People who are planning to buy an existing business or create a new business in Ontario can immigrate to Canada through the Entrepreneur Stream of the provincial program.
The Entrepreneur Stream allows getting permanent residency in Canada and is intended for entrepreneurs who are willing to invest in an existing or new business in the province of Ontario.
Business Requirements
The goal of the business should be making a profit from the sale of goods and services, and not getting interests, dividends or capital gains.
The following types of business are not eligible under the Entrepreneur Stream:
- Automated car wash operations
- Businesses which have been previously owned by other OINP business stream nominees
- Holding companies
- Laundromats
- Pawnbrokers
- Payday loan and related businesses
- Scrap metal recycling
- Tire recycling
If the business will be situated in the Greater Toronto Area, the following types are also ineligible:
- Existing franchises in Ontario
- Gas stations
- Bed and breakfasts
Business Owner Requirements
To be able to immigrate through this stream, the business owner must meet the following requirements:
- Have at least 36 months of full-time experience in the last 60 months as a business owner or senior manager
- Have at least C$1.5 million of net worth (or C$800,000, if the business is located outside the Greater Toronto Area or is related to IT). Income from passive investments is also eligible as net worth (for instance, income derived from securities of a mutual or joint investment fund)
- Invest at least C$1 million (or C$500,000, if the business is located outside the Greater Toronto Area or is related to IT). Passive investments are not suitable for this purpose
- Create at least 2 full-time jobs for Canadian permanent residents or citizens
- Have a Canadian Language Benchmark (CLB) score of 4 or higher for English or French in all four language abilities (reading, speaking, listening, writing) and provide language test results (TEF or TCF for French and IELTS or CELPIP for English)
- Make at least one business visit to Ontario within 12 months from the date of registering an Expression of Interest (for those who purchase an existing business)
Find out about other ОINP streams in the article “Immigration to Ontario“.