Canada's immigration policies are becoming increasingly favorable, attracting many new Chinese immigrants and investors. However, some individual "high-threshold" requirements have kept many applicants at bay, such as the financial threshold for the Ontario Entrepreneur Immigration program. On July 8, the Ontario government announced that the application requirements for the Entrepreneur stream and In-Demand Skills stream have been officially relaxed and are effective immediately! What are the changes in the new policies?
Lowered Financial Threshold for Entrepreneur Immigration
First, the Entrepreneur Immigration program, which many Chinese are concerned about. The new immigration application guidelines state:
For applicants starting a business within the Greater Toronto Area, the minimum investment amount has been reduced from CAD 100,000 to CAD 600,000, with a minimum personal net worth of CAD 800,000, and at least 2 full-time job positions must be created;
For applicants starting a business outside the Greater Toronto Area, the minimum investment amount has been reduced from CAD 500,000 to CAD 200,000, with a minimum personal net worth of CAD 400,000, and at least 1 full-time job position must be created;
If the business is primarily in information technology, regardless of the location of the business, the minimum investment amount has been reduced from CAD 500,000 to CAD 200,000, with a minimum personal net worth of CAD 400,000.
Applicant requirements: At least 2 years of relevant business experience in the past 5 years.
Additionally, starting from July 8, 2019, registrants who have not been invited will need to register a new expression of interest to qualify for future invitations.
Lowered Experience Threshold for Skilled Workers
Furthermore, the amendments to the Immigration Act have also lowered the work experience requirements for the Skilled Worker category and added three new National Occupational Classification (NOC) codes.
Currently Eligible Occupations for Skilled Worker Immigration Include:
9462 - Industrial Butchers and Meat Cutters, Poultry Preparers, and Related Workers
3413 - Nurse Aides, Orderlies, and Patient Service Associates
4412 - Home Support Workers and Related Occupations, Excluding Housekeepers
7441 - Residential and Commercial Installers and Service Technicians
7511 - Transport Truck Drivers
7521 - Heavy Equipment Operators (Except Crane Operators)
7611 - Construction Trades Helpers and Labourers
8431 - General Farm Workers
8432 - Nursery and Greenhouse Workers
8611 - Harvesting Labourers
Language Requirement: CLB 4
Education Requirement: High school diploma or equivalent certification (ECA) is required
Work Experience Requirement: At least 9 months of Ontario-related work experience equivalent to the applied position in the past three years
Employer Requirements:
Revenue Requirements
Your employer’s business must also meet the following requirements for its most recently completed fiscal year (the year used for tax or accounting purposes):
a minimum of CAD 1,000,000 in total gross annual revenue if you will work or report to work at a location in the Greater Toronto Area (City of Toronto, Durham, Halton, York, and Peel regions)
For the Greater Toronto Area, CAD 1,000,000 in revenue, with 5 local full-time employees
Or
a minimum of CAD 500,000 in total gross annual revenue if you will work or report to work at a location outside the Greater Toronto Area
For locations outside the Greater Toronto Area, CAD 500,000 in revenue, with 3 local full-time employees
It is important to note that the Ontario government has eliminated the Corporate stream for business immigration, and all new applications submitted since last Friday (the 5th) will be processed under the new regulations.
However, even with the lowered thresholds, applicants should not let their guard down, as there may still be exceptional circumstances.