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Business Immigration, has ushered the enormous amount of growth in Canada, especially due to the fact that Canada has one of the most advanced infrastructure supporting the Business governance, free of red tape and smooth functioning capitalistic economy with right mix of socialism to protect your near and dear ones. Every province has its own Business Stream Immigration. This Article concentrates on the Business Immigration in Ontario.
Business Immigration Through Ontario Entrepreneurship Stream. The requirements, are stated herein which are required for anyone to be eligible for Business Immigration. However, it may be noted that eligibility towards completion of such requirements doesnt necessitate grant of Permanent residency. Its highly competitive process with right mix of business plan, properly laid out application supporting Canadian Economy.
1. At least 24 months of experience. 2 years
Your experience must be as a business owner or as a senior manager (business management). As a business owner you must have had an active role in the business and owned at least one-third of the business. As a senior manager you must have had senior decision-making responsibilities in the business.
2. Net worth
If your proposed business will be located:
within the Greater Toronto Area (City of Toronto and Durham, Halton, York and Peel regions) you must have a minimum net worth of 800,000 CDN.
outside of the Greater Toronto Area you must have a minimum net worth of $400,000 CDN.
If your proposed business is in the information and communications technology/digital communications sector then regardless of location, you must have a minimum net worth of $400,000 CDN.
3. Personal investment funds and minimum equity
If your proposed business will be located:
within the Greater Toronto Area, you must make a minimum personal investment of $600,000 CDN and control at least one-third of the equity in the business
outside of the Greater Toronto Area, you must make a minimum personal investment of $200,000 CDN and control at least one-third of the equity in the business
If your proposed business is in the information and communications technology/digital communications sector then regardless of location, you must make a minimum personal investment of $200,000 CDN and control at least of one-third of the equity in the business.
The Ontario Immigrant Nominee Program (OINP) welcomes foreign national entrepreneurs willing to invest in Ontario. Candidates who are invited to apply for permanent residency nomination under the Entrepreneur Stream would be considered, but not guaranteed for approval, and applications are assessed against the criteria as set out under section 13 of Ontario Regulation 422/17 (General), as further explained in the Application Guide: Entrepreneur Stream. The criteria include an applicant demonstrating that they meet minimum personal net worth and investment criteria. While passive investments, including mutual and/or pooled fund securities, are permissible for the purpose of satisfying the personal net worth criterion, they are not eligible for inclusion in an applicants minimum business investment amount
4. The applicant will create, within the first 20 months of establishing or acquiring the business,
i. at least two permanent, full-time jobs that are paid at no less than the median wage level for the position, if the business is located in the Greater Toronto Area,
ii. at least one permanent, full-time job that is paid at no less than the median wage level for the position, if the business is located outside the Greater Toronto Area, and
iii. at least one permanent, full-time job that is paid at no less than the median wage level for the position, if the business is in the information and communications technology or digital communications sector, regardless of location.
7. Additional requirements if purchasing an existing business
If you plan to purchase an existing business:
you must make at least one business-related visit to Ontario within 12 months from the date of registering an Expression of Interest
the business being purchased must have been in continuous operation by the same owner(s) for the previous 60 months
ownership of the business must be completely transferred to the applicant or any business partner
you must use at least 10% of your personal investment towards improving or expanding the business in Ontario
you must keep all permanent full-time employees that worked in the business prior to the transfer of ownership
Ineligible types of businesses
Before you start the process of applying you need to ensure that your proposed business is not one of the ineligible types listed below.
automated car wash business
pay day loan and related businesses
scrap metal recycling
a business involved in producing, distributing or selling pornography or sexually explicit products or services, or providing sexually oriented services
businesses which have been previously owned/operated by current or former OINP business stream nominees
If your proposed business will be located in the Greater Toronto Area, the following types are also ineligible.
existing franchises in Ontario (new foreign franchises expanding into Ontario are permitted)
bed and breakfasts