More Options for Start-ups, Entrepreneurs & Corporations
Start-up Founders, Entrepreneurs or established Corporations who are looking to immigrate to Canada now have more visa options. The Ministry of Citizenship, Immigration and Trade for the province of Ontario just announced two new immigration streams under the Ontario Immigrant Nominee Program (OINP). These new categories come into effect before winter:
- Entrepreneur Stream
- Corporate Stream
Here's what we know so far:
Ontario is aiming to attract Start-ups/Entrepreneurs who will operate businesses that are well-suited to our province. Applicants must submit a proposal to the government for approval. If it is accepted, the applicant and one business partner, as needed, may apply for a temporary work permit to launch their business. After two years, the Applicant(s) is eligible to apply for Permanent Residency.
- Investment of $500,000 or more for each potential nominee, depending on location and sector
- Net worth of $800,000 or more for each potential nominee depending on location and sector
- The applicant may identify a business partner for nomination as well
- The entrepreneur and/or business partner must meet additional standards, such as language proficiency, within two years
- The enterprise must create two or more full-time, permanent jobs for Canadians and/or Permanent Residents
- More criteria to be announced
This niche is for established international corporations aiming to expand into Ontario or purchase an existing Company. If your corporate proposal is approved, key staff may apply for temporary work permits in order to establish the enterprise. After the two-year period, each eligible Senior Executive/Employee may be granted Permanent Resident status.
- Corporations must invest $5 million in a new or existing business
- Key staff seeking nomination must be currently employed with the corporation and must be essential to the operation of the business in Ontario
- Staff nominees must demonstrate language proficiency within 2 years
- Five full-time, permanent positions must be created for Canadian Citizens and/or Permanent Residents per each nominee position
- More criteria to be announced
"Good things grow, in Ontario"
Many corporations are likely to succeed in Ontario for numerous reasons, some of which include:
- Our well educated work force that has roots in practically every nation in the world
- Our favourable corporate tax rates
- Close proximity and strong ties to the huge US market
We have a valuable start-up ecosystem here as well. Ontario has generated some of the most impressive technology start-ups in the world, such as:
In particular, our Toronto-Kitchener-Waterloo area is the leading technology hub in Canada.
Moreover, our province has great incubators, accelerators, financial services, neighbourhoods and quality of life. Whether you are an urbanite, suburbanite or like the country life; we have a place for you in Ontario, Canada!
Ready to Start Your Journey now?
While we wait for the new Entrepreneur and Corporate Streams to come into effect, remember you may be able to start your journey now via current immigration categories like Canada's Start-up Visa. Simply send us an email at firstname.lastname@example.org to start.
Business Visa Canada is here to Accelerate Solutions for Start-ups, Entrepreneurs and Investors who aim to grow in Canada.