Ontario Entrepreneur Stream Minimum Requirements
Faiz is the general manager of a large corporation in South Sudan. However, he is considering moving to Canada. Of course, his destination is Toronto. Consequently, Faiz is wondering what the minimum requirements for Ontario Entrepreneur Stream are. In fact, he wants to move to Ontario and no other provinces in Canada.
Ontario, with an area of more than 1,000,000 square kilometres, accommodates 14.7 million people. Consequently, many newcomers to Canada prefer to settle in Ontario. If you are a successful business owner or senior manager, you could immigrate to Canada if you fit the criteria.
Minimum target requirements: Ontario Entrepreneur Stream
You could target any of the following regions or sectors:
- TA: Toronto CMA or the Greater Toronto Area (GTA)
- TB: Outside Toronto
- TC: Information Communications Technology or Digital Communications (ICT/DC) sectors
If you pick ICT/DC, then regardless of the geographical destination, you need the minimum requirements of “Outside Toronto.” Of course, GTA imposes the harshest conditions on the applicants.
Minimum experience requirements: Ontario Entrepreneur Stream
Ontario only accepts experience as a senior manager of a business or as a business owner. Regardless, they only consider your experience in the past 60 months. However, you may only pick one of the two options (i.e. senior management or business ownership). You need to have at least 24 months of experience in the past 60 months.
As a business owner, you need to own at least one-third of the business back home and also have an active role in the operation of the company. Therefore, a mere investment in the firm does not count. In fact, they want to see your involvement in the day-to-day operations of the business.
As a senior manager, you must have a say in the main decision-making area of the business. For example, we could refer to areas such as research and development, human resources, finance, sales, marketing, distribution or operations. Of course, your involvement in the day-to-day operations of the business is mandatory.
Minimum net worth requirements: Ontario Entrepreneur Stream
Your net worth needs to meet the following minimums.
- TA: $800,000
- TB: $400,000
- TC: $400,000
Just as a reminder, TA means GTA, TB means outside GTA, and TC means ICT/DC businesses. Of course, net worth means all your assets minus all your liabilities.
Minimum investment requirements: Ontario Entrepreneur Stream
You need to consider the following minimum investments in Ontario:
- TA: $600,000
- TB: $200,000
- TC: $200,000
Of course, the minimum investment does not include working capital, wages paid to the applicant and their family members and cash or cash equivalents.
Minimum equity requirements: Ontario Entrepreneur Stream
You must own at least one-third of the target business in Ontario. Regardless, you also need to become an active manager of the target business. Your investment cannot primarily target capital gains, dividends or deriving interest.
Minimum job creation requirements: Ontario Entrepreneur Stream
If you are targeting TA, you must create at least two full-time job positions for Canadians or permanent residents of Canada. However, if you are targeting TB or TC, the minimum job creation is one full-time job.
An exploratory visit to Ontario
Those candidates who intend to purchase an existing business in Ontario must visit the province at least once. Of course, the visit must occur within the past 12 months of submitting the Expression of Interest.
Are the minimums enough?
The simple answer is “no.” Since you are competing with other candidates, you must surpass the minimums to stay competitive. Of course, the higher your EOI score, then the higher your chances of selection by the province will be. Read the following article for more information.
What if I have a business partner?
You may have one foreign business partner who accompanies you to Ontario. However, both of you need to meet the minimum requirements independently.
If you are not familiar with the process of Ontario Entrepreneur Stream, consider reading the following article:
OINP Entrepreneur points calculator
We have designed a proprietary calculator that helps you estimate your EOI score. The following image takes to the calculator page.
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