Ontario Entrepreneur Stream Process
Jaylin is a successful Belizean merchant. Despite being very young, her import-export business generates more than $5,000,000 in annual revenue. Consequently, Jaylin intends to immigrate to Canada to expand her business. Of course, settling in one of the best countries in the world is part of the plan. Jaylin has heard about the Ontario Entrepreneur Stream program and how complicated the process is. However, she wants to know more.
Ontario is the most populated province in Canada. With a population of 14.7 million, Ontario accommodates 39% of Canadians. Considering Ontario GDP to be number one in Canada, it is a magnet for investors and business owners. However, if you want to immigrate to this beautiful province as a business person, you need to know the process.
An Overview of Ontario Entrepreneur Stream
If you intend to immigrate to Ontario as an entrepreneur or a job creator, you need to consider the following:
- Meet the minimum requirements: business ownership or management experience, net worth, etc.
- Have a business concept that is appealing to the province.
- Go through the process.
- Become a permanent resident of Canada.
In this post, you learn about the process of this Stream (i.e. item number 3 above).
Stage one: Ontario Entrepreneur Stream process
The first stage is to secure a work permit in Canada. Of course, this will help you start your business and settlement. Thus, you will eventually qualify for permanent residency. The following flowchart shows the steps of stage one:
(A) Initial preparations
You must make sure you meet the criteria. Also, collect all the documents beforehand. Of course, you do not need to submit any documents for now. However, you will have minimal time to submit the documents later in the process. Therefore, it is in your best interest to collect the documents before taking action. For example, consider these items:
- Educational Credential Assessment: You must ask one of the following organizations to assess your credentials for immigration to Canada.
- Comparative Education Service – University of Toronto School of Continuing Studies
- International Credential Assessment Service of Canada
- International Qualifications Assessment Service
- World Education Services
- International Credential Evaluation Service
- Medical Council of Canada (physicians only)
- Pharmacy Examining Board of Canada (pharmacists only)
- Take an acceptable language test:
- CELPIP: Canadian English Language Proficiency Index Program (Only CELPIP General is acceptable. Don’t take General-LS)
- IELTS: International English Language Testing System (Only IELTS General is acceptable. Don’t take IELTS Academic)
- TEF Canada: Test d’évaluation de français
- TCF Canada: Test de connaissance du français
- Collect personal financial documents:
- Official appraisal of your properties
- Title deeds
- Documents reflecting your investments
- Bank account statements
- Other financial records related to Ontario Entrepreneur Stream process
- Collect business ownership and financial documents
- Ask for work and management contracts and reference letters
- Make sure you have personal documents handy, such as your passport and marriage certificate
- Visit the province: Of course, if you intend to purchase an existing business, this visit is mandatory.
- Work on your business concept and make sure it meets the requirements of the province
Of course, you may hire a professional team and ask them to assist you in taking care of this preliminary but crucial step.
(B) Expression of Interest
When you have all the documents in place, you may initiate the process. Of course, the first step is to create an online account and submit your Expression of Interest (EOI) to the province. Consider reading the following article for more information about the EOI point system.
(C) Invitation to Apply (ITA)
The province runs a round of invitation every few months. Nonetheless, they invite applicants who receive the highest EOI score. Of course, when you receive the ITA, you have 90 days to complete your application.
(D) Document submission
At this moment, you need to send your financial documents to a qualified vendor for third party verification. However, Ontario accepts reports from the following organizations only:
ATTN: Dennis Dai
300-111 Richmond Street West
M5H 2G4 Tel: 647-775-1773 [email protected]
ATTN: Immigration Verification Services
333 Bay Street, Suite 4600
M5H 2S5 Tel: 416-777-3887 [email protected]
|Deloitte Forensic Inc.
ATTN: Guillaume Vadeboncoeur
100 Queen Street, Suite 1600
K1P 5T8 Tel: 613-236-2442 [email protected]
While they are evaluating your financial documents, you need to prepare the rest of the documents to upload them. Eventually, you will upload all the documents. Of course, you also need to pay a processing fee of $3,500 at this time.
(E & F) Documents verification and a mandatory interview
The immigration officers of Ontario review your documents and invite you to an interview. This is a crucial step in your process. Of course, the interview will be in person.
(G) Performance agreement
If everything goes well, you will sign a performance agreement with the province. Of course, this means you agree to run your business concept in Ontario the way you promised. In return, the province issues you a support letter for a work permit.
(H) Applying for a work permit
Upon receiving the provincial support letter, you may apply for a work permit. However, the federal government has the authority to issue that work permit. Therefore, you need to prepare the necessary documents and submit the application to IRCC. Of course, depending on your circumstances, you may apply before entering Canada, at a port of entry, or after entering Canada. However, consider reading the following article as well:
Stage two: Ontario Entrepreneur Stream process
If everything goes well in stage one, you will receive a work permit. However, you need to take a few more steps to secure your permanent residency. The following flowchart shows the remaining steps.
(I) Work permit for you
If you receive a work permit, you may stay in Canada and initiate your business. Of course, if you have purchased an existing business, you need to take over its management. Nonetheless, your spouse or common-law partner and your dependent children may accompany you to Canada, upon approval by IRCC.
(J & K) Build your business and complete investment
At this stage, you need to fulfill your promises. Of course, you need to take over the management of the business and transfer all the funds to it. However, you have only 20 months to make all of this happen. When you believe you have met all the requirements under your performance agreement and business plan, contact Ontario for the next step.
(L & M) Approval by the province and certificate of nomination
Ontario immigration authorities visit your business and review your documents. If you convince them you have met all the requirements, they will issue you a certificate of nomination. Of course, this certificate assists you in applying for a permanent residency in Canada.
(N) Apply for PR
Upon receiving the certificate of nomination, you may apply for a PR. Of course, you may include your dependant family members in the application. IRCC considers the following to issue you the PR status:
- You can establish yourself in Canada economically.
- You or your family members are not inadmissible to Canada.
(O) Become a permanent resident
The Ontario Entrepreneur Stream process is complicated.
As you can see, the Ontario Entrepreneur Stream process is cumbersome and lengthy. Consider hiring a licenced professional to assist you.
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.
If you wish to visit or move to Canada, please fill out our free assessment form. We will review the form for free, but we will contact you only if we find an opportunity for you. Alternatively, you may book a consultation session. Consultation sessions are not free, but you will receive formal advice from a licenced practitioner.
This article provides information of a general nature only. It may no longer be current. It does not give legal advice. Do not rely on it as legal advice or immigration advice. We cannot be held responsible for the content of these articles. If you have specific legal questions, you must consult a lawyer. If you are looking for immigration advice, book an appointment. All the characters in the articles are fictional, unless otherwise clearly stated. Any resemblance in names, dates, and places (whether individuals, regions or countries) is coincidental.
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