ontario regulation 439/24

made under the

Ontario Immigration Act, 2015

Made: September 13, 2024
Filed: November 1, 2024
Published on e-Laws: November 1, 2024
Published in The Ontario Gazette: November 16, 2024

Amending O. Reg. 422/17

(GENERAL)

1. (1) Paragraph 4 of subsection 13 (2) of Ontario Regulation 422/17 is amended by striking out the portion before subparagraph i and substituting the following:

4. The applicant commits to making reasonable investments towards expenditures that are essential to the establishment and operation of the business, excluding cash, cash equivalents, working capital, or wages paid to the applicant or family member, equalling at least the following:

. . . . .

(2) Paragraph 6 of subsection 13 (2) of the Regulation is amended by striking out the portion before subparagraph i and substituting the following:

6. The applicant commits to creating, within the first 20 months of establishing or acquiring the business,

. . . . .

(3) Subparagraphs 6 i, ii and iii of subsection 13 (2) of the Regulation are amended by adding “as shown by the Government of Canada Job Bank” after “for the position” wherever it occurs.

(4) Paragraphs 6.1 and 7 of subsection 13 (2) of the Regulation are revoked and the following substituted:

6.1 The applicant commits to ensuring that only Canadian citizens or permanent residents of Canada are hired for the jobs mentioned in paragraph 6.

7. The applicant commits to being actively involved, on an ongoing basis, in the management of the business.

7.1 The applicant commits to lawfully residing in Ontario for a least 75 per cent of the period during which the applicant establishes the business.

(5) Paragraphs 8, 9 and 12 to 16 of subsection 13 (2) of the Regulation are revoked and the following substituted:

8. The applicant commits to controlling at least one-third of the equity in the business.

9. The applicant commits to not investing the capital in the business for the primary purpose of deriving interest, dividends or capital gains.

. . . . .

12. The applicant commits to ensuring that the primary income sources for the business will be from active (earned) income, not passive (unearned) income.

13. The applicant commits to ensuring that the business will comply with any applicable federal, provincial or municipal legal, regulatory or licensing requirements that govern its operation.

14. The business commits to operating as a permanent business in Ontario and not on a seasonal or project-dependent basis.

15. The applicant commits to ensuring that the business will at all times have a place of business in Ontario.

16. The applicant commits to ensuring that, if the business receives third-party financing, such financing will be provided by a bank named in Schedule I or Schedule II to the Bank Act (Canada) or an institutional investor.

(6) Subparagraphs 17 iii, iv and vi of subsection 13 (2) of the Regulation are revoked and the following substituted:

iii. the applicant commits to ensuring that the purchase will completely transfer ownership to the applicant, any business partner, the applicant’s third party investors or any combination of them,

iv. the applicant commits to ensuring that at least 10 per cent of the applicant’s investment in the business described in paragraph 4 will be allocated towards improving or expanding the business in Ontario,

. . . . .

vi. upon transfer of ownership, the applicant commits to preserving all existing permanent full-time jobs at wage levels and with employment terms that are at least as favourable to the employee as those immediately before the transfer of ownership.

(7) Paragraph 18 of subsection 13 (2) of the Regulation is amended by striking out the portion before subparagraph i and substituting the following:

18. If the applicant will be operating a business located in the Greater Toronto Area, the applicant commits to not acquire, own or operate any of the following ineligible businesses:

. . . . .

(8) Paragraph 19 of subsection 13 (2) of the Regulation is amended by striking out the portion before subparagraph i and substituting the following

19. If the applicant will be operating a business located outside the Greater Toronto Area, the applicant commits to not acquire, own or operate any of the following ineligible businesses:

. . . . .

(9) Paragraph 2 of subsection 13 (3) of the Regulation is revoked.

(10) Paragraph 3 of subsection 13 (3) of the Regulation is revoked and the following substituted:

3. The applicant must have entered into a performance agreement with the Government of Ontario and have committed to satisfy any commitments set out in the performance agreement within 20 months after the date the applicant arrived in Ontario.

(11) Paragraphs 4, 4.1, 6 and 7 of subsection 13 (3) of the Regulation are revoked.

(12) Section 13 of the Regulation is revoked.

Commencement

2. (1) Except as otherwise provided in this section, this Regulation comes into force on the day it is filed.

(2) Subsections 1 (1) to (11) come into force on the later of November 4, 2024 and the day this Regulation is filed.

(3) Subsection 1 (12) comes into force on July 1, 2026.

Made by:
Pris par :

Le ministre du Travail, de l'Immigration, de la Formation et du Développement des compétences,

David Piccini

Minister of Labour, Immigration, Training and Skills Development

Date made: September 13, 2024
Pris le : 13 septembre 2024