OINP Entrepreneur Stream

Requirements for Business and Candidates

The main condition is a viable business that will benefit the province as a whole or its individual regions. Its main goal should be to make a profit, the company must comply with laws at all levels, including labor laws. The business should be permanent and should be based in Ontario.
In addition, the following mandatory requirements are imposed on the main applicant and one foreign business partner who can also apply for permanent residence.

1. Work experience. The applicant should be the owner (of at least one third) or manager of a business for at least 24 months out of the last 60.
2. Minimal personal capital. Not less than CAD 800 thousand, if the declared business is located within the Greater Toronto, and not less than CAD 400 thousand - outside of it. For ICT companies - from CAD 400 thousand regardless of the location.
3. Personal investments. It is necessary to control at least one third of the declared business. At the same time, personal investments in business must be at least CAD 600 thousand within the Greater Toronto and at least CAD 200 thousand - outside the Greater Toronto or in an ICT company.
4. Active participation. The investor must actively participate in the management of the business on an ongoing basis.
5. The purpose of the investment. The main purpose of the invested capital should be to make a profit. It must not generate interest, dividends, or capital gains
6. Creation of new job positions. The business should create and maintain at least two permanent job positions for Canadian citizens or permanent residents, if the company is located in Greater Toronto, and one job position outside of it or in an ICT business. The salary of employees should be at the average level for the corresponding position.
7. When purchasing an existing business:

• the investor should come to Ontario at least once for  business purpose within 12 months from the date of registration of the “expression of interest”;
• the business being acquired should have had one owner within the previous 60 months;
• the ownership of the business must be fully transferred to the applicant or his business partner;
• at least 10% of the applicant's personal investment must go to improve or expand the business in Ontario;
• it is necessary to maintain all permanent job positions and create at least one or two new ones (depending on the region).

Types of business that do not give the right to obtain a permanent residence permit:

• automated car washes;
• holding companies;
• laundries;
• pawnshops;
• payday loans and similar organizations;
• scrap metal processing;
• recycling of tires;
• pornography and the sex industry;
• companies previously owned or operated by current or former OINP business stream nominees.

In the Greater Toronto area, the following businesses are additionally excluded:

• existing franchises in Ontario (new foreign franchises are allowed);
• gas stations;
• accommodation of guests on a “bed and breakfast” basis

Documents

The documents are submitted online in the form of scans and copies. This is done at the stage of your  application, after receiving a positive response to an Expression of Interest (EOI). You will need to submit a large package of documents proving the value of the applicant and his business for Ontario, which served as the basis for the approval of your candidacy.

Work experience

Your CV is a  document that provides information about your education, business and work experience.

In addition to it, you will need documents for the last five years.

For top managers of companies:

1. Recommendation letters  from all employers.
2. Description of the companies you worked in.
3. Copies of all employment contracts. The last two payment documents from the current place of employment

For business owners:

1. Three letters of recommendation from current or past business contacts (sellers, suppliers, or customers) - with contacts, deadlines, and details of interaction.
2. Incorporate records for each company owned.
3. Certificates of registration of companies with tax authorities.
4. Proof of ownership of shares for each company.
5. A list of employees including their salaries, hours worked and proof of payments.
6. Declarations or receipts of corporate income tax payments .
7. Financial statements of your business.
8. Articles of association of your business.

Specialized work experience

You will need these documents if you have declared points for fast business growth or experience in export companies to the EOI.

• For company executives: a letter of recommendation from the employer and supporting documentation.
• For business owners: financial reports showing a 20% or more  growth of revenue for two consecutive years, or documentation confirming that at least 20% of the company's goods or services went to the foreign market, or documents confirming that you have the necessary experience and skills for the proposed business.

Investment documents

1. A third-party verification report on your personal capital and legal basis  of your savings.
2. Proof of business visits to Ontario - if you are buying an existing business.
3. A business plan that matches the parameters that you specified in the EOI.
4. Proof of business ownership - in case of purchasing an existing business.
5. Documents of payments made to all employees for the last tax year (if applicable).

Confirming human capital assets

It is required if you have claimed points for these categories in the EOI.

• Education: Canadian diploma, certificate or proof of a scientific degree. For foreign diplomas, an opinion on their compliance with the Canadian educational system (educational attestation) is required.
• Language skills: test scores in English and / or French.

Personal documents

1. Photo that meets passport or visa requirements.
2. Passport: copies of all pages. If you have had your current passport for less than two years, attach copies of all pages of your previous passport.
3. Passports of all family members.

If the documents are not in English or French, a copy of the original document and a certified translation will be required.

Rights and Obligations

Permanent residents (PR) of Canada have the right to:

• receive most of the same social benefits as Canadian citizens, including health insurance;
• live, work or study in Canada;
• apply for Canadian citizenship.

They are obliged to:

• pay taxes;
• comply with all Canadian laws at the federal, provincial and municipal levels.

Permanent residents may not:

• vote or run for political office;
• take some jobs that require a high level of safety.
• In order to maintain permanent resident status, you must have stayed in Canada for at least 730 days in total over the past five years.