There is no doubt that the NRST (and other Ontario Government initiatives) has caused a significant drop in residential real estate sales. However, it may not have as significant an impact on many foreign nationals.
On May 9, 2016, the Ontario Immigrant Nominee Program ("OINP") announced that the Province of Ontario had received a sufficient number of OINP applications to meet its 2016 federal allocation. As a result, it has placed a temporary pause on the intake of applications under what it refers to as "select, high-volume" OINP streams.
When the Ontario Immigrant Nominee Program ("OINP") announced the termination of its Investor Stream on October 29, 2015, it promised that it would create new Entrepreneur and Corporate Streams to replace it. On December 18, 2015, the OINP published complete eligibility criteria and application guidelines for these two new business streams.
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