Within the next two years, Ontario is looking to recruit 100 immigrant entrepreneurs. These are meant to start or grow businesses outside the Greater Toronto area and earn the province’s economy around $20 million.
Anyone interested in this opportunity can apply through the Ontario Immigrant Nominee Program’s Entrepreneur stream. If selected, you will need to invest at least $200,000 into your business. After your business has been running in Ontario for 18 to 20 months, you may get nominated by the province. You can then use this nomination to apply for permanent residence in Canada.
What really makes this program unique though is the fact that it supports applying entrepreneurs by helping them connect with business opportunities that best suit them.
This recruitment process aims to create new opportunities for Ontario residents. This is part of an initiative to help regions of Ontario that were hit hard by the Covid-19 pandemic recover. While the project will cost the Ontario government approximately $6million, Monte McNaughton, the province’s labor minister, assures reporters that the investment from immigrating entrepreneurs will more than make up for it.
In his press release, the minister further insisted that the opportunities brought by immigrants will be evenly distributed throughout Ontario and not be concentrated just around the major cities. Ultimately, he insists that the government aims to ensure that all Ontario residents get access to rewarding and well-paying jobs regardless of where they live.
So while the province’s entrepreneur stream has only nominated two immigrants since its launch in 2015, this project aims to change that.
While it may not be known to many, the Ontario government has been doubling up on its efforts to attract immigrants for a while now. For instance, within the last year, the government has launched a more streamlined application system for provincial nominations.
Moreover, it has made it easier for workers who are internationally trained to work in specific regulated professions. Beyond that, it has also been helping rural communities and small communities retain skilled workers. And this isn’t even the end of it – the province’s labor minister has called for the federal government to double the province’s 2021 allocated number of nominated immigrants; 8,600.
Considering that Ontario has welcomed 313,838 immigrants from January to October 2021 alone, we can only speculate how high these numbers will be in 2022. So if you’re an entrepreneur looking to immigrate to Ontario, there is no better time to take the jump!