January 5th, 2016
While every nation rightly celebrates its homegrown entrepreneurs, countries also benefit from foreign investors seeking to become citizens. However, looking to buy or invest in a business outside your home nation can be a confusing and frustrating exercise that may even lead to costly errors. The Ontario Immigrant Nominee Program: Entrepreneur Stream helps individuals from foreign lands make such choices with confidence.
Assistance for overseas corporation owners looking to expand into this province is also available through the Ontario Immigrant Nominee Program: Corporate Stream. The goal of both programs is to attract commercial activity that will further enhance the province’s economic and labour market requirements. The Ontario Immigrant Nominee Programs have a base stream allocation of 2,500 nominations per year.
Each individual must invest a minimum of $500,000 and have a minimum net worth of $800,000 (both figures Canadian dollars). From the time that they start the program, participants receive a temporary work visa and have two years to fulfill additional requirements, including a minimum language proficiency in English or French.
Each enterprise must also create at least two permanent, full-time job positions for Canadian citizens or individuals with permanent residence. The investor and one other business partner may be eligible for nomination to permanent citizenship through the province when the business has met the criteria of a performance agreement.
Any international corporation hoping to expand into the province or purchase an existing enterprise is required to invest a minimum of $5,000,000 Canadian dollars. The business must create or add at least five new, full-time positions for Canadian citizens or those with permanent residence.
Once the new business has established or the ownership change has taken place, certain prominent staff nominees are also eligible for permanent citizenship in Canada. These persons can include current employees of the corporation possessing talents judged necessary for the Ontario business to succeed. They will have two years to demonstrate a minimum language proficiency in English or French.
A Great Place to Run a Business and Raise a Family
Generating 37% of the nation’s gross domestic product, Ontario is located in the core of the North American Free Trade Area, which includes more than 460 million potential customers. These are just two reasons that the province garners attention from overseas financiers looking for a new place to live and do business. A 2015 report from a division of the Financial Times stated that Ontario continues to attract more foreign capital investment than the rest of the country as well as every state in America. In addition to the possibilities for business, resettled foreign investors report that this culturally diverse province is also a wonderful place to live.
Government funding for business incentives like the Ontario Immigrant Nominee Program help to make success stories like these possible and are also an excellent way for entrepreneurs to obtain Canadian citizenship. Canada’s oldest and largest government funding consulting service, INAC Services has helped more than 350 organizations successfully attain economic assistance. Let their expertise help you secure the financing that will make your business dreams a reality.