Ontario Provincial Nominee Program
Canada welcomes the best talent and ideas from all over the world each year through provincial programs. Canadian Residency is a precious opportunity, any investor would love to achieve.
If you want reasonable cost and high rewards, Canada is a perfect choice. It is a combination of exceptional market access, an unbeatable tax environment, political stability and sound banking.
Ontario is the economic engine of Canada. Its economy was built on a foundation of traditional industries such as mining, forestry and agriculture. Nowadays, the service sector plays an important role in Ontario’s economy.
Same as other Canada’s provinces, Ontario also offers an attractive provincial program. Through Ontario’s Provincial Nominee Program, prospective immigrants with the skills and experience targeted by the province may obtain a nomination from Ontario, after which they will be eligible to apply for Canadian permanent residence.
Ontario Provincial Nominee Program
The OINP is accepting applications under the following categories:
- Human Capital Category
- Employer Job Offer Category
- Entrepreneur Program
Ontario Entrepreneur Program
This program is for foreign entrepreneurs interested in establishing a new business or buying an existing business in Ontario. It gives an entrepreneur (and up to one foreign national business partner) the chance to be nominated for permanent residency.
This Stream is a two-stage process.
- Registering an expression of interest by email,
- If the investor is invited, he must submit an online application,
- The entrepreneur and his business partner (if applicable) should attend a mandatory in-person interview in Toronto,
- If stage 1 on the application is successful, the applicant must sign a performance agreement.
- Ontario may issue a temporary work permit support letter so that the applicant can apply to IRCC for a temporary work permit,
- The investor will have 20 months to establish his business and implement his business plan and submit a final report,
- If the business meets all requirements, they will ask the applicant for documentation to make sure he is eligible for nomination for permanent residency.
What are the mandatory requirements for Ontario Business PINP?
The program requirements follow:
The applicant must have at least 24 months of full-time business experience in the last 60 months. The experience must be as a business owner or as a senior manager.
It depends on the location of the proposed business:
- Within the Greater Toronto Area – minimum net worth of $800,000 CDN.
- Outside of the Greater Toronto Area – minimum net worth of $400,000 CDN.
- If the proposed business is in the information and communications technology/digital communications sector then regardless of location, the applicant must have a minimum net worth of $400,000 CDN.
Personal investment funds and minimum equity:
It also depends on the location of the proposed business:
- Within the Greater Toronto Area, a minimum personal investment of $600,000 CDN.
- Outside of the Greater Toronto Area, a minimum personal investment of $200,000 CDN.
- If proposed business is in the information and communications technology/digital communications sector then regardless of location, a minimum personal investment of $200,000 CDN.
The applicant must control at least one-third of the equity in the business.
The entrepreneur must be actively involved in the management of the business.
This factor is based on the location of the business. Jobs must be filled continuously for at least 10 months and must be paid at the median wage level for the position.
- Inside the Greater Toronto Area, Creation of at least two permanent full-time jobs for Canadian citizens or permanent residents.
- Outside the Greater Toronto Area, Creation of at least one permanent full-time job for a Canadian citizen or permanent resident.
- If the business is in the information and communications technology or digital communications sector, regardless of location, Creation of at least one permanent full-time job for a Canadian citizen or permanent resident.
If purchasing an existing business, the applicant must meet below criteria:
- The entrepreneur has to make at least one business-related visit to Ontario within 12 months from the date of registering an Expression of Interest,
- the purchased business must have been in constant operation by the same owner(s) for the previous 60 months,
- The ownership of the business must be entirely transferred to the applicant or any business partner,
- The applicant must use at least 10% of his personal investment towards improving or expanding the business in Ontario,
- The new owner must keep all permanent full-time employees that worked in the business prior to the transfer of ownership.
Ontario is a place to test new ideas, expand innovative business and grow in a multicultural developed society.
If you plan to expand your business in a reliable environment with great access to the global market, please contact one of our advisors in UAE, Denmark or Canada, and we will do our utmost to guide you through your Canadian immigration by investment process.
Please feel free to relay your comments below if you have any questions about Canadian residency or provincial nominee programs.