Business Immigration to Canada: Ontario Corporate Stream
Do you own a successful business? Are you planning to expand your business internationally? Or do you wish to buy an existing business abroad? If yes, then the Ontario Corporate Stream might be right for you. This program allows business immigration to Canada.
What is the Ontario Corporate Stream?
The Ontario Corporate Stream was established by the Government of Ontario to simplify business immigration to Canada. This immigration program allows international corporations to expand into Ontario. Under this program, foreign investors also have the option of purchasing an existing business in Ontario. Besides the obvious advantages and opportunities that expanding to Ontario would create for your business, the most attractive benefit of this program is that up to 5 key staff members can receive Canadian permanent resident status through this program.
Who can apply?
The following are the requirements for the corporation and key staff to meet.
Corporation Requirements: In a nutshell, if your corporation is successful, you can prove that it has had a good track record for the past 3 years, and you’re prepared to make an investment of C$5 Million, you should consider the Ontario Corporate Stream for business immigration to Canada.
Key Staff Requirements: Your key staff must prove that they have basic knowledge of English; 3 years of experience within the past 5 years in an executive, managerial or specialized position; and be prepared to live in Ontario for most of the year while establishing the business.
How to apply?
The process is very long and involved. You will have to prepare a realistic business plan, attend an interview, and meet the requirements of a performance agreement established between the province of Ontario and your business. Once you’ve shown that you’ve fulfilled your part according to the performance agreement, you and the other key staff receive permanent resident status.
Advantages of Business Immigration to Canada, Ontario
Ontario is the number one destination for immigration in Canada. In fact, in the fDi Report 2018 from the Financial Times, Ontario is now ranked as one of the top 3 destinations in all of North America for foreign direct investments. Ontario has even surpassed popular destinations like California and New York. Foreign investors have expressed greater confidence and optimism in Ontario’s economy. The province is a global leader in transformative technologies, from artificial intelligence to quantum research and beyond. The innovative platforms and new technologies allow businesses in Ontario to operate more competitively. The government offers many incentive programs and services which have made it very simple for businesses to grow and expand in Ontario, for example, by lowering corporate taxes, labor expenses, expansion costs, and more. Established businesses, both large and small, are choosing to make their investments in Ontario. The business-friendly Canadian regulations make Ontario a safe bet for foreign investors and businesses.
We, at Cohen Decker, Pex & Brosh Law Offices are prepared to walk you and your team through the application process from beginning to end. From perfecting your business plan to receiving your permanent resident status, we’re here to help you.