OINP Entrepreneur Stream
Ontario Immigrant Nominee Program (OINP) Entrepreneur Stream
The OINP Entrepreneur Stream allows Ontario to recruit and nominate qualified business investors and entrepreneurs from around the world who have the intent and ability to start or purchase businesses in Ontario.
The program’s objective is to stimulate economic growth and create jobs in Ontario. Immigrant entrepreneurs who are selected to participate in the program are given a two-year work permit. While that permit is in effect, an entrepreneur must actively manage his or her business for at least 18 months. Participants who successfully complete all OINP business immigration requirements will become provincial nominees, making them and their family members eligible for permanent residence in Canada.
Applicant Qualifying Criteria
To be eligible for the Entrepreneur Steam applicants must:
Meet personal net worth requirements of at least CAD $800,000 if your business is to be located in the Greater Toronto Area (GTA) or at least CAD $400,000 if your business is to be located outside the GTA.
Have at least two years’ experience managing or operating a business in the past five years.
The entrepreneur must invest at least CAD $600,000 in a business located within the GTA or at least CAD $200,000 in a business located outside the GTA.
Make a business research visit to Ontario no more than one year prior to submitting an expression of interest (EOI) to apply for the program if you are purchasing an existing business.
Your business must create at least two full-time jobs for Canadian citizens or permanent residents if your business is to be located in the Greater Toronto Area (GTA) or at least one full-time job if your business is to be located outside the GTA.
Verification of Personal Net Worth
As part of the application process, the personal net worth of the primary applicant must be verified by a qualified supplier. The cost of the review is typically in a range of CAD $3,000 to CAD $5,000. The applicant must give the qualified supplier access to all documentation (such as bank statements, investment statements, and proof of property ownership) that the qualified supplier needs to verify his or her net worth.
The OINP Entrepreneur process:
1. Make an exploratory visit to Ontario (if you are purchasing an existing business)
2. Submit an online registration (EOI)
3. Wait for an invitation to apply (ITA)
4. Submit an online application to the OINP
5. If the application is approved, attend a mandatory in-person interview at the OINP office in Toronto
6. Sign a performance agreement
7. Obtain a work permit and establish residence in Ontario
8. Establish and manage the business in Ontario for up to 20 months
9. Submit a final report
10. Await confirmation of nomination as a provincial nominee
11. Apply for permanent residence (including eligible family members)
12. Obtain permanent residence visas
How can a Regulated Canadian Immigration Consultant Help?
In addition to making sure the application is complete there are three main areas where an RCIC can help.
Immigration Strategy and Option: An RCIC can advise you on the different options that are available to you to obtain permanent residence in Canada and explain the pros and cons of each option. It is important you choose the best immigration program from the start as this will likely save you time and money in the long run.
Professional Representation: If you do not have a representative assisting you then you will probably only submit the required documentation listed on the IRCC document checklist. Submitting only these documents may be enough to result in a favorable decision. However, submitting only those documents sometimes is not enough to make your case and to satisfy the visa officer you meet the requirements of the visa. Generally, it is wise to submit as much evidence as you can above and beyond the minimum required by IRCC. Your representative can assist you in preparing and submitting a strong application to IRCC by identifying the weaknesses in your application and advising you how to strengthen your application.
Submission letter: An RCIC will prepare and submit a submission letter on behalf of the applicant along with the application. The submission letter is an important part of the application which summarizes and more importantly demonstrates why you meet the requirements of the visa.
Ready to apply to the OINP Entrepreneur Stream?
We will:
Review your information and develop a strategy to apply
Assist you in identifying suitable investment opportunities
Aide you in making an exploratory visit ( if applicable)
Prepare and submit your visa application to the OINP and IRCC
Act as your authorized representative to the OINP and IRCC
If you want to apply for permanent residence through the Ontario Entrepreneur Stream we are here to help! Please complete our free online assessment form or contact us and one of our Regulated Canadian Immigration Consultants will revert to you within 48 hours.
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