Ontario will Accept 100 Foreign Entrepreneurs for Permanent Residence
On December 14, 2021 the Ontario Minister of Labour, Monte McNaughton, announced a ground breaking new immigration stream for Ontario’s economic class.
Over the next two years, Ontario will accept 100 immigrants after they invest a minimum of $200,000 in the Ontario economy. Entrepreneurs can be nominated for Ontario’s economic immigration program if they create a new business or purchase an existing one.
The aim of the program is to create new businesses outside of the GTA and to help the economy recover from the pandemic. McNaughton stated that immigrants “are the key drivers of Ontario’s economic growth”.
Ontario also hopes to double the number of immigrants in the Ontario Immigrant Nominee Program from 9,000 to 18,000, so that they can bring in more skilled workers.
For more information about this program, contact AKM Law.
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