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Ontario Entrepreneur Immigration: A Complete Guide
By : Lifeincan   |   Jul 30, 2024

Ontario Entrepreneur Immigration: A Complete Guide

Ontario is one of the ten provinces of Canada and has the largest population. Therefore, it is considered to have a thriving economy that attracts many investors across the globe. The OINP Entrepreneur Stream is a good chance for experienced businessmen and senior managers to start and develop their own companies in Ontario. This guide provides you with all the details of the program, the necessities, the procedures, and more so, the advantages of coming to Ontario as an entrepreneur.

Brief Description Of The OINP Entrepreneur Stream

The OINP Entrepreneur Stream is one of the provincial nominee programs intended for foreign investors who want to start a business or buy an enterprise in Ontario and develop it. Upon approval, the nominee is granted a nomination for Canada’s permanent residency status.

Key Aspects of the Program

The intended effect, which the OINP Entrepreneur Stream seeks to achieve is the creation of economic development and employment opportunities in Ontario. Below are some key features:

Feature

Description

Program Type

Provincial Nominee Program (PNP)

Target Audience

Experienced business owners and senior managers

Business Location

Anywhere in Ontario, with different requirements for within and outside the Greater Toronto Area (GTA)

Permanent Residence

Possibility to apply for permanent residence after meeting business performance agreements

Language Proficiency

Minimum Canadian Language Benchmark (CLB) level 4 in English or French

Minimum Investment

Varies based on business location and sector

Job Creation

Requirement to create full-time jobs for Canadian citizens or permanent residents

Application Process

Two-stage process: Expression of Interest (EOI) and official application

Eligibility Criteria

To be eligible for the OINP Entrepreneur Stream, applicants must meet several criteria regarding their business experience, net worth, personal investment, and job creation.

The eligibility criteria are designed to ensure that only the most qualified and committed entrepreneurs are selected.

Criteria

Requirements

Business Experience

At least 2 years of business experience as an owner or senior manager

Net Worth (Within GTA)

Minimum CAD $800,000

Net Worth (Outside GTA/ICT Sector)

Minimum CAD $400,000

Personal Investment (Within GTA)

Minimum CAD $600,000

Personal Investment (Outside GTA/ICT Sector)

Minimum CAD $200,000

Equity Ownership

Minimum 33.3% ownership in the business

Job Creation (Within GTA)

Create at least 2 permanent full-time jobs for Canadian citizens or permanent residents

Job Creation (Outside GTA/ICT Sector)

Create at least 1 permanent full-time job for a Canadian citizen or permanent resident

Application Process

The application process for the OINP Entrepreneur Stream is divided into two main stages: 

Stage 1: An Expression of Interest (EOI)

Stage one involves:

  • Preparation: Gather all the necessary documents and information that could act as evidence that you qualify for the program.

  • Register EOI: Submit an EOI through the Internet with the help of the OINP e-Filing Portal.

  • EOI Assessment: EOIs are judged on factors such as business experience, the amount of investment that is proposed, and the number of employment opportunities that are expected among others.

  • Invitation to Apply: The leading-ranking candidates are only required to complete a full application and submit it.

Stage 2: Official Application

The next stage involves:

  • Submit Complete Application: Upload all the required documents for the application as well as pay an application fee.

  • Mandatory Interview: There is a need to attend the interview and be able to give details of the business plan and experience.

  • Sign Performance Agreement: Sign a memorandum of understanding that will outline the commitments that the investors, employers, and the businesses willing to invest, employ people, and operate their businesses respectively.

  • Obtain Work Permit Support Letter: Be provided with a letter that one has to use to apply for a Temporary Resident Permit from Immigration, Refugees and Citizenship Canada (IRCC).

  • Establish Business: Go to Ontario, and start the business within the next 20 months as outlined in the business plan.

  • Submit Final Report: Prepare a report of the performance and make sure to conform to all the promises that were made.

  • Nomination for Permanent Residence: When the final report is approved, then get a nomination and then try for permanent residence.

Performance Agreement

An essential component of the process is the Performance Agreement which contains the contractual obligations based on investment, employment creation, and business plans and performance that the applicant must demonstrate. These are often lacking which means that the application may be denied depending on the outcome of the above commitments.

Scoring System for EOI

The OINP utilizes a system of awards of points to rate EOIs. The maximum score is 200 points, divided into three main categories: In this context, the business concept is the idea that defines the enterprise, investment is the initiative capital, and human capital is the labor employed in the commercial venture.

Business Concept Factors

Factor

Maximum Points

Business Model

15

Market Research

15

Significant Economic Benefit and Key Sector

10

Investment Allocation

10

Business Location

10

Job Creation

14

Investment Factors

Factor

Maximum Points

Net Worth

15

Investment Amount

25

Business-Related Visits

6

Human Capital Factors

Factor

Maximum Points

Business Experience

25

Specific Experience

35

Level of Education

10

Official Language Ability

10

Detailed Breakdown of Scoring Criteria

Business Experience

Experience Type

Duration

Points

Business Owner-Manager

Less than 24 months

0

Business Owner-Manager

24 to 47 months

13

Business Owner-Manager

48 to 59 months

19

Business Owner-Manager

60 months

25

Senior Manager

Less than 24 months

0

Senior Manager

24 to 47 months

13

Senior Manager

48 to 59 months

19

Senior Manager

60 months

25

Net Worth

Net Worth Amount

Points

Less than $400,000

Not eligible

$400,000 to $999,999

10

$1,000,000 or more

15

Less than $800,000 (within GTA)

Not eligible

$800,000 to $2,499,999

5

$2,500,000 or more

10

Personal Investment

Investment Amount

Points

Less than $200,000

Not eligible

$200,000 to $499,999

15

$500,000 to $799,999

20

$800,000 or more

25

Less than $600,000 (within GTA)

Not eligible

$600,000 to $1,499,999

10

$1,500,000 to $2,999,999

15

$3,000,000 or more

20

Job Creation

Number of Jobs

Points

1 for outside GTA or ICT/Digital Communications sector

3

2 for inside GTA

3

3 – 4 jobs

5

5 or more jobs

7

Business-Related Visits to Ontario

Visits

Points

No

0

Yes

6

Specific Experience

Experience

Points

None

0

One past specific experience

15

Two past specific experiences

25

Three past specific experiences

35

Level of Education

Education Level

Points

No post-secondary education

0

2 Year Program

5

3 Year Program or longer

10

Official Language Ability

Language Proficiency

Points

None or minimal (CLB 3 or below)

0

Basic understanding (CLB 4)

5

Intermediate and advanced (CLB 5 or higher)

10

Conclusion

The OINP Entrepreneur Stream provides a structured and supportive pathway for international entrepreneurs to establish and grow their businesses in Ontario. By meeting the eligibility requirements and following the comprehensive application process, entrepreneurs can leverage the economic opportunities in Ontario and contribute to the province's vibrant economy. Whether you choose to establish a new business or purchase an existing one, Ontario offers a welcoming environment for business success.