The Ontario Immigrant Nominee Program’s Entrepreneur Stream was designed to support individuals from countries outside Canada who are looking to implement a new business idea or buy an existing business in the province. The Entrepreneur Stream offers entrepreneurs the opportunity to be nominated for permanent resident status once their business has been successfully established in Ontario.
In order to participate in the Entrepreneur Stream, you (the Principal Applicant) and your Business Partner (if applicable) must meet the minimum requirements:
At least 36 months of full-time business experience in the last 60 months, with the last 12 months in either active general business administration or in an area of expertise related to the proposed business opportunity.
Must be as a business owner OR as a senior manager
If you have experience as a business owner and as a senior manager, you must choose only ONE to use for your EOI and for your application (if you are invited to apply)
B) NET WORTH:
A minimum net worth of $1,500,000, if your proposed business will be located within the GTA
A minimum net worth of $800,000, if your proposed business will be located outside the GTA
A minimum net worth of $800,000, if your proposed business will be in the ICT/Digital Communications sector (regardless of where you set up the business)
C) PERSONAL INVESTMENT FUNDS:
If your proposed business will be located within the GTA, you must make a minimum personal investment of $1,000,000 and have a minimum equity ownership of 33.3%.
If your proposed business will be located outside the GTA, you must make a minimum personal investment of $500,000 and have a minimum equity ownership of 33.3%.
If your proposed business will be in the ICT/Digital Communications sector (regardless of where you set up the business), you must make a minimum personal investment of $500,000 and have a minimum equity ownership of 33.3%.
D) JOB CREATION:
Must create at least 2 permanent full-time jobs for Canadian citizens/permanent residents
E) EXPLORATORY VISIT:
If you purchase an existing business, you must make at least one business-related visit to Ontario in the last 12 months, prior to submitting your application
SCORING FACTORS AND POINTS
Your registration will be scored based on the information you provide. The grids below outline how your score will be calculated. You can claim points in 3 categories: Experience, Investment and Human Capital. The maximum score available is 160 points. There is no overall minimum score.
Human Capital Factors
Total Points Available
NET WORTH VERIFICATION REPORT
A designated service provider is a professional services supplier, who is approved by OINP, and will complete a verification report of your personal net worth and source of funds. The list of designated service providers and instructions will be sent to you with your Invitation to Apply if you are selected from the EOI pool.
You must enter into an agreement with an OINP designated service provider to complete a review of your personal net worth. You are responsible for all costs associated with this service. The designated service provider will review your personal net worth claims and your accumulation of funds through an analysis of your supporting financial documentation and / or an independent investigation. The designated service provider will produce a report of your personal net worth and its legal accumulation. When the review is complete, the designated service provider will send you a copy of the verification report, which you must include as part of your application.
GENERAL REQUIREMENTS FOR BUSINESS
In addition to you meeting the minimum requirements, your proposed business must also meet the following general requirements to participate in the Entrepreneur Stream:
Must intend 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.
Must comply with Canadian legal requirements and all regulatory industry and licensing requirements which govern its legitimate operation.
Must comply with all Ontario labour laws, including but not limited to employment standards, health and safety and labour relations legislation.
Must be considered a permanent business in Ontario.
Third party investors must be a Schedule I or Schedule II bank or an institutional investor.
PURCHASING AN EXISTING BUSINESS REQUIREMENTS
If you are interested in purchasing an existing business in Ontario, it is your responsibility to ensure that the business meets all the minimum eligibility requirements and other requirements specific for purchasing an existing business:
Must have been in continuous operation by the same owner or group of owners for the last 60 months before you buy the business
Must completely transfer ownership from the previous owner(s) to you, your Business Partner (if applicable) and/or your third party investor(s), if applicable
Must not have been previously owned /operated by current or former OINP business stream nominees
You must preserve all existing permanent full-time jobs and create two (2) additional permanent full-time jobs. You must maintain at a minimum the current wage levels and employment terms of existing staff.
Business plan must demonstrate that you intend to grow the business
You must meet the following requirements in order to be nominated once you have established your business and met your performance agreement:
a. Official language proficiency at a Canadian Language Benchmark (CLB) 5 level or equivalent in each language proficiency:
i. Listening: IELTS 5
ii. Reading: IELTS 4
iii. Writing: IELTS 5
iv. Speaking: IELTS 5
You must be physically residing in Ontario for 75% (9 months out of the year) for the period in which you are in Ontario establishing your business
STEPS TO PARTICIPATE IN THE ENTREPRENEUR STREAM:
Submit an Expression of Interest (EOI)
Receive the invitation to apply and submit a complete application to the Ontario Immigrant Nominee Program (OINP)
If your application is approved, sign a Performance Agreement
Apply for a temporary work permit to Immigration, Refugees and Citizenship Canada (IRCC) in order to establish your business in Ontario
Meet the commitments of your Performance Agreement
Apply to IRCC for permanent resident status within six (6) months of being nominated by OINP
SCHEDULE YOUR CONSULTATION TODAY
So, why schedule a comprehensive consultation with us? Well, the answer is pretty simple. Whether you are a skilled professional, a business immigrant, a student, a foreigner worker, or even a visitor in Canada; you need to have a full understanding of your immigration options!
More importantly, you need to know how to enhance your chances in order to meet your immigration options. We would check your eligibility, confirm your qualifications, and provide you with our findings & recommendations in a form of a detailed report. And of course, we would explain to you, step by step, all the obligations you must fulfill to reach your immigration objectives.
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