ICS is a private immigration service provider for individuals wishing to immigrate to Canada. Our services include but are not limited to application review, document preparation and submission, and immigration consultation.
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Ontario Business Immigration:
The Ontario Business Immigration Program is for foreign nationals seeking a global business extension. They can either implement a new business initiative or buy an existing one in the province. The program allows entrepreneurs to be nominated for permanent resident status once they successfully establish their new business in Ontario.
OINP Entreprenuer Stream:
The Ontario Entrepreneur stream is one of the renowned business immigration of the Ontario Immigrant Nominee Program (OINP). It’s a Provincial Nominee Program (PNP) operated by the province of Ontario. This stream strategically focuses on adept business proprietors or seasoned senior business executives aspiring to establish residences in Ontario.
Prospective candidates who thrive in this program must initiate a novel business venture or acquire an established enterprise, engaging in its day-to-day managerial responsibilities.
OINP Entrepreneur Stream Eligibility!
Business aspirants applying for OINP Entrepreneur Stream can do so alone or with a business partner. However, they must meet the minimum eligibility requirements for all the below-listed factors. In contrast, if you intend to apply with your business partner, both must meet all the following criteria for each factor.
Experience -
One must comprise a minimum of 36 months (3 Years) of full-time experience as a business owner or senior manager within the past 60 months
Of those 36 months, the most recent 12 months should be either in general business administration or in a related area of expertise to the proposed business opportunity.
Net Worth -
If the proposed business is in the Greater Toronto Area (GTA), C$800,000.
The cost for the proposed business would be C$400,000 if it is outside the GTA.
If the business falls under the ICT/Digital Communications sector, the required funding is $400,000, irrespective of location.
Personal Investment Funds -
If your proposed business is located in the Greater Toronto Area (GTA), the minimum equity ownership required is 33.3%, with a total investment of C$600,000.
If your proposed business surges outside the Greater Toronto Area (GTA), the minimum equity ownership required is 33.3%, and a total investment of $200,000 is necessary.
If the business is in the ICT/Digital Communications sector, the minimum equity ownership required is 33.3%, and the funding required is $200,000, irrespective of location.
Job Creation -
If your proposed business is in the Greater Toronto Area, create at least two permanent full-time jobs for Canadian citizens or permanent residents.
If the proposed business is located outside the Greater Toronto Area or is not in the ICT/Digital Communications sector, create at least one permanent, full-time job for Canadian citizens or permanent residents.
Exploratory Visit -
If you buy an already established business, you must have made at least one business-related trip to Ontario within the past year before you apply.
Meeting the minimum requirements for all factors is necessary to be eligible for the OINP Entrepreneur Stream. If you are applying with your Business Partner who seeks the nomination, he/she must also meet the minimum requirements for each factor.
OINP Entrepreneur Stream Application Process:
The Canadian government has simplified the OINP Entrepreneur Strem application process into two phases:
Phase I: -
2. Register/Sign up in an online EOI with the OINP.
3. Prepare an Entrepreneur Stream application (if invited to apply).
4. Submit a complete OINP Entrepreneur Stream application online. Upload the supporting documents and pay the required application fee.
5. Attend the mandatory interview as part of the application assessment process.
6. Once your application is approved, you must sign a Performance Agreement the OINP outlining investment and job creation conditions.
Phase II: -
2. Entrepreneurs can arrive in Ontario on a temporary work permit and have 20 months to establish their business.
3. Once the signed Performance Agreement conditions are met, the Government of Ontario may nominate you.
4. Applicants nominated by OINP must apply for Canadian permanent residence with IRCC within six (6) months. OINP performs post-nomination monitoring for 36 months after the issuance of permanent resident status.
ICS is here to guide you!ICS is here to guide you!
At ICS, we specialize in Canadian immigration and are dedicated to helping you find the perfect visa or immigration service that meets your needs. To get started, complete our initial consultation form and arrange a consultation with one of our immigration advisors today. Once we have evaluated your qualifications, we will inform you of your eligibility.
If you qualify to apply for business immigration to Ontario, we will begin processing your permanent resident visa application.
Note – All your information is safe with ICS. We ensure not to share it with any third party. It will only be used to assess your visa eligibility.
Frequently Asked Questions (FAQs):
What is a Provincial Nominee Program (PNP)?
A Provincial Nominee Program (PNP) is a program through which provinces in Canada can nominate individuals with high-level skills and experience required to contribute to the economic growth of the province.
What is the after-nomination process under the Entrepreneur Stream?
After nomination, you will receive a temporary work permit support letter, which allows you to apply for a temporary work permit to begin your entrepreneurship journey in Ontario. Once your business meets the conditions, you can apply for permanent residence.
How long does the application process for the Entrepreneur Stream usually take?
The Entrepreneurship Strem processing time can vary, but it typically takes several months for the application to be reviewed and additional time for the work permit and permanent residence application processes.
What is the Investor Stream in Ontario's Business Immigration Program?
The Investor Stream is designed for individuals with a high net worth who wish to make a passive investment in an approved investment fund in Ontario and can demonstrate their commitment to creating jobs.
Can I include family members in my application?
Yes, you can include your family members, especially spouse/common-law partner and dependent children, in your Entrepreneur Stream application.