Ontario Moving Forward With Pilot To Welcome 100 New Entrepreneurs

Abstract: Ontario has launched a new project for Canadian immigration, which plans to invite hundred foreign entrepreneurs to make an investment outside the Greater Toronto Area. Highlights:

• The Canada Immigration Project plans to invite a hundred new foreign investors.
• The investment will aid in generating jobs and revenue.
• The applicants to this project are eligible for permanent residence in Canada.

On April 19, 2022, Ontario announced the launch of the Canada Immigration Project. The project aims to invite international business people to invest in the area outside Greater Toronto. Ontario aims to recruit hundred international investors who can invest 200,000 CAD in helping recover the losses incurred during the pandemic. Check your eligibility to Canada through Canada Immigration Points Calculator. Toronto Business Development Center The Loyalist Province of Canada, Ontario, announced on Tuesday that it had linked OINP or Ontario Immigrant Nominee Program with TBDC or Toronto Business Development Center to launch the pilot project of the Entrepreneur Program.

• The TBDC was appointed through a process of public bidding.
• The project aims to boost the regions and business sectors that were affected during the pandemic.

Entrepreneur Pilot Program The Entrepreneur Pilot Program was announced in December 2021. The pilot program is to function for two years. The Entrepreneur Stream, which exists under the OINP, will help the regions in the province impacted during the pandemic by inviting 200,000 million CAD in investment. The government of Ontario is hopeful that the pilot program will generate jobs in various sectors like life sciences, information technology, and tourism. The investors will be eligible for Canada PR after operating their business in Ontario for eighteen to twenty months. Wish to operate business in Canada? Y-Axis is here to assist you. Ontario Entrepreneur Stream The stream of Ontario Entrepreneurs is aimed at foreign national immigrants who want to invest in a business or buy a business that already exists in Ontario. The existing financial requirements are given below. 1) Net Worth

• The investors should have a net worth of at least 800,000 CAD if the proposed business is planned to be set up in the GTA or Greater Toronto Area. If the business is planned not in the GTA, the net worth should be at least 400,000 CAD.
• The investors, who plan to operate their business in either digital communications or ICT, should have a net worth of at least 400,000 CAD.

2) Ownership and Investment

• The international businesspeople who plan to invest a minimum of 600,000 CAD in a business based in Ontario should own a minimum of 33% of the business if it is in the GTA.
• If the business is based outside the GTA, the investment should be a minimum of 200,000 CAD, and the investors should own 33% of the business.
• If the business is planned for either digital communications or ICT, the investment should be a minimum of 200,000 CAD, and the investor should own a minimum of 33%.

Do plan to migrate to Canada? Contact Y-Axis, the leading Overseas Immigration Consultant. If you found this news article helpful, you may want to read Is immigrating to Canada still worth it in 2022?