Entrepreneurs immigrating to Canada to start a new business now have an easier path when setting up shop in Ontario, thanks to updated policies regarding the Ontario Immigrant Nominee Program Entrepreneur Stream.
The reduced prerequisites for successful application to this program creates opportunities for a wider range of entrepreneurs who want to directly access the nation’s largest consumer markets and talent pools unavailable in competing provinces.
The reduced requirements for business immigration have been set in motion as a response to the shifting economic climate in which foreign investment helps to address challenges.
Previously, the minimum requirements stated that applicants needed a minimum investment of a million dollars to secure entry into Ontario. The province’s website states the current requirements:
Despite the reduced capital needed to obtain immigration rights through the Entrepreneur Stream, the rest of the requirements remain, involving a long list of paperwork that proves you’re ready to prosper in Ontario.
Attracting global business investment continues to gain importance in markets around the world. Ontario is no different, which causes the province’s regulations to align with competitive immigrant business programs in less expensive provinces.
Despite the fact that Ontario tends to be the most desired business destination for immigrants, the province lost business to jurisdictions such as British Columbia, which provided bonuses for those willing to set up shop outside Vancouver, their biggest city.
Another new program is the Corporate Stream, which requires a minimum investment of $5 million and the creation of five full-time, permanent jobs. While this may be out of reach for the vast majority of people wishing to immigrate to Ontario, both streams represent a turn towards loosening business requirements for those who wish to invest in the province.
For those seeking to invest in Ontario, seeking expert representation ensures that legal hurdles don’t get in the way of taking advantage of economic opportunities.
Our lawyers and their staff are experienced independent practitioners affiliated with registered law firms. They have been carefully selected by VisaPlace to help you based on their experience and client service approach in Canadian and U.S. immigration law.
Click here to book a 1 on 1 consultation, or call us at 1-888-317-5770.
The content and comments of this blog are not legal advise and and may not be accurate or complete. If you require legal advice, contact a licensed legal practitioner directly. If you post on this blog, you assume full responsibility for disclosing your identity to the public and VisaPlace nor its affiliates are not responsible for protecting your privacy nor your identity concerning your participation in our blog and you assume any risks in participating.