With Ottawa as the capital and Toronto as the largest city and economic centre of Canada, Ontario is thriving. As the most occupied province in Canada, it is home to forty percent of the country’s total population. Ontario is a business district and a popular destination for immigrants. Each of Canada’s provinces has its own provincial nomination program. Having that said, Ontario has the Ontario Immigrant Nominee Program.
What is the Ontario Immigrant Nominee Program?
This nomination program intends for foreign nationals interested in moving to Canada, particularly Ontario. It was also known as the Opportunities Ontario Provincial Nominee Program (OOPNP), which was lengthy and sort of intricate. The program is a pathway to Canadian permanent residence application through a faster process. With the right skills and experience, potential immigrants are welcome to apply through this program. There are three main categories where you may qualify for nomination: The Employer Job Offer, the Human Capital category and the Business category. In this article, we will focus on the business or entrepreneur category. The Ontario Immigrant Nominee Program has comprehensive information that needs to individual grasp for you to understand better.
Generally, for Employee Job Offer and Human Capital categories, interested applicants can begin the procedure by creating an Express Entry profile. First, you need to register your attraction to Ontario within the system. Then, the Ontario Immigrant Nominee Program will contact the person through the Express Entry and send an Invitation to Apply. It will guarantee a total of 600 points on their Comprehensive Ranking System (CRS) score.
The Business Stream or Entrepreneur Stream
Under this category, two programs were closed: the Ontario Investor in 2015 and Corporate Programs in 2019. No need to worry because people who want to put up their business can process by the Ontario Immigrant Nominee Program via the Entrepreneur Stream. Many of you might ask, why business immigration in Ontario? Simply because it is overflowing with opportunities for business owners and investors. With its dense population and multi-cultural diversity, a business will highly flourish with a good plan and marketing strategy. Your company can benefit from low corporate tax rates and overhead consumption, skilled and proficient workforce and government economic support. You can start your own idea of your business, help create a new branding in Ontario, purchase a franchise or even an existing business in the province. Once established, you as the applicant nominated for permanent residency through the Ontario Immigrant Nominee Program. As the owner, you should have at least a 33.3% share in equity and managerial control of the business. You also need to convince that you are capable of running the business and that it is profitable and can meet your projections in two years. The Immigration, Refugees, and Citizenship Canada (IRCC) assess you on this. For a more straightforward understanding, see this outline below:
|Do you need connections in the province||NO|
|Is a job offer required||No, you are employing yourself and therefore no need for a job offer|
|Express Entry profile||NO|
|Language Requirement||CLB4/NCLC4 or higher in English or French|
|Education||Post-secondary or Sufficient Business Experience for at least 3 of the past 5 years with 100% business ownership|
|Work Experience||Business Ownership or Management at least 24 months|
|Personal Investment||Minimum of 200,000 CAD; Personal Net Worth of at least 800,000 CAD(Within Greater Toronto Area) or;
at least 400,000 CAD(Outside Greater Toronto Area)
|Investment||Minimum of 600,000 CAD (Within Greater Toronto Area) or; at least 200,000 CAD(Outside Greater Toronto Area)
Minimum of 200,000 CAD if the business is in the information and communications technology/digital communications sector then regardless of location.
|Average Processing Time||15-19 months|
It may sound ambitious, but if you research, equip yourself and make sure that you qualify on this stream will make your preparation worthwhile. The Ontario Immigrant Nominee Program – Entrepreneur Stream is one of the fastest and particular processes on your way to Canada. If you wish to learn more about this program or any other immigration programs offered by Canada, you may fill out our free evaluation form through this link https://loftimmigration.com/free-assessment/business-immigration/, or you may call us at 647-495-3724. Our friendly immigration specialists will be very eager to assist you.