Your gateway to Canada

Immigration Newsweek

By Atty. Henry Moyal

The vast majority of applicants and inquiries to Canada pertain to economic immigration that include professional workers and highly educated applicants. Such trends make sense given that the labour force worldwide is made of skilled workers who contribute greatly to the Canadian economy. However, there is a subset of immigrant applicants that many are not too knowledgeable about  – business immigration.

In this light, the province of Ontario has announced an entrepreneur program to attract qualified persons to start businesses in Ontario. Effective July 9, 2019 Ontario has reduced the threshold of investment needed from $1 million to $600,000 in the Greater Toronto Area (GTA). If the business is destined to an area outside GTA, the amount is further lowered from $500,000 to only $200,000 now. These important changes are to ensure Ontario is attracting the best businesses and entrepreneurs.

The following are the requirements to immigrate as an entrepreneur:

• To qualify under the Entrepreneur Stream, you must have a viable business that is likely to provide economic benefit to the economy of Ontario as a whole or to the local Ontario economy where the business will be located.

• You must have at least 24 months of full-time business experience in the last 60 months.

• Within the Greater Toronto Area, you must have a minimum net worth of 800,000 CDN.

• Outside of the Greater Toronto Area you must have a minimum net worth of $400,000 CDN.

• Within the Greater Toronto Area, you must make a minimum personal investment of $600,000 CDN and control at least one-third of the equity in the business

• Outside of the Greater Toronto Area, you must make a minimum personal investment of $200,000 CDN and control at least one-third of the equity in the business

7) You must be actively involved, on an ongoing basis, in the management of the business.

8) The primary purpose of investing capital in the business must be to make a profit.

9) If the business will be located inside the Greater Toronto Area, you must create at least two permanent full-time jobs for Canadian citizens or permanent residents.

10 ) If the business will be located outside the Greater Toronto Area you must create at least one permanent full-time job for a Canadian citizen or permanent resident.

11) Your business must be permanent. Project-based and seasonal businesses are not eligible.

12) You must maintain a place of business in Ontario at all times.

13) Ineligible types of businesses. The following businesses are not eligible:

• automated car wash business
• holding companies
• laundromats
• pawnbrokers
• pay day loan and related businesses
• scrap metal recycling
• tire recycling
• a business involved in producing, distributing or selling pornography or sexually explicit products or services, or providing sexually oriented services
• businesses which have been previously owned/operated by current or former Ontario business nominee

14) If the proposed business will be located in the Greater Toronto Area, the following types are also ineligible.

• existing franchises in Ontario (new foreign franchises expanding into Ontario are permitted)
• gas stations
• bed and breakfasts

Attorney Henry Moyal is a certified and licensed immigration lawyer in Toronto, Ontario.
The above article is general advice only and is not intended to act as a legal document.
Send questions to Attorney Moyal by email canada@moyal.com or call 416 733 3193