OINP Entrepreneur Stream

by XIPHIAS IMMIGRATION migration executive

This program is defined for those who intend to set up their business in Ontario. It could be a start-up or could be an investment in a running business there. This stream is part of the Ontario Immigrant Nomination Program. This program earns the Permanent residency in Canada for the entrepreneur. He needs to however prove that he intends to live in Ontario and participate in the everyday working of the business. This program can be applied alone or along with a business partner.

TO qualify for this program –

1.       The applicant should have a minimum of 2 years of business experience or should have experience as a business manager serving in a huge corporate

2.       Applicant should be between 25 years and 49 years of age

3.       He/she should be able to achieve a CLB of 5 in each of the language band.

4.       The applicant should have required education and be able to prove the same

5.       The applicant should be able to prove his net-worth of CAD $800,000 if investing in Greater Toronto Area or CAD $400,000 if the business is located outside Greater Toronto Area. If the business is in the ICT/Digital Communications sector, then the applicant should have the Net-worth of CAD $400,000 irrespective of the location.

6.       The entrepreneur needs to invest a minimum of CAD $600,000 if investing in Greater Toronto area or CAD $200,000 if investing outside Greater Toronto Area.

7.       He should own a minimum of 33.33% of business

8.       The investment should create jobs for atleast 2 permanent residents of Ontario or citizens there.

Most of the Canada Investment Immigration programs through Provincial Nominee Program follow this protocol.

The other important factor that the immigrant aspirant needs to complete is the mandatory visit to Ontario. He/she needs to take a business tour to Ontario to conduct a thorough research in the business and the location there. This is termed as the exploratory visit.

This program is based on Points system termed as OINP Entrepreneur Stream Points System. Each of the applicants can achieve upto 200 points. This system is categorized in to 3 broad categories labeled, human capital factors, investment factors and business concept.

Under Human Capital factors, the businessman will earn points based on business management experience, past specific experience, language ability and education level of the business man. The net total points earned under this category are 80.

As part of investment factors, the businessman will be able to earn points based on personal net-worth, amount of investment and on business related visit to the province. The total number of points earned under this category is 46.

The final category of points is labeled as Business Concept. The total number of points achievable under this category is 70. The applicant will be awarded points based on the business model, market research, the sector and economic benefits they would earn, the manner in which the investment is allocated, business location and job creation.

OINP also invites skilled professionals into the province through their OINP Express Entry Program.

The applicant will be submitting their Expression of Interest (EOI) first. Based on the initial screen, the application will be filtered for further processing. The applicant will receive an Invitation to Apply after the screening which will be based on the ranking system. The EOI will remain in the pool for 12months.

After the final interview, they need to enter into a Business Performance agreement with the Ontario government.

Investing in the right business is important and hence the aspirant Entrepreneur will need to work with the right immigration firm to relocate to the province. It is important that they work with an certified international investment immigration firm. 

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Created on Dec 11th 2020 05:27. Viewed 285 times.

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