Point-form relativistic quantum mechanics is used to derive an expression for the electromagnetic form factor of a pseudoscalar meson for spacelike momentum transfers. The elastic scattering of an electron by a confined quark-antiquark pair is treated as a relativistic two-channel problem for the qqe and qqeγ states. With the approximation that the total velocity of the qqe system is conserved at (electromagnetic) interaction vertices this simplifies to an eigenvalue problem for a Bakamjian-Thomas type mass operator. After elimination of the qqeγ channel the electromagnetic meson current and form factor can be directly read off from the one-photon-exchange optical potential. By choosing the invariant mass of the electron-meson system large enough, cluster separability violations become negligible. An equivalence with the usual front-form expression, resulting from a spectator current in the q + = 0 reference frame, is established. The generalization of this multichannel approach to electroweak form factors for an arbitrary bound few-body system is quite obvious. By an appropriate extension of the Hilbert space this approach is also able to accommodate exchange-current effects.