The Ontario government will soon be launching a new immigration program for entrepreneurs, which will enable applicants who buy, start or invest in a business in Ontario to be nominated for permanent residence by the Province of Ontario.
The investment component of this PNP helps companies making an investment in Ontario to recruit or relocate key employees to ensure the long-term success of the investment.
Endorsed and approved investments will receive nominee application packages for key positions for individuals recruited or relocated by companies making the investment in Ontario. These prospective nominees will need to meet the same eligibility criteria for foreign workers in the General Category; for example, nominee applicants will need to demonstrate at least two (2) years of work experience in the intended occupation or proper registration in Ontario if they intend to work in a regulated occupation.
There is a non-refundable fee of C$3,500 paid by the prospective nominee or by the company making the investment.
To qualify, investments must be of significant importance to Ontario and create jobs. New investments and expansions to current operations are eligible. Guidelines:
- The investment must receive an official endorsement from another Ontario ministry at the Deputy Minister level for the investment and the number of key positions requested.
- The investment is at least C$3,000,000.
- The investment must create at least five permanent full-time jobs for Canadian citizens or permanent residents in Ontario.
- The investment has to also comply with Immigration and Refugee Protection Regulations (IRPR).
Investment Nominee Positions (for Individual Investors) must also meet these requirements:
- Be necessary for the long-term success of the investment.
- Be in a skilled occupation (NOC 0, A, or B).
- Be permanent, full-time positions.
- Meet prevailing wage levels.
- Not affect the settlement of any labour dispute.
Companies can request multiple positions. For the first nominee position request, five (5) net permanent, full-time jobs must be created for Canadian citizens or permanent residents located in Ontario. For each subsequent nominee position request, one permanent, full-time job must be created for a Canadian citizen or permanent resident located in Ontario. The maximum is 25. (â€œNetâ€ refers to jobs created by the investment in Ontario minus jobs lost in the province, if any.)
The following chart shows the number of nominee positions an investor may request:
|Number of net nominee positions investors can request||Number of net jobs
created for Canadian citizens or permanent residents in Ontario
|Number of net jobs created as aÂ result of the investment|
Eligibility for Individual Investors
Although the investment component of Opportunities Ontario is geared towards corporate investments in the province, individual investors seeking nomination can also qualify for the program if they:
- Actively are involved, on an ongoing basis, in the management of the business.
- Control, or will control, at least 33.334% of the equity in the business, or make a minimum C$1 million investment in the business
- Not have the option of redeeming the investment after a specified period.
- Invest the capital in the business not for the primary purpose of deriving interest, dividends or capital gains.
There is a non-refundable fee of C$3,500. The fee can be paid by the prospective nominee or by the investor.