Skip to main content

Immigration Corner | Do I qualify as an investor?



Immigration Corner | Do I qualify as an investor?:

Dear Ms Powell,
I am a 50-year-old businessman and I would like my family to move to Canada. I was wondering how I could qualify as an entrepreneur or investor. I have a brother living in Ontario and I would like to move there. He said he may even be able to help me to get a job offer if I don't qualify as an investor. Please tell me how I could get to live in Ontario with my wife and two children as citizens.
- AM
Dear AM,
If you are interested in implementing a new business idea or buying an existing business in Ontario, you could be eligible under The Ontario Immigrant Nominee Programme's (OINP) entrepreneur stream. Under this programme, qualified individuals now have an opportunity to be nominated by the province of Ontario for permanent residence in Canada, once the business has been successfully established.
The application process can be quite challenging and lengthy. However, with the proper guidance and plan, you and your family could live permanently in Canada after you have proven that your business can be successful in Ontario. To find out if you qualify, I recommend that you contact an immigration lawyer to review your credentials and guide you through the application process.
The process of becoming a citizen of Canada via this programme is a multiple-step procedure. The first step involves ensuring that you are qualified. The next step would be to get a work permit to establish your business and prove its viability. Once you have proven yourself and your business acumen, then you could be nominated for permanent residence. After you have been granted permanent residence and are able to satisfy the residency and tax requirements, you and your family could be granted Canadian citizenship.

Prepare Business Plan
Before undertaking this process, you will need to do some research and have a business plan ready for evaluation. Some of the things to consider and provide documentary proof are:
- Information on your years of experience either managing or owning a business. You must be able to prove that you have at least three years of full-time business experience within the last five years. If you have a business partner, your partner must also prove this.
- Ensure that the type of business is one that qualifies under the programme. Is your business in any of the target sectors as outlined by the province?
- Provide information on whether you have experience in a high growth or export business.
- Where in Ontario you are planning to establish your business?
- Proof of your personal net worth is required. If your proposed business will be located within the Greater Toronto Area (GTA) you must have a minimum net worth of CDN$1,500,000 CDN. If it is outside of the GTA f your proposed business will be located outside of the GTA, you must have a minimum net worth of CDN$800,000.
- The amount that you are willing to invest and the source of your funding. For the GTA, your proposed business must make a minimum personal investment of CDN$1,000,000 and have a minimum equity ownership of 33.3 percent. If outside of the GTA the minimum personal investment of CDN $500,000 and have a minimum equity ownership of 33.3 percent. If your business falls within the ICT/Digital Communications sector will be required to make a minimum personal investment of CDN$500,000 and have a minimum equity ownership of 33.3 percent.
- The number and type of new jobs your business will generate for permanent residence and Canadian citizen must be detailed. The minimum requirement is at least two permanent, full-time jobs.
You are required to do an exploratory visit to the province to assess the viability of your business venture.
You must meet all eligibility criteria in order to apply to the entrepreneur stream by submitting an electronic expression of interest to the province. If you are applying with a business partner, your business partner must also meet the eligibility criteria. Your application must be submitted via the OINP e-filing portal. Your application will be admitted into a pool of applicants and if you qualify, you could be invited to apply. The application fee is CDN $3,500.
Find out if you are eligible to immigrate to Canada. 
Complete our free eligibility form: http://tinyurl.com/Dsplaw or call 613.695.8777 to book an appointment.
Deidre S. Powell is a lawyer, mediator and notary public who is a member of the Jamaican and Ontario, Canada Bars, with office located in Ottawa, Ontario. Her areas of practice are in immigration, commercial, real estate, family and administration of estates. She is on the roster of mediators for Ottawa, Toronto and the Dispute Resolution Foundation of Jamaica. Email: info@deidrepowell.com. Subject line: Immigration Twitter: deidrespowell Facebook: jamaicanlawyer. Tel: 613.695.8777





Labels:

Comments

Post a Comment

Popular posts from this blog

Immigration Corner | Do I need a police report?

Immigration Corner | Do I need a police report? : Dear Ms Powell, I want to apply to live in Canada and I was told that I will need to have police records from all the countries that I've visited. I attended school in the USA and only spent three summer vacations with my aunt in Canada and returned to the USA each time. I also went on a youth programme in the UK. I visited again a few times since. Do I need a police report from all these countries? How would I go about getting the reports? Do I need to have these reports before I apply? - S.E. Dear S.E., Immigration, Refugee and Citizenship Canada (IRCC) may require police records from individuals who are applying for permanent residence, study permit, work permit and some temporary resident visas if the individual is over 18 years old. IRCC usually requires police certificates or clearance certificates from any country or territory where you have spent six months or more since the age of 18. This is to ensure that y...
Post a Comment
Read more

Immigration Corner | Son graduated from college and wants to stay in Canada

Dear Miss Powell, My son studied in Canada and then received a graduate work permit. That permit is about to expire, and he is worried that his work permit may now be renewed because of the changes. I am wondering what his options are to remain in Canada now. Please advise us as we are hoping that he could eventually get to live permanently. Your kind response would be appreciated. J.T.    Dear J.T.  I have received several questions from international students wondering about their options to remain in Canada, since Immigration Refugee and Citizenship Canada (IRCC) has made several changes to the immigration policies. Your son and others should not panic as there are currently several options to remain in Canada and we remain hopeful that there will be new policy updates to assist graduates to become permanent residents. I will outline below the temporary and permanent options that are available. Remain as a worker   Your son may also apply to remain in Canad...
Post a Comment
Read more

Immigration Corner | Can my granddaughter sponsor me?

Dear Miss Powell, My granddaughter lives in Canada. Can she file for me? My daughter died recently and I don't have any other relatives here in Jamaica. I'm retired and she is 28, married, with one child. I think I could be helpful to her, plus it would be a joy to just be close to my granddaughter and her family. SW Dear SW, If your granddaughter is a permanent resident or a citizen of Canada, she can sponsor you to become a permanent resident of Canada under the family class category of parent and grandparent sponsorship. Immigration, Refugee and Citizenship Canada (IRCC) has limited the number of applications that it will accept on an annual basis to 10,000. The quota is currently full; however, the programme will be reopened on January 3, 2017. Therefore, now is the time to prepare your documents so that you can submit them promptly when they begin accepting applications. Your granddaughter must prove that she is financially able to sponsor you. This means th...
Post a Comment
Read more