SUV program.
📤Specific details: https://www.canada.ca/…/speaking-notes-for-the…
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