Ontario Immigrant Nominee Program (OINP) Entrepreneur Stream
The Ontario Immigrant Nominee Program (OINP) Entrepreneur Stream is designed to attract individuals who are looking to implement a new business idea or buy an existing business in Ontario. This program offers entrepreneurs the chance to be nominated for Canadian permanent resident status once their business has been successfully established in Ontario. This initiative, rooted in the Ontario Immigration Act, 2015, and its regulations, offers entrepreneurs and their business partners the chance to secure permanent residence in Canada upon the successful establishment of their business in Ontario.
Application Process
The application process for the OINP Entrepreneur Stream involves two distinct stages:
Stage 1
- Register an expression of interest.
- Submit an online application if invited.
- Attend a mandatory interview.
- Sign a performance agreement upon successful application.
Mandatory Requirements (Stage 1)
- Business Experience: At least 24 months as a business owner or senior manager in the last 60 months.
- Net Worth: Minimum personal net worth of CAD 800,000 in the Greater Toronto Area or CAD 400,000 outside it.
- Investment and Equity: Minimum personal investment of CAD 600,000 in the GTA or CAD 200,000 outside it, with at least one-third equity in the business.
- Active Involvement: Direct management of business operations.
- Profit Intent: Investment must aim for profit, not just interest, dividends, or capital gains.
- Job Creation: Must create at least two full-time jobs for Canadian citizens or permanent residents in the GTA; one job outside the GTA or in the ICT/digital communications sector.
Stage 2
Before proceeding with your application for the OINP Entrepreneur Stream, it’s essential to complete Stage 1 successfully. This involves ensuring that you meet all mandatory requirements, carefully reviewing the list of ineligible business types, and thoroughly understanding the expression of interest process. These steps are crucial in preparing you for Stage 2 of the application process, where you will further demonstrate your eligibility and commitment to establishing and managing a successful business in Ontario.
- Receive a temporary work permit support letter to apply for a temporary work permit with IRCC.
- Establish the business within 20 months and submit a final report.
- Upon meeting all requirements, provide documentation for permanent residence nomination.
Stage 2 Requirements
- Language Proficiency: Canadian Language Benchmark (CLB) Level 4 in English or French.
- Residency: Must live in Ontario for 75% of the business establishment period.
- Active Management: Direct involvement in day-to-day business management.
- Performance Agreement Compliance: Fulfill all commitments outlined in the performance agreement.
Ineligible Businesses
Certain types of businesses are not eligible under this stream, including automated car washes, pawnbrokers, and businesses involved in producing or distributing sexually explicit materials, among others. Specific restrictions apply within the Greater Toronto Area.
Benefits of the OINP Entrepreneur Stream
Participating in the OINP Entrepreneur Stream offers several benefits, including:
- Business opportunity: Entrepreneurs can establish or acquire a business in Ontario, tapping into the province’s diverse and growing market.
- Permanent residency: Provincial nomination through the OINP Entrepreneur Stream provides a pathway to permanent residency in Canada for applicants and their families.
- Economic contribution: Successful entrepreneurs contribute to Ontario’s economic growth by creating jobs, generating revenue, and stimulating innovation and investment.
- Quality of life: Ontario offers a high quality of life, with world-class healthcare, education, and cultural amenities, making it an attractive destination for individuals and families.