Ontario is one of the most populous and multicultural province in Canada. It is the social, economic and financial inland of the country. The Ontario Immigrant Nominee Program (OINP) via Entrepreneur stream allows entrepreneurs and high net worth individuals from outside Canada to start a business or buy an existing business. OINP works in partnership with the Government of Canada through Immigration, Refugees and Citizenship Canada (IRCC). It recognizes and nominates people and grant them temporary work permit initially. It can be converted into permanent residence after fulfilling certain requirements to give a business concept, operate a business and intend to settle in Ontario.
The basic requirements of the program are:
- Main applicant must have at least 24 months of full-time experience in the last 60 months as business owner or senior manager.
- Minimum net worth of $400,000 CDN for establishing business outside Greater Toronto Area (GTA).
- Principal applicant must make a minimum personal investment of $200,000 CDN and control at least one-third of the equity in the business.
- Degree or Post-Secondary diploma will be an added advantage.
- If proposed business is within GTA, principal applicant must make a minimum personal investment of $600,000 CDN and outside GTA, an investment of $200,000 CDN.
- Main applicant must have at least one-third of the equity in the business.
- Principal applicant must create at least two permanent full-time jobs for Canadian citizens or permanent residents with first 20 months of establishing the business.
Steps to Successful OINP Application
- Make sure you are eligible to apply by meeting the basic requirements.
- Submit your profile to the Government of Ontario to apply to be nominated.
- Apply to Government of Canada for permanent residence
Get assistance with your Canadian Immigration with Experts
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