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Ontario PNP ENTREPRENEURIAL STREAM

Introduction:

The Ontario Immigrant Nominee Program’s Entrepreneur Stream is designed to attract & support entrepreneurs, and high net worth individuals to establish a new business in Canada and/or buy an existing business in the province of Ontario. Successful Entrepreneur land Ontario with a status of work permit initially. The program leads towards PR and then the Citizenship as well. The program is much popular since the government reduced the investments in mid-2019.

OINP Entrepreneur Stream Application Process Overview

The OINP Entrepreneur Stream application process can be summed up as a two-phase process:

Phase I:

  1. Prepare to submit an online Expression of Interest (EOI).

  2. Register an online EOI with the OINP.

  3. Prepare an application to the Entrepreneur Stream (if invited to apply).

  4. Submit a complete online OINP Entrepreneur Stream application, upload all the necessary supporting documents and pay the required application fee.

  5. Attend a mandatory interview as part of the application assessment process. 

  6. Sign a Performance Agreement outlining investment and job creation conditions with the OINP (if the application is approved).

Phase II:

  1. Obtain a temporary work permit support letter to apply for a work permit with Immigration, Refugees and Citizenship Canada (IRCC) from OINP.

  2. Arrive in Ontario on a temporary work permit to establish the business and carry out the business plan. Entrepreneurs will have 20 months to establish a business in Ontario.

  3. Receive a nomination from the Government of Ontario if the conditions of the signed Performance Agreement are met.

  4. Apply for Canadian permanent residence with IRCC within six (6) months of nomination. The OINP performs post-nomination monitoring for a period of 36 months following the issuance of permanent resident status.  

 

IELTS  REQUIREMENT -    4 CLB LEVEL >> (3.5  4.0  4.5  4.0)
 

Minimum Requirements for Applicants

In order to make an Expression of Interest (EOI), prospective entrepreneur applicants must:

  • Have at least 24 months of full-time business experience in the last 60 months as a business owner or senior manager;

    • If the applicant has experience as both a business owner and a senior manager, he or she must choose only ONE to use for the EOI and for the application.

    • As a business owner, the prospective applicant must have had an active role in the business and owned at least one-third of the business.

    • As a senior manager, the prospective applicant must have had senior decision-making responsibilities in the business.
       

  • Have a minimum net worth, which varies depending on where the business will be located;

    • For businesses located within the Greater Toronto Area (GTA), applicants must have a minimum net worth of $800,000.

    • For businesses located outside the GTA, applicants must have a minimum net worth of $400,000.

    • For businesses in the ICT/Digital Communications sector (regardless of where it will be located), applicants must have a minimum net worth of $400,000.
       

  • Provide a third-party verification report, prepared by an authorized service provider, in order to demonstrate their net worth.
     

  • Make a minimum personal investment, which varies depending on the location of the proposed business;

    • Personal investments must be made towards expenditures that are essential to the establishment and operation of the business, excluding cash, cash equivalents, working capital, or wages paid to the entrepreneur applicant or a family member.

    • If the proposed business will be located within the GTA, applicants must make a minimum personal investment of $600,000.

    • If the proposed business will be located outside the GTA, applicants must make a minimum personal investment of $200,000.

    • If the proposed business will be in the ICT/Digital Communications sector (regardless of where it will be located), applicants must make a minimum personal investment of $200,000.
       

  • Have minimum equity ownership of 33.3 percent (one-third);
     

  • For businesses located within the GTA, applicants must commit to creating at least two permanent, full-time jobs for Canadian citizens and/or permanent residents;
     

  • For businesses located outside the GTA, applicants must commit to creating at least one permanent, full-time job for a Canadian citizen or permanent resident; and 

    • For businesses located within the GTA, if purchasing an existing business, the applicant must create two new full-time permanent positions in addition to the current staff.

    • For businesses located outside the GTA, if purchasing an existing business, the applicant must create one new full-time permanent position in addition to the current staff.
       

  • Make at least one business-related visit to Ontario in the 12 months prior to submitting the Expression of Interest, if purchasing an existing business.
     

  • Be actively involved on an ongoing basis in the management of the proposed business.
     

  • Not invest the capital in the proposed business for the primary purpose of deriving interest, dividends or capital gains.
     

Note: If applying with a business partner who is also seeking the nomination, both the entrepreneur applicant and business partner must individually meet all the minimum requirements listed above. The applicant is only permitted to include one foreign national business partner. 
 

Minimum Requirements for Businesses

The proposed business must meet the following general requirements to participate in the Entrepreneur Stream:
 

  • The purpose of the proposed business must be to make a profit through the sale of goods and/or services;
     

  • Primary income sources must be from active (earned) income, not passive (unearned) income;
     

  • The proposed business must comply with Canadian legal requirements and all regulatory industry and licensing requirements which govern its legitimate operation;
     

  • The proposed business must comply with all Ontario labor laws, including but not limited to employment standards, health and safety and labor relations legislation;
     

  • The proposed business must be considered a permanent business in Ontario; and
     

  • Third-party investors must be a Schedule I* or Schedule II** bank or an institutional investor.
     

  • The applicant must submit a business plan.

Looking for Best Advice?

what do next?

Let Superior Consulting evaluate your case and advise you regarding the process and steps to follow for a successful application. Our Canadian counterpart along with the assistance of our CEO/Senior Immigration Consultant as an Authorized Agent of RCIC Government of Canada, specializing in business immigration, having 16+ years of Experience, Superior Experts can help you keep Canadian Immigration Simple!

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