OINP Entrepreneur Stream
The Ontario Immigrant Nominee Program (OINP) along with skilled worker program introduced the Entrepreneur stream to facilitate interested entrepreneurs to settle in Ontario and build their business. Any qualified individual, who intends to start a new business or buy an existing business in Ontario can apply under this stream. Once you get a nomination from OINP, you can apply for your PR with the IRCC.
To be eligible to apply under this stream
- You must have a minimum of 3 years of experience during the past 5 years prior to applying
- You must have the experience of business owner or that of a senior manager. As a business owner, you should be the owner of a minimum of third of the business
- You must have a minimum personal legal net worth of CAD $ 1,500,000 if you are planning to set up the business in Greater Toronto region. If you plan to put up your business outside this area, then your net worth needs to be a minimum of CAD $ 800,000.
- If you are planning to put up your business in Greater Toronto Area, then you need to make a minimum personal investment of CAD $1,000,000 and control at least 1/3rd of the business. If you are planning to put up your business outside the Greater Toronto area then you need to make a personal investment of CAD $500,000 and control at least 1/3rd of the business.
- If you plan to set up a business in information and communications technology/digital sector, then you need to show a minimum legal Net worth of $800,000 irrespective of the location of the business
- You need to actively participate in the day-to-day activities of the business and live in Ontario.
- Your main intention to set up the business should be to make profits.
- You must create full time jobs for a minimum of 2 Canadian citizens or permanent residents within 20 months of you starting the business operations in Ontario.
- You need to visit Ontario and do your research within 12 months of you having submitted your Expression of Interest.
This stream has 2 stages in the process
In STAGE 1,
- You need to submit an online Expression of Interest form
- If you qualify, you will be invited to submit your application online
- You will have to attend a mandatory in-person interview at the OINP office, Toronto.
- If you qualify in Stage 1, you will have to sign a performance agreement with the Government of Ontario. On the eve of your application being cancelled, you have the right to appeal for an internal review within 60 days of such cancellation.
In STAGE 2,
- You will first receive a Temporary work permit support letter to apply for the same with IRCC.
- Within 20 months of your arrival, you need to establish your business and submit your final report
- Once you meet all the business requirements and have submitted relevant documents, you will become eligible for a nomination for PERMANENT RESIDENCE.
Finally you will have to meet few requirements to get your nomination
- You need to achieve a minimum of Level 4 of Canadian Language Benchmark in reading, writing, speaking and listening in English or French
- You must have been physically living in Ontario for at least 75 percent of the time you were establishing your business
- You must be actively involved in the management activities of your business
If your application is successful, you receive a LETTER OF NOMINATION and an ONIP Certificate of Nomination. Within six months you need to apply for your Permanent Residence with the IRCC.
XIPHIAS Immigration helps you and guide you in every way to fulfill your dreams to settle in Canada. We have all the expertise to prepare your application and advice you before and after you come to Canada on how to accomplish the conditions put forth by the Canadian Authorities. Now is the time to take advantage of great life style in Canada. The opportunities are unlimited.Our Immigration Coordinators will reply your inquiry within 48 hours and provide you with FREE phone Consultation Service.