Over the next two years, Ontario is looking for 100 immigrant entrepreneurs to start or grow businesses in areas outside of the Greater Toronto Area.
Interested business owners and developers can apply under the Ontario Immigrant Nominee Program’s existing Entrepreneur Stream (OINP). Each selected entrepreneur will be expected to invest a minimum of $200,000 in their company.
Once an applicant’s business has been operating in Ontario for 18 to 20 months, they may be eligible for a provincial nomination. They can utilize the nomination to apply for Canadian immigration through the federal government.
According to a government press release, the recruitment endeavour aims to create more local jobs and assist regions that have been heavily hit by pandemic job losses. It would cost the provincial government an estimated $6 million, which will be returned by immigrants who come to Ontario to create or acquire a business, according to Ontario’s labour minister, Monte McNaughton. These newcomer entrepreneurs are expected to bring in $20 million in company investment and create jobs in the province.
“We want individuals across Ontario—no matter where they live—to find rewarding, well-paying professions in their communities as we continue to rebuild,” McNaughton said in the announcement. “Our government is working for workers and expanding the employment and possibilities that entrepreneurs bring to every region of our province, not just the main cities,” said the premier.
Need more insights? Stay tuned with Canada Immigrations.
