How to Succeed in The Ontario Immigrant Nominee Program – Entrepreneur Stream.

Although the Ontario government has paused this program, let’s see how one can apply for it should the new Canadian government revive it with the province.

Who Can Apply for the OINP-Entrepreneur Stream?

Foreign entrepreneurs and investors who want to start a business in Ontario and meet the following requirements. The Ontario Entrepreneur stream is for experienced business owners or senior managers who want to live in Ontario:

• have at least 2 years of business ownership or senior managerial experience in the past 5 years, especially in high-growth businesses. To qualify, applicants must have at least 24 months of full-time business experience in the last 60 months.

• After accounting for liabilities, the personal net worth should include all assets, along with those of their spouse or common-law partner. To qualify for the Entrepreneur Stream, personal net worth must be legally obtained and verifiable.

• have a net worth of $400,000+

• $800,000+ for those planning to locate their business within the Greater Toronto Area

• have a post-secondary educational diploma;

• have language skills at CLB level 4 or higher;

• plan to relocate to Ontario and spend at least 75% of the time per year in Ontario.

Minimum Requirements for Applicants and Businesses

To be eligible for the Ontario Entrepreneur Stream, applicants must meet specific requirements for themselves and their proposed businesses. Applicants must have at least two years of business ownership or senior managerial experience within the last five years, especially in high-growth companies, showing high growth business experience. They must also have a personal net worth of at least $400,000, or $800,000, if the business is located within the Greater Toronto Area (GTA). This net worth must be legally obtained and verifiable.

For the proposed business, a minimum investment of $200,000 is required if it is outside the GTA or in the ICT/Digital Communications sector. The minimum investment rises to $600,000 if it is within the GTA. The business must also create at least one permanent full-time job for Canadian citizens or permanent residents outside the GTA or in the ICT/Digital Communications sector and two jobs if it is within the GTA.

What is the Minimum Personal Investment for the OINP-Entrepreneur Stream?

• At least $200,000 outside of the Greater Toronto Area (GTA) or in the ICT/Digital Communications sector;

• At least $600,000 inside the GTA.

• Create at least 1 permanent full-time job for Canadian citizens or permanent residents outside of the GTA or in the Information and communications technology/Digital Communications industry

• 2 jobs if the business is in the GTA. The proposed business must create at least two permanent full-time jobs to be eligible for the Entrepreneur Stream.

• A minimum eligible personal investment is required, which must come from the candidate’s net worth and cannot be supplemented by third parties.

• A mandatory exploratory visit to Ontario in the last 12 months if purchasing an existing business.

How does the OINP-Entrepreneur Stream work?

This program has several stages; foreign entrepreneurs first get work permits and, later, permanent residence. Language proficiency equivalent to Canadian Language Benchmark (CLB) 4 is required at the time of Nomination.

Applicants must be prepared to provide evidence of their qualifications and business plans to be considered for the OINP-Entrepreneur Stream. A mandatory in-person interview at the OINP’s offices will assess the applicant’s business model, business plan, and previous experience, including personal net worth points criteria. The final report must show that candidates have met all business commitments outlined under the Performance Agreement.

What are the steps in the Expression of Interest for the OINP-Entrepreneur Stream?

There are several steps involved in the program:

1. Submit your Expression of Interest;

2. Submit your application once selected from the pool. If invited to apply, candidates must submit all required information and documents within 90 days;

3. Attend an interview with a responsible Officer;

4. Sign a Performance Agreement with Ontario;

5. Apply for a Work Permit to come to Canada;

6. Establish your business in Canada and perform the terms of the Performance Agreement within 20 months;

7. Apply for a Provincial Nomination;

8. Once you get the Provincial Nomination, apply for permanent residence. An expression of interest (EOI) is not an application for permanent residence under the Entrepreneur Stream unless invited. Applicants can apply individually or with a business partner. If applying with a foreign national business partner, both individuals must meet the eligibility criteria, attend mandatory interviews and fulfill investment and experience requirements. There is no fee to register an Expression of Interest (EOI) for the Ontario Entrepreneur Stream. EOIs not selected within 12 months will be removed from the selection pool.

EOI Scoring Factors and Breakdown of Points

The Expression of Interest (EOI) scoring system is a key part of the Ontario Entrepreneur Stream. It evaluates applicants based on their business concept, investment and human capital. The EOI system allocates total points available across these three categories to assess the potential success and impact of the proposed business, including human capital factors. The maximum number of points for human capital factors is 80. EOIs will be ranked against each other, and only the top candidates will be invited to apply.

• Business Concept: This category evaluates the viability and innovation of the proposed business. Points are awarded based on the clarity and feasibility of the business plan, market research and the potential for job creation and economic impact.

• Investment: Points in this category are based on the personal investment the applicant is willing to make. Higher investments can earn more points, demonstrating the applicant’s commitment and financial capability. The maximum number of points for investment factors is 46 points.

• Human Capital: This category assesses the applicant’s qualifications, including business ownership or senior managerial experience, education, language proficiency and adaptability. Strong qualifications in these areas can significantly boost the applicant’s EOI score.

Business Location and Job Creation

The proposed business should be located in Ontario, specifically in the Census Metropolitan Area (CMA) of Toronto and the Greater Toronto Area. This ensures the business contributes to the local economy and community. The applicant must create at least 2 permanent full-time jobs for Canadian citizens or permanent residents. These jobs must be maintained for at least 10 months to meet the program’s requirements. Candidates must create at least 2 permanent full-time jobs for Canadian citizens or permanent residents within the first 20 months of establishing their business.

Creating jobs not only fulfills the program’s criteria but also demonstrates the business’s potential to positively impact the local labour market and economy, providing a significant economic benefit. This is crucial for the application’s success and the business’s long-term sustainability, ultimately leading to Canadian permanent residence.

How Long Does the OINP-Entrepreneur Stream Take Including the Mandatory In-Person Interview?

• Stage 1: From registering your interest to a work permit in Canada – 1 year on average;

• Stage 2: From work permits to getting a Provincial Nomination – 2 years on average;

• Stage 3: From Nomination to permanent residence – 1.5 years on average.

It will take you around 3-4 years to become a permanent resident. While working on your permanent residence, you can manage the day-to-day operations of your new business in Canada, live with your family, send your kids to school, and enjoy all Canada has to offer.

Performance Agreement

Upon approval of the application, the applicant and their business partner, if applicable, will be required to sign a Performance Agreement with the Government of Ontario. This agreement outlines the specific commitments and performance metrics the applicant must meet to be nominated for permanent resident status.

The Performance Agreement will include:

• Business Commitments: Detailed descriptions of the business activities, investment amounts and job creation targets.

• Performance Metrics: The business must achieve Specific goals and benchmarks within set timelines.

• Timelines: Clear deadlines for meeting the commitments, including creating and maintaining jobs for at least 10 months.

The applicant must adhere to all commitments outlined in the Performance Agreement. Additionally, a Final Report must be submitted to the Ontario Immigrant Nominee Program (OINP) between 18 and 20 months after arriving in Ontario. This report will demonstrate that all commitments have been met, ensuring the successful applicants’ eligibility for permanent resident status.

How to Increase Your Chances for Success in the OINP-Entrepreneur Stream?

• Have a solid business plan that identifies and describes your proposed business activities in Ontario;

• Provide evidence of market research and effective market entry strategy;

• Demonstrate export trade business experience to enhance your qualifications and earn additional points;

• Start a business or purchase an existing business in key economic sectors:

• Key sectors are: aerospace; automotive; chemical & biochemical; cleantech; financial services; food & beverage manufacturing; forestry; industrial automation & robotics; information technology; life sciences; mining; tourism;

• Highlight investment plans in the digital communications sector regardless of geographic location;

• Invest more than the required minimum investment amount;

• Create 5+ jobs in Ontario;

• Visit Ontario at least once in the year before you submit your EOI to earn points. Multiple visits will add more points to your application;

• Improve your language skills. To be in the EOI pool, you must score at least 37 out of 74 points in the business concept.

Sobirovs Law Firm knows OINP inside out. We have helped our clients with OINP and other business immigration programs, including foreign franchises expanding into the country. We can help you, too! Book your appointment today.