The idea behind Ontario PNP Corporate Stream is to establish & support international firms interested in operating/expanding in Ontario. Once the business is fully set up in Ontario, only 5 key employees who are crucial to the continued success of the business can be nominated for Canada Permanent Residence under this stream.
Ontario PNP Corporate Stream Eligibility Requirements…
The businesses interested in applying under Ontario Corporate Stream need to meet a set of requirements in order to qualify. Firstly, you must have a viable business activity that would bring considerable economic benefit to the Canadian province. Besides that, there are some other requirements too.
Listed below are the major requirements for Ontario PNP Corporate Stream –
- Your company/corporation needs to be at least 36 months old with a proven track record when submitting the application
- Corporate structures eligible for this stream include sole proprietorship, partnerships and public corporations
- Minimum $5 million investment is required whether to expand/purchase an existing business in Ontario
- The investment made must be from legal sources only
- The investment activity should hold considerable economic advantage for the province
- Your business needs to create 5 new full time, permanent jobs for Canadian citizens per key employee applicants of your corporation. So, if you are to propose 5 key employees for your corporation, you need to create extra 5×5 = 25 jobs for Canadian citizens.
NOTE: A permanent, full-time job refers to a position consisting of minimum 1,560 hours of paid employment in a period of 12-months
- The salary for positions needs to be either at or more than the existing wage level for that position
- Once your key staff members are nominated, they need to demonstrate English language proficiency equivalent to CLB 4 or more.
- You need to submit your detailed business plan
- Business Requirements – Your business –
- Must intend to acquire profit via sale of goods/services
- Must comply with the Ontario province labor laws including health & safety and employment standards
- Must comply with Canadian legal requirements besides all regulatory industry & licensing requirements
- Must be considered a permanent business within Ontario as project based/seasonal businesses are ineligible
- Should have the primary income sources from active (or earned) income only
It’s a must for your corporation and your staff to comply with the eligibility requirements fully in order to qualify under Ontario PNP Corporate stream.
Also, your corporation may request a maximum of 5 employees who will form your key staff and will be establishing your business. These key employees may file nomination for PR in Ontario. It must also be noted here that before being nominated for Canada PR, your key employees can avail Temporary Work Permits from CIC. OINP authorities will collaborate with your corporation to create a Performance Agreement outlining the time-frames and performance commitments for your corporation.
If you need any further guidance on Ontario PNP Corporate stream, our visa experts are ready to help. Contact our experts now!