Ontario Entrepreneur Stream
The Ontario Immigrant Nominee Program (OINP), Ontario Entrepreneur Stream aims to attract talented entrepreneurs worldwide to boost Ontario’s economic growth. This program allows individuals to establish new companies or acquire existing businesses, fostering innovation and job creation. Applicants must demonstrate business experience, a viable plan, and economic benefits for the local community. This initiative helps Ontario remain a top destination for international business and investment.
What Is Ontario Entrepreneur Stream?
The province of Ontario launched the Entrepreneur stream which is one of the popular Business streams BPNP of the Ontario Immigrant Nominee Program (OINP), a Provincial Nominee Program (PNP) managed by Ontario. This entrepreneur stream is for business owners or senior business managers who have experience in business and have the desire to live in Ontario.
Application Process for Ontario Entrepreneur Stream
The Entrepreneur Stream application is a two-stage process.
Stage 1 – Ontario Entrepreneur Stream
The stage 1 of the application process includes:
- Register an Expression Of Interest by email.
- If invited, submit an online application.
- You and your business partner (If Applicable) attend a mandatory in-person interview at the OINP office in Toronto.
- If stage 1 of the application is successful, you must sign a performance agreement.
Stage 2 – Ontario Entrepreneur Stream
Stage 2 of the application process includes:
- We issue a temporary work permit support letter so that you can apply to IRCC for a temporary work permit.
- Establish your business – you have 20 months to implement your business plan and submit a final report.
- If your business meets all requirements, we ask you for documentation to make sure you are eligible for nomination for permanent residence.
Mandatory Requirements For Ontario Entrepreneur Stream
To qualify under the entrepreneur stream, you must have a viable business that is likely to provide material economic benefit to the economy of Ontario as a whole or to the local Ontario economy where the business will be located. You and one business partner (if applicable) must both meet the eligibility requirements.
If you are invited to submit an application, you must provide supporting documentation to demonstrate you meet the requirements.
1. Business Experience
- You must have at least 24 months of full-time business experience in the last 60 months.
- Your experience must be as a business owner or senior manager (business management). As a business owner, you must have had an active role and owned at least one-third of the business. As a senior manager, you must have had senior decision-making responsibilities in the business.
2. Net Worth
If your proposed business will be located:
- Within the Greater Toronto Area (the city of Toronto and Durham, Halton, York, And Peel Regions), you must have a minimum net worth of CAD 800,000.
- Outside of the Greater Toronto Area, you must have a minimum net worth of CAD 400,000.
If your proposed business is in the information and communications technology/digital communications sector, you must have a minimum net worth of CAD 400,000 regardless of location
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3. Personal Investment Funds and Minimum Equity
If your proposed business will be located:
- Within the Greater Toronto Area, you must make a minimum personal investment of CAD 600,000 and control at least one-third of the equity in the business.
- Outside of the Greater Toronto Area, you must make a minimum personal investment of CAD 200,000 and control at least one-third of the equity in the business.
Suppose your proposed business is in the information and communications technology/digital communications sector. In that case, you must have a minimum net worth of CAD 400,000 regardless of location and invest a minimum$200,000 CAD.
4. Active Involvement
It would be best if you were actively involved, on an ongoing basis, in the management of the business.
5. Capital Investment Purpose
The primary purpose of investing capital in the business must be to profit. It must not be to derive interest, dividends, or capital gains.
6. Job Creation
If the business is going to be located inside the Greater Toronto Area, you must create at least two permanent full-time jobs for Canadian citizens or permanent residents. Suppose the business will be located outside the Greater Toronto Area or in the information and communications technology or digital communications sector.
In that case, regardless of location, you must create at least one permanent full-time job for a Canadian citizen or permanent resident. Jobs must be created within the first 20 months of establishing or acquiring the business, must be filled continuously for at least 10 months, and must be paid at the median wage level for the position.
7. Additional Requirements If Purchasing An Existing Business
If you plan to purchase an existing business:
- You must make at least one business-related visit to Ontario within 12 months from the date of registering an Expression Of Interest.
- The business being purchased must have been in continuous operation by the same owner(s) for the previous 60 months.
- Ownership of the business must be completely transferred to the applicant or any business partner.
- You must use at least 10% of your investment towards improving o expanding the business in Ontario.
- You must keep all permanent full-time employees who worked in the business before the transfer of ownership.
General Business Requirements
In addition to meeting the minimum requirements listed above. You must also meet the general business requirements listed below.
- Business Purpose: The business purpose must be to profit from active income through the sale of goods and/or services.
- Canadian and Ontario Legal Requirements: Your business must comply with all relevant federal, provincial, or municipal legal, regulatory and licensing requirements. This includes compliance with Ontario’s labour and employment standards laws.
- Permanent Business: Your business must be permanent. Project-based and seasonal businesses are not eligible.
- Business in Ontario: You must maintain a place of business in Ontario at all times.
Ineligible Types of Businesses
Before you start the process of applying you need to ensure that your proposed business is not one of the ineligible types listed below.
- Automated car wash business.
- Holding companies.
- Laundromats.
- Pawnbrokers.
- Payday loans and related businesses.
- Scrap metal recycling.
- Tire recycling.
- A business involved in producing, distributing, or selling pornography or sexually explicit products or services, or providing sexually oriented services.
- Businesses which have been previously owned/operated by current or former OINP business stream nominees.
If your proposed business will be located in the Greater Toronto Area, the following types are also ineligible.
- Existing franchises in Ontario (new foreign franchises expanding into Ontario are permitted).
- Gas stations.
- Bed and breakfasts.