Invest in Ontario to run a business there to create jobs and contribute to the economy there

by XIPHIAS IMMIGRATION migration executive

Canada to overcome its COVID-19 economic crisis has come up critical policies. Of these immigration policies have also been eased to invite qualified personnel who could contribute and for the economy it generates. They also intend to invite skilled professionals and entrepreneurs with futuristic mindset to gather talent in the country. One of the modes to relocate to Canada is through investments. Canada’s Business Visa or Investment immigration visa has got a lot of prominence in the recent past. Most provinces that participate in the provincial nominee program offer Entrepreneur visa as one of the pathways through their Provincial Nominee Program.

Ontario Entrepreneur program is one of the most sought after immigration programs for entrepreneurs who intend to relocate to Canada. This can be applied by an individual or along with one partner. Through this stream, the entrepreneur can obtain visa for the country if he/she intends to start a business in Canada or intends to invest in an already running business in Canada. This is part of the Ontario Immigration nomination program. To be qualified for this program, the entrepreneur will need to create his profile in the Express Entry pool and provide their Expression of Interest. The applicant will need to take up the mandatory language test and also should provide the required documents proving their business qualification. They will have to make a mandatory visit to the place where they intend to invest. If the investor intends to invest in Greater Toronto area, then they need to prove their personal net-worth of CAD 800,000 and if they intend to invest in any other part of Toronto, then they need to prove their net-worth to be CAD $400,000. They will have to make a minimum investment of CAD $600,000 if investing in Greater Toronto Area. IF investing in any other place, then they need to make a minimum of CAD $200,000 investment.

The investor will have to prove that they would be living in Ontario and participating in the day to day running of the business. Their prime purpose in investing in the province should be to make profits, create jobs and derive interest and capital gains. At least 2 permanent jobs should be generated for the Canada citizens or residents there. This Canada investor visa is a great opportunity to explore the markets of Canada and USA. If the investor invests in business anywhere outside of Greater Toronto area, then they will need to create a minimum of 1 job opportunity for the citizens or residents of Canada. If they are investing in Information technology and digital technology, irrespective of the place of location, they will need to generate a minimum of 1 job opportunity.

Within 12 months of registering their Expression of Interest, they need to make a mandatory visit to Ontario to do their research. The business in which they intend to invest, should have been running by the sellers for at least the last 60 months. The sellers should be giving away the ownership of the business in complete to the investor. Similar on these lines is the Manitoba investors Immigration visa program under Manitoba Provincial immigration program.

The investor should ensure that they maintain the permanent employees of the firm which they are purchasing. The investor will need to provide a proper business plan. They need define their business purpose and ensure that their future pathway is in the direction. The business they invest in should comply with the legal requirements defined by the federal government. They need to maintain the standards. The business should not be seasonal in nature. That is to say that, the profits or running business should be constant and not seasonal or periodical. Entrepreneurs who intend to start a new business in Canada should use the Startup Visa Canada to fulfill their dreams of starting a company.

Investments in another country for the sake of running business are a big decision. As the dynamics change, so do the circumstances too. It is important that the investment programs are properly studied and deliberated on. It is required that the investor has made deliberation before making the move. It would require that the investor works with the Top Immigration consultants in India like XIPHIAS to help them with the business investment program in Canada.