The Ontario Immigrant Nominee Program Entrepreneur Stream is for entrepreneurs from outside of Canada interested in starting a new business or buying an existing business in Ontario. One entrepreneur and up to one foreign business partner can be nominated for permanent residency after the business is set up and it meets the required criteria. To qualify, you must set up a viable business that is likely to provide material economic benefit to the Ontario economy. Some of the mandatory requirements are
- You must have at least 20 months of full time business experience in the last 60 months as a business owner or senior manager.
- You must have a minimum net worth of $800,000 CDN if your business is going to be located in the Greater Toronto Area(GTA) or $400,000 outside the GTA.
- Minimum investment for businesses in the GTA is $600,000 and ouside the GTA is $200,000.
- You must be actively invoved in the operation of the business.
- The primary purpose of the business must be to make a profit through active income from the sale of goods and services. It must not be to derive interest, dividends or capital gains.
- For businesses in the GTA, you must create at least 2 permanent full time jobs . For business outside the GTA you must create at least 1 permanent full time job. The jobs must be created within the first 20 months of establishing the business and must be filled continuously for at least 10 months.
There are other requirements for eligible businesses and conditions if you are buying an existing business. Use the links below for more information.
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