May 30, 2024


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Canada’s path to visa opening for Colombian and Latin American entrepreneurs

Canada’s path to visa opening for Colombian and Latin American entrepreneurs

One way that different countries use to attract international talent is the startup visa. This option is aimed at entrepreneurs and digital nomads to expand their business or develop their business idea in a market other than their own country. Canada, the only G7 country with free trade agreements with other member states, and a country widely known for its openness to immigrants, has opened this path since 2015.

Over the past five years, 1,613 foreign entrepreneurs in Canada have been recognized for such status, adding 200 new businesses to the business environment system in this part of the world.

The fact that more than 20% of Canadian residents are born out of the country and 41% of the national population are first- or second-generation Canadians makes this part of the world a great business laboratory because multiculturalism opens up all kinds of opportunities. Businesses.

“Adaptation is an important challenge that all companies and entrepreneurs face as they embark on an expansion process. However, it is not a complex process. It is enough to be familiar with the company’s culture and way of doing business. Compatibility and knowledge of the product or service is essential,” said Andres Belip Ray, managing director of Synestico.

A study by Statistics Canada reveals that companies created by outsiders are younger, faster growing and creating more jobs. At the same time, they are more likely to enter global markets because, because of their emigrant status, their leaders are naturally risky. More than 30% of companies in Canada are created and created by immigrants. Requirements for obtaining a start-up visa include a minimum of 10% participation in shares of innovation companies and a letter of application support from the business archive. Another way to certify Canadian investment is through the Angel Investors Network or through a venture investment firm. If the entrepreneur meets other additional requirements upon immigration to Canada, he or she may apply for permanent residency. Among the attractions that the Canadian ecosystem offers to entrepreneurs, the Toronto-Waterloo area, considered the Silicon Valley of the north, has a much higher institutional growth rate than the United States. Montreal is one of the centers of business developmentSpecializing in artificial intelligence around the world, there are more than 900 commercial incubators in the country.

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Educational training is the gateway to the Canadian business environment system and can be the first step in starting a business. This is the case of Laura Montoya of Colombia, who came to Canada as a student and today runs her own hand-woven jewelry company. “We wanted to study and work in a country where we could do both at the same time. Canada offers this option. In addition, it’s not far from Colombia, and it’s happening with other countries with similar plans, “said LM Handovan, the creator.

As a result of the merging of these two worlds of study and entrepreneurship, another company was born that specializes in providing advice to aspirants living in Canada. “Edooconnect was established with the main purpose of supporting and guiding visitors to Canada. Being a foreigner can be challenging and challenging, so we guide you to be as comfortable and friendly as possible,” said Edooconnect’s CEO Yomaira Carrillo.