x
(587) 705-0764
Ackah Business Immigration Law – Personal and Corporate Immigration
Contact us

Contact Information

1 (403) 452-9515

1 (800) 932-1190

Book a Free Consult

More Options...

Ontario Removes Director Residency Requirement

Blog posted on by Evelyn Ackah in Business Immigration to Canada, Entrepreneurs and Toronto Immigration

Ontario Removes Director Residency Requirement

The Ontario Business Corporations Act (OBCA) has eliminated the current Canadian residency requirements for directors, effective July 1, 2021. This affects private and publicly held Ontario corporations and immigrant entrepreneurs who want to incorporate in Toronto and the Province of Ontario, and make it easier for foreigners to open a business in Canada.

Currently, Ontario businesses are required to have

  • at least 25% of their board of directors be Canadian residents and
      • at least 50% of the board of directors be Canadian residents

      The elimination of the Ontario director residency requirement will make it faster, easier and less expensive for foreign entrepreneurs and investors to open a business in Ontario. For example, the 2021 Immigration Trends Report by Envoy Global shows that 57% of U.S. employers are interested in expanding into Canada. This change will make it easier for American businesses to expand into Canada, and create jobs for Canadians.

      Alberta is considering a similar change to the director residency requirement, but it has not yet passed.

      Canada Wants Immigrant Entrepreneurs

      Canada's Minister of Immigration, Refugees and Citizenship Marco Mendicino recently announced that Canada wants immigrant entrepreneurs:

      "Coming out of the pandemic, the clear message we are sending with the startup visa program is that Canada is open for business. Undoubtedly, 🇨🇦 will bolster its economic growth and employment by bringing in international students, at least some of whom will become tech founders, as well as business owners."

      REQUIREMENTS FOR CANADA ENTREPRENEUR START-UP VISA

      Are You A Foreign Entrepreneur or Investor Who Wants to Move To Toronto?

      There are many opportunities for founders to move to Canada. An experienced Toronto immigration lawyer has the knowledge and expertise to assess your qualifications and match them to opportunities, to understand complex Canadian immigration rules and regulations, to solve problems and to remove obstacles for someone who wants to immigrate to Canada.

      We help you smooth the way to new opportunities in Canada.

      At Ackah Business Immigration Law, our goal is to make Crossing Borders Seamlessly a reality and to smooth your way to new opportunities in Canada. Ackah Law is headquartered in Calgary with offices in Vancouver and Toronto. Contact Ackah Law today at (403) 452‑9515 or email us directly at contact@ackahlaw.com.


      Evelyn L. Ackah, BA, LL.B.

      Founder/Managing Lawyer

      Ms. Ackah is passionate about immigration law because it focuses on people and relationships, which are at the core of her personal values. Starting her legal career as a corporate/commercial ...

      More About Evelyn L. Ackah, BA, LL.B.

      Will Canada Ban Canadian Work Experience Requirements?

      Ontario is on the verge of implementing a novel policy: banning employers from requiring Canadian work experience. This move aims to open doors for the country's vast immigrant population ...

      Read More

      3 Questions American Entrepreneurs Should Ask Before Immigrating to Canada With Calgary Immigration Lawyer Evelyn Ackah

      On the 3 Questions Webcast with Wayne Baxter, Senior Executive Manager at Wealth Management with One Capital Management, Wayne asks Calgary immigration lawyer Evelyn Ackah 3 questions ...

      Read More

      Calgary, Vancouver and Toronto Named Most Livable Cities in the World 2023

      Vancouver, Calgary and Toronto are again ranked in the top 10 most livable cities in the world 2023 by the Global Liveability Index 2023. These 3 Canadian cities have once again secured ...

      Read More

      20 Most Livable Cities In Canada For Newcomers

      Relocating to a new country is a big decision, and one that should be carefully considered. With so many factors to weigh, it can be difficult to know where to start. This is where livability ...

      Read More

      Emissions Reduction Alberta (ERA) Emerging Innovators Challenge

      Emissions Reduction Alberta (ERA) has announced the Emerging Innovators Challenge, a $40 million program to support small and medium-sized enterprises (SMEs) in Alberta to develop ...

      Read More

      Canada Welcomes Women Immigrant Entrepreneurs!

      Canada celebrates Women's History Month in October, honouring the women and girls of our past and present who are shaping a better, more equitable nation. Throughout October, Canada ...

      Read More

      Thank you, Evelyn! You were amazing yesterday. Not only gained a customer but also someone that will refer your services.

      – Barbara Reis

      View All Testimonials