Opportunities Ontario: Provincial Nominee Program Investment Component

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1 Opportunities Ontario: Provincial Nominee Program Investment Component WindsorEssex Economic Development Corporation May 5, 2014

2 Opportunities Ontario: Provincial Nominee Program Opportunities Ontario: Provincial Nominee Program (PNP): is Ontario s immigration-selection program selects, or nominates, foreign nationals with an approved job offer for permanent residence to the Federal government helps Ontario employers hire the skilled workers they need, but are having difficulty finding, by assisting with the immigration of foreign workers and international students supports investment to the province by assisting with the immigration of key employees required by investors retains the best and brightest international students by qualifying PhD and Master s graduates of Ontario universities without requiring a job offer Ontario s PNP target is set by the federal government. In 2014, the target was increased from 1,300 to 2,500 nominations. 2

3 What is the Investment Component? Job creation is an important part of building Ontario s economic future. That s why Opportunities Ontario helps investors who invest money in the province and create jobs for Ontarians. The program allows investors to permanently relocate key staff to ensure the long term success of the investment. Investments can be in any sector of the economy. There are no restrictions and no sector receives preferential treatment. 3

4 Eligible Investments To qualify, investments must: Amount to at least $3 million; Create at least 5 net jobs for Ontarians; Be endorsed as significant by an Ontario ministry. Investment projects can request up to 25 positions per application. Positions need to be: skilled, permanent, and necessary for the long-term success of the investment. Positions can be filled by foreign workers or investors seeking nomination. New investments and recent expansions to Ontario operations are eligible. 4

5 Eligibility Criteria: Foreign Workers Investors can recruit foreign workers or investors seeking nomination to fill their approved nominee positions. Foreign workers: Must intend to live and work in Ontario for the majority of each year. Require 2 years of full-time, verifiable and paid work experience in the occupation (NOC code) they will be working in. Must be salaried, full-time employees who receive the prevailing wage for their occupation in their region. Can be in Canada on a Temporary Work Permit or be located overseas. There is a non-refundable processing fee of $3,500 for each foreign worker nominee application. This fee can be paid by the prospective foreign worker nominee or by the investment project. 5

6 Eligibility Criteria: Investors Seeking Nomination The investment component of Opportunities Ontario is geared to companies making an investment; however, individual investors seeking nomination can also qualify. Individual investors seeking personal nomination must meet additional eligibility criteria required under federal immigration law, as well as all foreign worker requirements. To meet federal law as provincial nominees, individual investors must also: Invest primarily for the purpose of the business opportunity represented by the investment project, not primarily to purchase permanent residence. Invest at least $1 million in the investment project or control at least 1/3 of equity in the investment project, whichever is the lesser of the two. Be actively involved, on an ongoing basis, in the management of the business. Not have redemption options for their investment, with their investment carrying a risk tied directly to the success of the investment project. 6

7 What the Investment Component is NOT The Investment Component is NOT a program for passive investors e.g., an investor provides a lump-sum investment in exchange for Permanent Residence (PR) without a long-term commitment to the management of the company The Investment Component is NOT a program for raising capital to facilitate immigration e.g., an company needs to raise capital and provides investors with a promise of PR in exchange for their investment. The Investment Component is NOT a program for entrepreneurs e.g., an entrepreneur wants to set up a store and hire family members as employees. 7

8 Investment Component Stages 1. Referral Prospective investor contacts Opportunities Ontario for a referral 2. Investment Assessment Investing company applies to Ontario ministry for endorsement 3. Nominee Application Prospective nominees apply to Opportunities Ontario 4. Post-Endorsement Monitoring Endorsing Ministry follows up with investors 8

9 Contact Information Call us at: (toll-free in North America) us at: 9

10 Important contacts Investment component inquiries: Promotion and Marketing : Maria Ma Senior PNP Officer, PNP Unit Tel: Maria.ma@ontario.ca Alexander S. Bosika Senior Business Consultant, PDI Unit Tel: Alexander.bosika@ontario.ca Suzanne Skinner Team Lead, PNP Unit Tel: Suzanne.Skinner@ontario.ca Stakeholders: Yulia Rzhenichev Program Consultant, PDI Unit Tel: Yulia.rzhenichev@ontario.ca 10