Ontario Entrepreneur Immigration
Ontario’s immigrant nominee program was modernized and enhanced in 2017 to attract skilled and experienced individuals from around the world to come and contribute to Ontario’s economy. Currently, the province of Ontario is the driving force behind Canada’s economy and immigration program. In an effort to ensure its continued prosperity, the Government of Ontario has announced that it plans to invite a higher number of economic immigrants in 2018. Among the economic immigration programs offered by the province is Ontario’s Entrepreneur Immigration Stream.
Good news for entrepreneurs
The Province of Ontario has the largest immigration program in Canada. This is reflected by the fact that Ontario takes in the highest number of immigrants compared with all other Canadian provinces and territories. Since 2016, the government of Canada has granted Ontario a 20% increase in the number of immigrants it can nominate to come in. For skilled and experienced migrants, especially entrepreneurs, the doors to Ontario are wide open.
Entrepreneurs receive Permanent Residence
The Ontario Entrepreneur Immigration program was recently modernized and is among the most attractive Canadian immigration programs. It was designed to draw entrepreneurs from across the globe to settle in Ontario and develop a new business idea or purchase an existing Ontarian business. The ultimate goal is to contribute to the province’s economic prosperity. In return, entrepreneurs will be selected for permanent residence once they have successfully launched their business in Ontario.
Who can apply for the Ontario Entrepreneur Immigration program?
In order to be eligible for the Ontario entrepreneur immigration stream, the entrepreneur must meet the minimum requirements. These requirements are based on different factors such as investment amount, net worth, work experience, language skills, and more. For example, an entrepreneur must make a minimum investment based on location: C$1 Million for a business within the Greater Toronto Area and C$500,000 for any other area in Ontario. The entrepreneur must also provide evidence showing a net worth of C$1.5 M or $800,000, again depending on location. The entrepreneur must have 3 years of work experience as a business owner or senior manager within the past 5 years and create at least 2 full-time jobs.
In the past, the minimum language requirement was higher and therefore restricted many foreign nationals from making the cut. However, one of the recent enhancements made by the government of Ontario to the entrepreneur immigration program was to reduce the language requirement; thereby attracting more foreign entrepreneurs with basic language skills who will create more jobs and contribute to the economy.
Another benefit to the Ontario entrepreneur immigration stream is the ability to nominate a business partner to invest in the business with you. Your business partner, must also meet the minimum requirements just as you do. For more about the requirements, visit the Government of Ontario website or contact our office.
How can people apply?
Meeting the minimum requirements is just the beginning. The application process includes online registration; an invitation from Ontario to apply based on your merits; a business plan and a thick application package with evidence, a mandatory interview; a performance agreement; a temporary work permit; nomination; and finally a permanent residence application. The process is long and involved, but certainly doable. We at Cohen, Decker, Pex & Brosh Law Offices are prepared to help you through it.
If you are interested in learning more about the Ontario Entrepreneur immigration program, please contact our office. We would be happy to help you with the application process. If you are unsure about your immigration possibilities to Canada, we at Cohen, Decker, Pex & Brosh Law Offices recommend that you order our affordable Canadian Immigration Assessment Package. You will receive an immigration assessment to measure your eligibility and a consultation meeting in our office.