The Ontario Immigrant Nominee Program’s (OINP) Entrepreneur Stream helps individuals from countries outside of Canada to implement a new business idea or buy an existing business in Ontario. It also offers entrepreneurs the opportunity to be nominated for permanent resident status once their business has been successfully established in Ontario.
Requirements of the Program
- Experience: At least 24 months of full-time business experience in the last 60 months.
- Net Worth: In case the proposed business will be located within the GTA, you must have a minimum net worth of $ 800,000. Outside GTA or ICT / Digital Communications Sector minimum net worth of $400,000.
- Personal Investment Funds For a proposed business located within the GTA, a personal investment of $600,000 is MUST. For proposed business outside the GTA or ICT / Digital Communications sector, minimum personal investment of $200,000.
Expression of interest
An expression of interest (EOI) is the first step. It is not an application. There is no fee to register an EOI.
The EOI is comprised of two components, for a maximum EOI score of 200 points:
- Self-Declared Score (126 points)
- Business Concept Score (74 points)
OINP will assess and score your Business Concept. Your business concept will need to score at least 37 of the available 74 points (50%) to be placed in the EOI selection pool.
The maximum score available is 200 points however the higher scores of the candidate shall decide his placing in the pool.