Canada invites fresh graduates to business in Alberta
The new immigration pathway to Canada encourages foreign graduates to start-up a new business in Alberta.
Canada, under its new immigration pathway, invites foreign graduates to Alberta to open a new business in the country. It can be seen as a piece of good news for aspiring entrepreneurs who did not acquire their degree from a Canadian university.
The Foreign Graduate Start-up Visa Stream (FGSVS) was launched on January 27th 2021. It aims to attract fresh and talented foreign entrepreneurs into Canada. This stream is the latest business visa pathway for fresh graduates, looking for a start-up opportunity. According to CIC News, the FGSVS along with the Alberta Immigration Nominee Programme (AINP) is now accepting applications.
This news arrives in addition to the earlier announcement in which 52,000 eligible Post-Graduate Work Permit holders can apply for the new work extension for 18 months until 27th July 2021. The extension will permit applicants with an expiring work permit to finalise work and living arrangements so that they can gain sufficient experience to acquire permanent residency.
Alberta's Foreign Graduate Start-up Visa Stream
Each province in Canada nominates candidates through various immigration programs and invites them to apply for Canada PR Visa. Here's a piece of detailed information about the latest immigration to Canada pathway in Alberta.
Enticing opportunities for recent graduates
Alberta, in the latest immigration program, targets fresh graduates from all over the world to kick-start their business careers in Canada. Applicants who graduated from a recognised post-secondary institution outside Canada in the last two years are eligible for FGSVS. Regarded, all applicants must have equivalent educational credentials to a Canadian degree. Besides
Other Eligibility Criteria
A candidate must have:
Worked in or as business ownership/management/accelerator or business incubator for at least 6 months in a full-time job.
A business plan ready with all financial forecasts.
A business proposal presentation.
Proof of proficiency in English or French.
The capacity to demonstrate ownership according to the area allocated.
Minimum equity investment, along with investment from a known financial institution.
A letter of reference from the appointed organization approved by the AINP.
The finances required to set up the company and to sustain themselves when initiating the start-up
Alberta is calling, begin your process today!
Almost every immigration pathways in Canada work on a point-based system. Similarly, AINP also follows a point-based system. Therefore, the more points you gain, the more chances you have to get invited to apply for a permanent residency in Canada.
Applicants can start their process by submitting an Expression of Interest (EOI) to the AINP to be considered for a provincial nomination. This includes answering a few questions based on your experience and qualifications. Your profile will be assessed and awarded points to clear FAVS eligibility. Candidates with the highest scores will be asked to submit a Business Application.
If you are an aspiring entrepreneur seeking opportunities overseas, you are advised to work with certified immigration consultants as this pathway is entirely new and not enough information is available on the internet.
Explore alternative streams to open a business
In addition to the Alberta Opportunity Stream and the Alberta Express Entry Stream, skilled employees and foreign graduates can also apply to purchase or start a business in Alberta through two other systems. Recent foreign graduates from Alberta post-secondary institutions can start a business and gain permanent residence through the International Graduate Entrepreneur Immigration Stream. In fact, applicants who know how to run a farm and have the capital to invest in one should consider the Alberta Self-Employed Farmer Stream.