The detailed information about the new immigration project in Canada has been provided to hire 100 entrepreneurs internationally to buy or start businesses by investing $200,000 each outside the Greater Toronto Area.
On Tuesday, the province announced that the Toronto Business Development Centre (TBDC) was selected to work with the Ontario Immigrant Nominee Program (OINP) to advance and establish the Entrepreneur Pilot.
The TBDC followed a public bidding process to get selected.
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A statement from the OINP said the investments and jobs that these businesses create would help and promote the regions that are soon to be selected and who need all the required help to recover from the pandemic hit.
In December 2021, the official two years pilot was announced.
In the category of the existing entrepreneur stream of the OINP, Ontario is set to support the pandemic hit regions by investing $20 million.
The government of Ontario looks forward to witnessing the job vacancies in sectors that include life sciences, technology, and tourism that the pilot creates.
The registrants will be selected for the permanent residence as soon as their business reaches the working period of 18 – 20 months in Ontario.
The latest entrepreneur project is one among many leads that Ontario is taking to draw the attention of immigrants.
The province announced that accountants, foreign-trained lawyers, engineers, plumbers, electricians, and architects wouldn’t require work experience in Canada to start practicing their professions in Ontario's newly proposed provincial law.
The new provincial law states that;
The work experience requirements in Canada for licensing and official registration be eradicated unless the exception is granted depending on a proven public health and safety risk.
The repetition for the official language proficiency be decreased, so the individuals holding foreign documents in such positions need not complete several tests for the objective of professional licensing and immigration and;
Increase the speed of the licensing procedure, which will now take 18 months or more to support internationally-trained immigrants to begin working in occupations that suit their skill set.