Are you interested in business immigration to celebrated Ontario?
Obtaining Canadian citizenship is more than real. In Canada, a visa is available for a wide range of business immigrants. Imagine starting a business in Canada now opens up huge opportunities for a great number of people worldwide.
First, why in Canada immigration is so popular? Indeed, business in Canada is already outstandingly developed. This country has one of the most powerful economies in the world.
And speaking of immigration Canada is a very welcoming country. But why, if its businessmen are doing so well on their own?
The well-known generation theory of Strauss and Hove gives an answer. The fact is that baby boomers (a generation born after the Second World War) increased the average birth rate in the country from 240 thousand people exactly twice. After the war, it amounted to 480 thousand people a year. There were no military activities in Canada, the destruction of cities did not happen, the country received a strong competitive advantage. And a country took full advantage of it.
Now the population ages critically. According to forecasts published by the Canadian National Immigration Center, by 2030, 25% of the country’s people will be over 65 years old. However, by this time another 5 million Canadians will retire.
That is why for a permanent residence in Canada the most active part of the world’s population – entrepreneurs is gladly invited.
Do you have a bright startup? Do you want to buy a ready business? Or maybe you’re a well-qualified self-employed professional? Then read this article to the very end!
A little about Ontario
Ontario’s population has arrived in this province from over 200 countries. Ontario’s economy currently accounts for about half of all state production.
The main branches of business in the province:
• heavy industry
• rural production
• forest industry
• services sector
Ontario Business Immigration Program
The program is called the Ontario Immigrant Nominee Program (OINP). It includes the Corporate Stream and Entrepreneur Stream programs.
Two ways of business immigration Canada suggest:
• purchase of a ready-made business
• opening a start-up
A number of invited entrepreneurs include:
• self-employed highly qualified specialists
Personal data must meet the definition of a business category established by business immigration rules, according to which a potential immigrant intends to file a petition.
Minimum requirements you must fulfil:
• At least 24 months of professional activity over the past 5 years. Positions: an owner or a c-level specialist
• For Greater Toronto Area (GTA): your net worth should be at least 800k CDN (out of it, the required amount is 2 times less, and also in case if your business is in the sphere of communication or digital technologies)
• Creation of at least 2 jobs for a full-time working (outside the Greater Toronto Area, or if, again, your area is IT and telecom at least 1 workplace should be created)
• Personal investment in the business is at least 600k CDN or 200k for the above-mentioned territories or areas of business)
• You must be actively involved in business management
Strategic requirements you must meet:
• your business must be permanent
• the goal of doing your business should be making a profit
• compliance with all legal regulations should be achieved
Additional requirements if you decide to purchase an existing business in Canada:
• At least 1 business visit to Ontario in the last 12 months from the date of registration for the Expression of Interest program (provincial online application program)
• You must use a minimum of 10% personal investment to improve or expand your business in Ontario
• You must be a rightful business owner
• The business must be managed by the same owners over the past 5 years
• All full-time employees must retain their jobs
Make a serious business plan to highly increase your chances!
You have to provide a truly deeply crafted business plan. You need to understand in advance that insufficiently deep elaboration or errors in calculations are not permissible. As noted earlier, an application is submitted through the Expression of Interest program. As a result of the evaluation, all projects are rated according to the point system, where points are assigned based on several parameters. Points are awarded in two categories: business ownership experience and business management experience.
What are the criteria for scoring? They are:
- How long have you owned/run the business for
- How much personal funds do you have
- How much do you plan to invest
- How many business trips to Canada you have made
- Your level of English
- Your education
Your start-up visa is truly feasible if you carefully prepare your business plan. The best projects are named every 120 days.
The difference between OINP Entrepreneur Stream and OINP Corporate Stream
|Program||Personal investment funds||Minimal Investment||Minimal Liquid Funds||Experience||Participation in management|
|OINP Entrepreneur Stream||
Minimum personal investment: o,6M CDN within the Greater Toronto Area
o,2M CDN outside the Greater Toronto Area (!)
In Greater Toronto: 10M CDN and ownership of 33.3% of venture capital
Outside Greater Toronto: 10M CDN and ownership of 33.3% of venture capital
Information and communications technology / digital communications: 0,5M CDN and ownership of 33.3% of the enterprise’s capital
For businesses located within Greater Toronto (GTA): o,8M CDN
For businesses located outside Greater Toronto (GTA): o,4M CDN
For enterprises in the field of information and communication technologies / digital communications (regardless of location): o,4M CDN
|At least 36 months (out of the last 60) of work experience as a business owner or senior manager on a full-time basis||Required|
|OINP Corporate Stream||none||5M CDN or 10M CDN if the business involves building land or renting property||none||If it is proposed to open a representative office of an international corporation, then such a corporation must exist for at least 36 months at the time of application||Required|
Note: liquid funds include business, real estate, cash in a bank account, securities or inherited funds.
OINP allows being nominated for permanent residence once the business has been established in Ontario. When nominated, apply to the federal government through Immigration, Refugees and Citizenship Canada (IRCC).
It should be noted that approximately a quarter of Ontario’s accepted applicants belong to the ICT sector. Information and Communication Technologies is, in fact, the most emphasized area. Not surprisingly, it is precisely this sector of the economy and innovation that shows the most rapid and at the same time steady growth in the whole world.
After fulfilling the conditions of both programs (Entrepreneur Stream / Corporate Stream), a person receives the status of a permanent resident.
What is the main difference from the prospect of the possibility of a further permanent residence Canada provides? In case of successful completion of the Entrepreneur Stream program, the applicant receives a work permit. He can come to the country with his family.
Under this program, up to 2 applicants who are business partners can pass.
Life after going through the program
Ontario is the most developed province in the country. It is a leader in living standards, prosperity, innovation, a variety of cultural events, the number of interesting architectural projects and much more.
The bulk of immigrants trying to go through this program. After all, Ontario offers great opportunities for speedy adaptation, pouring into society, finding a circle of friends for every taste, further self-realization, quickly finding clients and business partners, and many others.
This is where the capital of Canada, Ottawa, is located. Ontario also has the largest and most developed metropolis of the country Toronto. This is a powerful production and logistics hub. This multicultural city can conquer the heart of a representative of any nation.
In conclusion, the generally high level of culture of Canadians should be noted. A high average level of education, widespread cultural projects and the general openness of society are the keys to a comfortable life in Ontario.
Do you need a free consultation on Ontario business immigration?
Our specialists are ready to give you highly qualified support. Contact us right now!