The Ontario Entrepreneur Stream Immigration Program is the business part of the Ontario Immigrant Nominee Program (OINP) designed to attract people who are looking to establish a new business idea or buy into an existing business in Ontario.
If you have a business initiative or plan or are in a position to buy into an existing business in Ontario, and ready to settle in Ontario, then the Entrepreneur Stream of the OINP could be the best immigration option for you.
Under the Ontario Entrepreneur Stream, the immigration authorities of the Ontario province invite registered eligible applicants to apply for a temporary work permit, allowing them to start the business in Ontario.
If the terms or conditions of a Performance Agreement are met, successful candidates may then apply for provincial nomination, which is the next step on the way to becoming a Canadian permanent resident.
The Ontario Entrepreneur Stream thus leads to permanent residence, but only after certain requirements are met. Moreover, eligible applicants will first be issued an invitation to apply (ITA) before they make an application. Invitations are granted on the basis of a unique points system.
Requirements for Ontario Entrepreneur Stream Immigration Program
Applicants under the Ontario Entrepreneur Stream must:
- Possess a minimum of 36 months of full-time business experience in the last 60 months. The experience must be as a senior manager or as an owner of a business.
- Have at least a net worth of $1,500,000 CAD if the proposed business will be located in the Greater Toronto Area (GTA).
If the proposed business will be positioned outside of the GTA, the minimum net worth requirement is $800,000.
If the proposed business will be under the Digital Communications or Information Communications Technology anywhere in the province, the minimum net worth requirement is $800,000.
- Be ready to invest a minimum of $1,000,000 in an Ontario business and have at least 33% equity share or ownership if the business is in the GTA.
If the business is located outside of the GTA, you must be ready to invest a minimum of $500,000 and have at least 33% equity share or ownership.
If the proposed business will be involved under the Information Communications Technology or Digital Communications sector anywhere in the province, you must be ready to invest a minimum of $500,000 and possess at least 33% equity ownership.
- Intend to creating two full-time jobs for permanent residents or Canadian citizens in the proposed company.
At the time of nomination, candidates under the Ontario Entrepreneur Stream must:
- Score at least CLB 4 in English or French.
- Actively involved in the daily operations and management of the business
- Be physically residing in Ontario for at least 75% of the time in which you are running the business.
If you are applying with a business partner, the partner must also fulfill all the conditions described above.
Business Requirements for Ontario Entrepreneur Stream
Businesses under the Ontario Entrepreneur Stream must:
- Be for-profit
- Sell goods/products and/or services
- Earn income actively
- Comply with Canadian business laws.
- Comply with Ontario labour laws.
- Be a permanent business in Ontario.
- If there is a third-party investors, the investors must be an institutional investor i.e banks.
If the applicant is buying into an already existing business
- The business should have only one owner over the past 5 years.
- The applicant must assume full managerial control of the business.
- All prior jobs and wage levels should be maintained.
- Two additional full-time jobs for permanent residents or Canadian citizens must be created.
- The applicant must plan to grow the business.