What Is the Application Process of the Ontario Entrepreneur Stream?
If you are applying for the Entrepreneur Stream, then you will receive temporary residence initially which can be converted to permanent residence based on whether the business was able to achieve the targets set in the Business Performance Agreement.
The application process involves the following steps:
Step 1: Meet the Eligibility Requirements:
Ensure that you meet the requirements for the stream and submit an Expression of Interest (EOI). This stream has different requirements regarding the applicant’s net worth, investment, ownership, work experience, business performance, language proficiency and connection to the province.
Step 2: Submit a completed Expression of Interest (EOI):
You must submit an EOI online to express your intention of immigrating to Ontario through the Entrepreneur Stream. This EOI is valid for a year, and you can submit another one if this expires. Your application will be assessed based on the following factors:
The applicant must have experience of owning at least 33.33% of a business in which they were either actively involved in its daily operations or held a senior management position for 2 years. Having less than 2 years of business management experience makes you ineligible for this stream.
- Experience Factors
- Investment Factors
- Human Capital Factors
Step 3: Invitation to Apply:
Ontario conducts regular PNP draws to nominate eligible applicants from the EOI pool for provincial nomination and ultimately permanent residency.
Step 4: Applying for Provincial Nomination:
Once you receive your invitation to apply for the provincial nomination, you will be required to submit a business case along with all the required supporting documents requested within 90 days. This includes a review report made by a qualified vendor of your net worth and the required application processing fee. If your application is incomplete, then it will not be processed and will likely be denied or returned.
Step 5: Assessment of Application:
Once you have submitted your application with the required documentation, it will be assessed. Based on your eligibility, you will be required to attend an in-person interview appointment at the OINP offices.
Step 6: Signing a Business Performance Agreement:
If your application is successful, you will be required to sign a Business Performance Agreement that will highlight the business goals you must meet to gain permanent residence.
Step 7: Receiving a Temporary Work Permit:
Since you won’t receive permanent residence until you meet the targets set in the Business Performance Agreement, you must obtain a temporary work permit to establish your business in Ontario. You will receive a letter of support for a temporary work permit after you sign the Business Performance Agreement. This letter will help you obtain a temporary work permit from the federal government.
Step 8: After Arrival in Canada:
After you have received your temporary work permit, you must move to Ontario to establish your business. You must inform the immigration office within 7 days of your arrival in Canada. You will be required to submit a report in 18-20 months after your arrival to show that you have abided by all the rules and conditions of your Business Performance Agreement.
Step 9: Receiving Permanent Residence:
If your report is approved by the OINP officials, then you will be nominated for permanent residence by the government. This means that you will receive a provincial nomination that authorizes you to apply for permanent residence to the federal government.
Step 10: Application for Permanent Residence:
Receiving permanent residence does not mean that you will be free to do whatever you want. You will be monitored for an additional 36 months to make sure that your business still abides by the terms of your performance agreement.