OINP Entrepreneur Stream
Ontario is Canada’s most multicultural and populous province. About half of the country’s population lives in Ontario. Moreover, here is the capital of Canada – Ottawa and the largest Canadian city – Toronto. We can safely say that Ontario is the centre of the economic and political life of Canada.
The Ontario Immigrant Nominee Program (OINP) helps promising candidates whose professional skills and work experience are of the greatest value to the Ontario economy to obtain a provincial nomination. Provincial nomination does not guarantee permanent residence in Canada, but it significantly increases the chances of obtaining one.
The Ontario Entrepreneur Stream
The Ontario Entrepreneur Stream (OES) – is an immigration path that was created for entrepreneurs and businessmen who want to open a new business in Ontario or buy an existing business in the province. Successful applicants will be allowed to come to Ontario on a temporary work permit to start their own business. If all investment and job conditions are met, the applicant may be nominated by the province for permanent residency in Canada.
In general, the application process in the Ontario Entrepreneur Stream have several main steps:
- If a candidate has an interest in immigrating to Ontario through the Ontario Entrepreneur Stream, he/she must first declare an interest by completing an application in the Expression of Interest (EOI) selection system
- Only candidates selected by the province from the EOI will receive an invitation to apply for a provincial nomination. The next step is submitting an online application
- Once all fees have been paid, a mandatory interview is required as part of the application evaluation process.
- In case, the application is approved, a Performance Agreement must be signed with OINP outlining the terms of investment and job creation.
- Receive a temporary work permit support letter from the province. It allows applying for a work permit with IRCC
- from this moment, it is possible for an entrepreneur to come to Ontario with a temporary work permit, open a business and fulfill a business plan within 20 months.
- If the business met all the requirements of the Performance Agreement, it is time for a nomination from the OINP.
- Finally, the successful entrepreneur can apply for permanent residence with IRCC.
Please note that there is a list of unacceptable business types within the Ontario Entrepreneur Stream.
To be eligible to immigrate through this stream as a business proprietor, the applicant must meet the mandatory requirements:
- have work experience of no less than 24 months out of the last 60 months as a manager – business owner or senior manager.
- have a net worth of at least 800,000 CAD if the business is located within the Greater Toronto Area (GTA) OR 400,000 CAD – outside of GTA or if your business belongs to the IT sector.
- invest in the business at least 600,000 CAD if the business is located within the GTA and control at least one-third of the equity in the business OR 200,000 CAD if the business is located outside the GTA or belongs to the IT sector and control at least one-third of the equity in the business.
- establish at least 2 job positions for Canadian citizens or permanent residents if the business is located within the GTA OR 1 job position for Canadian citizens or permanent residents if the business is located outside the GTA.
- be proficient in English or French (at least CLB level 4 in all four skills), as well as provide the results of language tests IELTS or CELPIP for English and TEF or TCF for French.
- make a business trip to Ontario within 12 months before applying (for those who buy an existing business).
Please note that an applicant can include one business partner who must also meet all of the criteria!
To be eligible to participate in the OES, the business must meet a list of requirements:
- The profit from the sale is the main goal of the business
- the Earned income is a primary income source
- the business must not violate Canadian law and comply with all licensing requirements and with all Ontario labour laws
- the proposed business must be exclusively in Ontario
OINP Entrepreneur Stream points grid
The maximum points required to get an invitation to apply for a nomination in the Ontario Entrepreneur Stream is 200 points. It includes points allocated for a self-declared score (up to 126 points) and points for the business concept (up to 74 points). The business concept must score at least 37 points (50% of maximum) to be considered eligible in the OINP’s EOI.
Despite the pandemic, OINP issued invitations to apply for the provincial nomination to 112 candidates from the beginning of 2020! The next invitation can be YOURS! The experts at Mansouri Canadian Immigration Services (or Mansouri Firm) are here for you. We are dedicated and attentive. We will help you to understand your options and guide you along the complex application process ahead. Please contact us for more detailed information!