Ontario Entrepreneur Stream: Canada PR by Investment

Surya Rathee
[Published 06 Oct, 2023 | 02:29 PM]
About Author - 4 min read
1806

Are you dreaming of building your entrepreneurial future in Canada? Ontario, the economic powerhouse of the country, maybe the perfect destination for you. The Ontario Immigrant Nominee Program (OINP) Entrepreneur Stream is designed for aspiring business owners and investors eager to contribute to Ontario's economic landscape and secure permanent residency in Canada.

The OINP Entrepreneur Stream is crafted to attract individuals with innovative business concepts or a desire to invest in and actively manage businesses in Ontario. The program aims to strengthen the province's economy, create employment opportunities, and support entrepreneurial growth.

OINP Entrepreneur Stream: Quick Eligibility Check

Eligibility Criteria and Requirements

To be eligible for the OINP Entrepreneur Stream, applicants must meet the following criteria:

• Net Worth: Minimum net worth of $800,000 CAD if your business is located within the Greater Toronto Area (GTA), or $400,000 CAD if it's located outside the GTA.
• Investment: Commit to investing at least $600,000 CAD if your business is in the GTA, or $200,000 CAD if it's outside the GTA.
• Business Experience: A minimum of 24 months of full-time business experience as an owner or senior manager within the last 60 months.
• Ownership: Commit to owning at least 33.33% of the business (or 51% if the business is in the ICT or Digital Communications sector).
• Job Creation: Create at least two permanent full-time jobs for Canadian citizens or permanent residents.
• Language Proficiency: Meet CLB 4 language proficiency requirements in either English or French.

OINP Entrepreneur Stream Application Process

The application process for the OINP Entrepreneur Stream involves the following steps:

Step 1: Expression of Interest (EOI)

Submit an EOI through the OINP e-Filing Portal. EOIs are assessed based on factors like age, education, business experience, and investment intent. If selected, you'll be invited to submit a complete application.

Step 2: Business Concept Proposal

Upon receiving an invitation, provide a comprehensive business concept proposal. This includes details about your proposed business, investment plan, job creation strategy, and how your venture aligns with Ontario's economic development goals.

Step 3: Application Submission

Submit a detailed application along with supporting documents. Ensure all information is accurate and up-to-date. Incomplete applications may lead to processing delays.

Step 4: Due Diligence and Interview

OINP officials may conduct due diligence on your application. If required, you'll participate in an interview to discuss your business proposal and its potential impact on Ontario's economy.

Step 5: Nomination

Successful applicants receive a nomination from the OINP. This nomination is crucial for the subsequent federal immigration process.

Step 6: Apply for Permanent Residence

Using the nomination, apply for Canada PR through the federal Express Entry system. The nomination enhances your Comprehensive Ranking System (CRS) score, increasing your chances of receiving an Invitation to Apply (ITA) for permanent residence.

Book a Free Consultation

OINP Entrepreneur Stream Processing Time

The OINP Entrepreneur Stream processing time varies based on factors such as application volume and completeness. On average, the entire process, from EOI submission to permanent residence, may take approximately 20-24 months.

To expedite your OINP Entrepreneur Stream application:

• Thorough Documentation: Ensure all required documents are complete, accurate, and up-to-date.
• Prepare for Interview: Anticipate an interview and be ready to discuss your business proposal and its potential impact.
• Stay Informed: Keep aware of updates to the OINP Entrepreneur Stream to align your application with the latest requirements.

If you're considering this program, be sure to keep an eye on the latest updates regarding OINP Entrepreneur Stream requirements, eligibility criteria, and processing times to make your immigration journey as smooth as possible. Ontario welcomes innovative and dedicated entrepreneurs like you to contribute to its economic growth and build a prosperous future for yourself and your family in Ontario, Canada.

Start your process today!