Ontario will accept 100 international entrepreneurs in the next two years
Note: This is a summary of the news published in the Global News with files from The Canadian Press.
According to local media, Ontario is planning to accept 100 immigrants after they invest a minimum of $200,000 in the province’s economy. Global News informed that Ontario will accept these international entrepreneurs in the next two years under a program that allows foreign entrepreneurs to apply for immigration to Ontario. Moreover, the government will focus on attracting these entrepreneurs to Ontario communities outside the GTA, said Labour Minister Monte McNaughton.
Entrepreneurs must start a new business or purchase an existing one in Ontario. Then, they will be nominated for immigration under the province’s economic immigration program. The news said the previous Ontario government founded this stream in 2015 “but only two immigrant investors have been nominated using it since then”.
It is not clear which immigration stream they refer to, but one of the options that Ontario has for international entrepreneurs is the Ontario Entrepreneur Stream.
The Ontario Entrepreneur Stream (OINP-EN) targets senior managers and business owners interested in starting a business in Ontario. The stream allows international entrepreneurs to be nominated for Canadian permanent residency once the company is established in the province.
According to Al Parsai, as a business owner, you need to own at least one-third of the business back home and also have an active role in the operation of the company. Therefore, a mere investment in the firm does not count. In fact, they want to see your involvement in the day-to-day operations of the business.
As a senior manager, you must have a say in the main decision-making area of the business. For example, we could refer to areas such as research and development, human resources, finance, sales, marketing, distribution, or operations.
Business immigration to Canada
Please be aware that there are several options to immigrate to Canada if you are self-employed or have a business mind and enough expertise:
- Self-employed: This option is available to self-employed or world-class professionals in athletics or cultural activities. Of course, you must meet the strict criteria.
- Start-up visa: You may pick this option if you have an innovative idea. However, a designated organization must support your proposal.
- IMP C11: lets entrepreneurs and self-employed individuals apply for a work permit that does not require LMIA.
As a business person, you may also target a specific province or territory in Canada. Here are more options:
- Ontario Entrepreneur Stream
- Alberta Foreign Graduate Start-Up Visa Stream
- Direct permanent residence
- Work-permit first
- Quebec options
- Provinces that do not support business immigration
<<Read: Business immigration to Canada>>
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