Ontario is a province located in central Canada. It is the province which houses 2 of most important cities in Canada – Toronto and Ottawa. The province has more than 250,000 fresh water lakes. The famous Nigeria falls is also part of this province. Ontario provides an inroad into the province through many pathways which addresses the needs of Skilled Immigrants, students and business immigrants. Best way to work on this program is to join hands with Immigration Consultants in India who are famous for international Investment propositions.
Ontario is tied up with Canada Skilled Immigration Express Entry system for one of its programs to choose the right immigrants into the province. Ontario offers 3 pathways to relocate to the province. One of it is the Ontario Entrepreneur Program which is part of the Ontario PNP or OINP. For an individual to be eligible under this program, he should be a foreign Entrepreneur who shows interest in relocating to Canada and settling in Ontario. OINP is one of the famous Canada Provincial Nomination Program.
Ontario’s Entrepreneur Stream –
Eligibility Criteria –
It is important to get oneself evaluated before proceeding to submit application for this program.
- Financial Requirements –
The applicant should be able to invest a minimum of CAD $ 600,000 in a business in Ontario, if the business is within Greater Toronto Area.
If the business is outside Greater Toronto Area, then the minimum investment amount will be CAD $200,000
The investor should own a minimum of 33.33% share in the business
The investor should be ready to participate in day to day activities of the business
IF the investment is being made in either ICT or digital communications then the business investment amount required is CAD $200,000
The investor should be able to prove his personal net worth of CAD $800,000 if investing in Greater Toronto Area.
The investor should be able to prove his personal net worth of CAD $400,000 if the investment is made outside Greater Toronto Area.
IF the investment is being made in either ICT or digital communications then the investor needs to prove their personal net-worth to a tune of CAD $400,000
- The investor should be able to prove his business experience for atleast 60months just prior to submission of application
- The investor through his investment should be able to provide job opportunities for at least 2 locals
- The investor should make a business or exploratory visit to Ontario with an intention to study the market and the local area for business purpose. This should happen within 12 months right before submission of application.
- The investor should achieve Canada Language Ability of 4 in either English or French
- The investor should live and manage the business for atleast 75% of the period
Process –
- The investor should submit their Expression of Interest online. Such an EOI is valid for a period of 1 year.
- The investor should submit the required documents as would be required
- The investor should be able to prove his experience and submit documents relevant for the same.
- Ontario makes draws. Selects immigrants from the EOI pool. Such selected candidates need to submit their application for nomination
- The investor will have to submit their business case along with necessary forms and supporting documents within 90 days of receiving the Invitation
- This must accompany with your personal networth review report.
- Once the application is processed and is assessed, the applicants will need to attend an in-person interview
- Once this gets cleared, the investor should sign a Performance Agreement.
- Once the performance agreement is signed, the investor will apply for temporary work permit
- With the work permit, the applicant will move to Ontario and finish setting up the business and start running it. This should complete within 20-24 months of the investor arriving in Canada.
- Post that the entrepreneur should submit their report. If the report is satisfactory, the investor gets nomination from Ontario province.
- With the nomination in hand, the immigrant investor can proceed to apply for Canada permanent residency.
The investor can bring his family on this visa. Children younger than 22years of age and are dependents will get their permanent residency in Canada along with the investor.
It is best to work with ICCRC Registered Immigration Consultants to relocate to Ontario for successful investment in Ontario and to successfully obtain permanent residency.
Source: https://www.apsense.com/article/ontario-entrepreneur-stream-ontario-nominee-program.html
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