What does OIIC mean in INVESTMENTS
The Ontario Immigrant Investor Corporation (OIIC) is a provincial institution in Canada that helps to manage the investment activities of all immigrants interested in doing business in the province. The purpose of the OIIC is to facilitate foreign direct investment into Ontario, creating jobs and stimulating the economy. The OIIC assists foreign investors by providing services such as legal advice and other resources to help them establish their businesses in Ontario. By investing in businesses in Ontario, immigrants are able to create a strong economic base that supports and grows the local economy.
OIIC meaning in Investments in Business
OIIC mostly used in an acronym Investments in Category Business that means Ontario Immigrant Investor Corporation
Shorthand: OIIC,
Full Form: Ontario Immigrant Investor Corporation
For more information of "Ontario Immigrant Investor Corporation", see the section below.
» Business » Investments
Essential Questions and Answers on Ontario Immigrant Investor Corporation in "BUSINESS»INVESTMENTS"
What is Ontario Immigrant Investor Corporation?
The Ontario Immigrant Investor Corporation (OIIC) provides permanent resident status in Canada for qualified high-net-worth individuals through investment in the provincial economy. It offers a unique opportunity to obtain permanent residence in Canada if an individual can prove they have a minimum of CAD$1,500,000 net worth and are willing to invest CAD$800,000 with the OIIC.
Is net worth requirement mandatory?
Yes. Applicants must demonstrate total net worth of at least CAD$1,500,000 and sign an agreement with OIIC to invest no less than CAD$800,000 in an approved project or government security fund.
Is it required that applicants hold assets under joint ownership?
No. Applicants may hold assets individually or jointly with their spouse or common law partner. Assets can be acquired through inheritance or a gift but must be proven and documented by the applicant.
What is included when calculating total net worth?
Total net worth includes all assets such as real estate properties, stocks, bonds, business interests, cash etc., minus the total value of outstanding debts owed by the applicant and/or their spouse/common law partner.
Are there language requirements when applying for Ontario Immigrant Investor Corportation?
Yes. Applicant's proficiency in either English or French must meet specified levels on one of the approved language tests within 1 year prior to submitting the application package to the OIIC.
How long does it take for my application to be processed?
Generally speaking it takes approximately 10 months from submission of an application package until obtaining confirmation from Citizenship and Immigration Canada (CIC) that permanent resident status has been granted. This timeline is subject to change without notice depending on processing speed at CIC offices around the world. Once applications are approved by CIC it can take another 4-6 weeks before all paperwork is completed and applicants receive their Permanent Resident Visa.
Can I apply if I am currently living overseas?
Yes applicants who are currently living outside of Canada may apply as long as they meet all criteria set out by OIIC including demonstrating sufficient funds for investment purposes as well as expected language proficiency levels and background checks conducted by CIC
Final Words:
The OIIC is an important resource for investors looking to set up their business operations in Ontario, Canada. It offers many benefits for those who invest through its platform, including lower taxes when compared with other provinces, access to credit with favourable terms, streamlined business setup processes, financial advisory services specialized in immigration law, reduced paperwork requirements and more flexible immigration regulations – all designed to make it easier for you as an investor to invest your money into a business venture that suits your needs best.