Ontario invites 33 candidates to apply for Canada PR
Ontario has issued invitations to 33 candidates to apply for Canada PR. The invitations have been issued under the Entrepreneur stream through Ontario Immigration Nominee Program.
Financial requirements for Ontario Entrepreneur stream
The financial requirements for the entrepreneur stream are as follows:
If you are starting a business in the Greater Toronto Area, you need to invest $800,000. If the proposed business is outside the area, then the investment amount should be $400,000.
If the proposed business is in either ICT or digital communications, the investment of $400,000 can be made in any part of the province.
Investment and Ownership
You have to make investment of at least $600,000 in an Ontario business. If the business is in GTA, you have to own 33 percent of the amount.
If your business is outside GTA, you have to invest $200,000 and own 33 percent.
If your business is in either ICT or digital communication, you need to invest $200,000 in any part of the province. You need to own 33 percent.
Other requirements for Ontario Entrepreneur stream
Experience of 24 months in the past 60 months as a senior manager or owner
Create two full-time jobs for the citizens or permanent residents of Canada if you are in GTA. If you are outside GTA, or you are in digital communication or ICT, you have to create one full-time job for the Canadian citizens or permanent residents
Make an exploratory visit to Ontario in 12 months before sending the application
Language proficiency score should be CLB 4 in English or French
Stay in Ontario for 75 percent of the time you own the business
Looking to migrate to Canada? Talk to Y-Axis, the world’s no. 1 overseas immigration consultant.