Ontario to launch corporate stream

IMPACT – MEDIUM

What is the change? Ontario will launch a corporate stream for international companies seeking to expand their operations or investments into that province, as well as an entrepreneur stream for individuals.

What does the change mean? International companies must invest at least CA$5 million (about US$3.8 million) and create five full-time positions for Canadian citizens or residents for every foreign employee sponsored for permanent residency. Under the entrepreneur stream, individuals must invest at least CA$500,000 and have a net worth of CA$800,000 and fulfill language requirements.

• Implementation time frame: The implementation date has not been announced.
• Visas/permits affected: Permanent residency.
• Who is affected: International companies seeking to expand in Ontario;foreign nationals seeking to invest or start a business in Ontario.
• Business impact: The two streams offer paths to Canadian permanent residency for key staff members of companies expanding into Ontario or individuals launching start-up companies there.
• Next steps: The programs have not been implemented yet. BAL will follow up as details on criteria and application procedures become available.

BAL Analysis: The programs will provide new alternatives for foreign nationals with key roles in international companies and individual entrepreneurs to apply for permanent residency outside of the other available migration streams.

This alert has been provided by the BAL Global Practice group and our network provider located in Canada. For additional information, please contact your BAL attorney.

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