OINP UPDATE: Ontario Invited TEN Entrepreneurs to Apply for the PNP
Applications for the Entrepreneur Stream are now being accepted.
The Ontario Immigrant Nominee Program (OINP) issued ten invitations to apply under the Entrepreneur Stream on January 27, 2023. Expressions of interest received by the deadline of January 20, 2023 were eligible for consideration in this round.
Invitations to apply were issued for expressions of interest with scores ranging from 137 to 162.
You do not need to contact the program if you were invited to apply. You will receive two emails with login information and application submission instructions.
If you received notification that your expression of interest was eligible for an invitation to apply but did not receive one this round, your expression of interest scored less than 137. An expression of interest is still eligible for an invitation to apply for 12 months after it is submitted to the OINP. of interest is eligible for an invitation to apply for 12 months after it is submitted to the OINP.
Here’s the free resources to know more about the Entrepreneurship stream
OVERVIEW OF Entrepreneurship stream
The Entrepreneur Stream is a program under the Canadian immigration system that allows individuals to start a business in Canada and apply for permanent residency. In order to qualify for the Entrepreneur Stream, candidates must meet certain criteria, including:
- Net worth: Candidates must have a net worth of at least CAD $600,000, which must be legally obtained and verifiable.
- Business experience: Candidates must have at least 36 months of business experience in the past 60 months, this experience can be as an owner, senior manager or a combination of both.
- Investment: Candidates must invest a minimum of CAD $200,000 in a new or existing business in Canada, and agree to actively participate in the management of the business.
- Job creation: Candidates must demonstrate that their business will create at least one full-time job for a Canadian citizen or permanent resident.
- Language proficiency: Candidates must demonstrate proficiency in English or French, which can be done through language tests such as IELTS or TEF.
- Sign an agreement to comply with conditions: The candidate must sign an agreement with the province or territory where the business will be located, agreeing to comply with the conditions under which they were nominated.
It is important to note that the Entrepreneur Stream program is not available in all provinces and territories, and the criteria and requirements may vary by province or territory. Therefore, it’s important to check with the specific province or territory that you wish to move to in Canada.
Additionally, the Entrepreneur Stream is a competitive program and it’s important to have a well-prepared business plan and a solid understanding of the Canadian business environment.
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