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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.
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.
Copyright © 2016 Berry Appleman & Leiden LLP. All rights reserved. Reprinting or digital redistribution to the public is permitted only with the express written permission of Berry Appleman & Leiden LLP. For inquiries please contact copyright@bal.com.
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