Ontario Business Category- Entrepreneur Stream

Overview:

Designed to help 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.

Criteria:

1) Ineligible Types of Business:

List of ineligible types of businesses in the Greater Toronto Area (GTA):

  •  Existing Franchises in Ontario (new foreign franchises expanding into Ontario are permitted)
  •  Gas Stations
  •  Tire Recycling
  •  Scrap Metal Recycling
  •  Pawnbrokers
  •  Bed and Breakfasts
  •  Holding Companies
  •  Laundromats
  •  Automated Car Wash Operations
  •  Pay Day Loan and related businesses
  •  Businesses which have been previously owned/operated by current or former OINP business stream nominees

List of ineligible types of businesses outside of the GTA:

  •  Tire Recycling
  •  Scrap Metal Recycling
  •  Pawnbrokers
  •  Holding Companies
  •  Laundromats
  •  Automated Car Wash Operations
  •  Pay Day Loan and related businesses
  •  Businesses which have been previously owned/operated by current or former OINP business stream nominees

 

2) Eligibility Criteria:

Minimum Requirements

Experience:

  • 3 years of operation in last 5 years
  • As a business owner OR senior manager

Net Worth:

  • 5 million in GTA; 0.8 million outside GTA
  • 8 million in ICT (Information Communication Technology business /Digital Communications Sector

Personal Investment Funds:

  • 1 million in GTA; 0.5 million outside of GTA
  • 5 million in ICT (Information Communication Technology business /Digital Communications Sector

Active Involvement:

  • Minimum Equity: 1/3
  • Capital Investment Purpose: No deriving interest, dividends or capital gain
  • Job Creation: Two permanent full-time jobs
  • Business-Related Visit

General Requirements for Business:

  • Make profit from active income
  • Comply with laws
  • Permanent business in ON
  • The third party investors must be a Schedule I or II bank or an institutional investor.
  • A Business plan be submitted

Purchasing an Existing Business:

  • Continuous operation by the same owner in the past 6 years
  • Must completely transfer ownership
  • Not have been previously owned/operated for OINP nominees
  • Preserve all existing permanent full-time jobs and create two new permanent full-time jobs.
  • Intention to grow the business in your business plan.

Nomination Requirements：

  • Language: CLB 4 or above
  • Residency Requirement: 9 months our of the year
  • Active management: Involved in day-to-day activities.