Changes planned for the Ontario immigration Entrepreneur Stream are designed to make the process easier for applicants.
In proposals announced this month, the province says it will:
Ontario officials have proposed changes to two immigration regulations: 422/17 (General) and 421/17 (Approvals under the Ontario Immigrant Nominee Program and Other Matters).
The Ontario Immigrant Nominee Program (OINP) changes are open to public consultation until April 23, 2021.
Read More
Ontario Immigration Issues 19 Invitations in New Entrepreneur Stream Draw
Strong 2020 Demand For Ontario Immigration Despite Impact of COVID-19
As Immigration Levels Rise, Ontario’s Economy Forecast To Roar Back In 2021
The Entrepreneur Stream involves a series of steps before an applicant is granted permanent residency.
Successful applicants are initially awarded the temporary residency, with permanent residency dependent on the performance of the business against agreed targets.
Ontario suggests candidates thoroughly self-evaluate before registering an Expression of Interest (EOI).
Primarily, this should include making sure you meet minimum requirements, but candidates are strongly advised to visit the province to assess business opportunities and make local contacts.
If applying with a business partner, both of you must meet the minimum requirements in order to apply under the OES.
Ontario Entrepreneur Stream: Financial Requirements
1) Net Worth
2) Investment and Ownership
Ontario Entrepreneur Stream: Non-Financial Requirements
An Expression of Interest (EOI) is an online form by which the applicant states an intention to immigrate to the province of Ontario under the OES.
It must be submitted online via the OINP e-Filing Portal and must be filled out accurately and honestly.
An EOI is valid for a year from the date of receipt. If it expires, you are welcome to submit another one.
The applicant is assessed and given a score using a points system. Points are awarded based on:
This factor is further divided into two sections: Business experience must be:
Specific Experience must be:
Ontario makes periodic draws and selects registrants from the EOI pool.
Candidates who are selected may then submit an application for nomination under the OES.
Once an applicant is invited to apply, they will need to submit a business case along with the necessary forms and supporting documents within 90 days.
You must provide a review report of your personal net worth, made by a qualified vendor approved by the OINP.
There is a $3,500 application processing fee. If you are applying with a business partner, they must also pay the processing fee.
Incomplete applications will not be assessed.
Once the fee and all required documents are received, the application will be assessed.
Applicants, and their business partner if applicable, will be required to attend a mandatory interview, in person, at OINP offices.
If your application is approved, you will be asked to sign a Performance Agreement. The Performance Agreement will outline the rules that must be followed in order for you, and your partner if applicable, to be nominated for permanent residence.
Once you sign the Performance Agreement, you will be sent a Letter of Confirmation. This letter will allow you to apply for a Temporary Work Permit from the Canadian government. If you meet all the relevant criteria of the Canadian federal government, you will receive a temporary Work Permit.
Once you obtain a temporary work permit, you should move to Ontario and begin establishing your business as soon as possible. You must inform the immigration processing office of your arrival in Ontario within 7 days of arrival. Within 18-20 months of arriving in Ontario, you must submit a report showing that you are abiding by all the rules of the OES and the terms of your Performance Agreement.
If your report is approved, you will be nominated for permanent residence by the Ontario government. The holder of a nomination certificate may submit an application for Canadian permanent residence to the federal government as long as the nominee continues to abide by the performance agreement and the requirements of the OES mentioned above.
If you obtain permanent residence, you will be monitored for an additional period of 36 months to make sure that you continue to abide by all the rules of the OES and the terms of your performance agreement.
Dependants
The following dependents of key staff members can be included in an application under Ontario Entrepreneur Stream:
Discover the latest trends in Canadian immigration with a notable decline in permanent residency applications.…
Learn about the Parti Québécois' call to halt temporary immigration in Quebec, its impact on…
In a recent panel discussion at the Canada Strong and Free Network conference in Ottawa,…
Discover Saskatchewan's enhanced Immigration Services Act, bolstering protection for foreign workers, combating fraud, and facilitating…
Discover how newcomers to Canada can access a wide range of benefits and tax credits…
Discover how immigrant children in Canada outshine their counterparts, excelling in education and earning higher…
This website uses cookies.