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Ontario Entrepreneurial Program
The government of Ontario nominates applicants for Canadian permanent residency under the provincial nominee program. The Ontario Entrepreneurial Program is aimed at individuals from outside Canada who want to start a business or buy an already existing business in Ontario. Those who are approved for the program will be nominated for Canadian permanent residence. Once nominated, an applicant qualifies to apply for Canadian permanent residence.
Overview:
Under the Ontario Entrepreneur Program, the migration authorities of Canada’s most populated province invite registered eligible candidates to apply for a temporary employment, allowing them to establish the business in Ontario. If the terms of a Performance Agreement are met, successful applicants may then apply for provincial nomination, which is the next step on the way to becoming a permanent resident of Canada. If you have a unique business idea or you are in a position to purchase an existing business in the Ontario province, then the Ontario Entrepreneur Program could be a best option for migration.
The Ontario Entrepreneur Program leads to permanent residency in Ontario province. There is certain condition which needs to meet first. The eligible candidates must first be invited to apply before they may make an application. Invitations are issued on the basis of a unique points system.
Business Experience
They must have 24 months of full time business management experience as an owner or senior management profile in the past 5 years. If the candidate has both business ownership and senior management experience in 24 of the past 60 months, he or she must choose either the business owner or senior managerial experience.
Investment Requirement & Personal Net Worth
The applicant must have the minimum amount of own investment required by the province. This program requires a significant net worth and investment on the part of the applicant. The exact amount varies depending on the location of the proposed business and the type of business. Personal net worth includes all assets and those of the applicant’s spouse or common-law partner, if applicable, less any liabilities, including mortgages and personal debts.
Business Model
The applicant has to demonstrate the effective business plan with limited risk and economic growth in Canada. The applicant must describe how the proposed business will generate revenue and profit, and how the business will be viable and have the potential for sustained commercial success under the applicant’s management.
Economic Benefit
The applicant has to demonstrate how the business will bring a significant benefit or growth in economy of Ontario. The economic benefit includes introducing new technology, developing new products or services, increasing exports, and producing new research and development.
Job Creation
The applicant must ensure that the business must create required jobs for the Canadian Citizens. Jobs created must be paid at the prevailing wage rate and must consist of a minimum of 1,560 hours of paid employment per year.
How does it work?
There are different steps which are followed for the application under the Ontario Entrepreneur Program. The applicant must complete all the eligibility criteria and requirements set by the government of Ontario. The program operates on an Expression of Interest/Invitation to Apply. But, only eligibility to apply does not guarantee the invite. The highest ranked applicants are issued an Invitation to Apply (ITA), based on their score. If the applicant intends to apply with a business partner, the score is calculated using the lowest score of the two persons.
The invited applicants (and business partner, if applicable) are required to attend a mandatory in-person interview at OINP offices to get a better understanding of the business plan and past experience. Approved applicants (and business partner, if applicable) are required to sign a Performance Agreement, outlining the commitments required in order to be nominated for permanent resident status. Applicants who ultimately fail to satisfy the business commitments outlined in the Performance Agreement will not be eligible for nomination by Ontario, meaning that they will be unable to apply for permanent resident status.
Why choose Eminent?
- Eminent’ vision is to ease your migration process. We work 24/7 to make the complex migration process easy.
- Our associated team of attorneys needs assistance in preparing your application.
- We give personalize guidance and put every effort for the success of your application.
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DUSTIN A. MORGAN
( Canada Students Visa )
Opening up a world of opportunity.
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