Ontario is Getting Ready to Launch the Entrepreneur Pilot
The Ontario Immigrant Nominee Program (OINP) announced the Toronto Business Development Centre (TBDC) has been selected to deliver the Entrepreneur Pilot. But, what is this pilot about?
- Background
- Entrepreneur Pilot
- Ontario Entrepreneur Stream
- Business immigration to Canada
- Let us help!
Background:
In December 2021, local media informed Ontario was planning to accept 100 international entrepreneurs. At the time of the announcement, Ontario explained that these entrepreneurs must start a new business or purchase an existing one in Ontario. Then, they will be nominated for immigration under the province’s economic immigration program.
The pilot was announced as part of the 2021 Ontario Economic Outlook and Fiscal Review: Build Ontario to generate more employment and recover from the impacts of COVID‑19.
<<Read: Business immigration to Canada>>
The Entrepreneur Pilot for two-years
The Entrepreneur Pilot for two-years is an opportunity for foreign investors to:
- establish a new business in Ontario, outside of the Greater Toronto Area (GTA), or
- purchase and expand existing businesses in Ontario, outside the GTA
The pilot is expected to result in 100 additional Entrepreneur Stream applications through the Ontario Immigrant Nominee Program. In addition, entrepreneurs must invest a minimum of $200,000 in the province’s economy. Moreover, the applications under this economic development initiative will be processed on a priority basis.
The OINP selected the TBDC, following a public bidding process, to deliver the pilot. The TBDC is now working with the OINP to develop and launch the pilot. However, in the meantime, we will explore the Ontario Entrepreneur Stream and other immigration options for foreign investors.
About the Ontario Entrepreneur Stream
The Ontario Entrepreneur Stream (OINP-EN) targets senior managers and business owners interested in starting a business in Ontario. The stream allows international entrepreneurs to be nominated for Canadian permanent residency once the company is established in the province.
According to Al Parsai, 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.
You can also read more in his article: Ontario Entrepreneur Stream Minimum Requirements. We also recommend you to read: OINP – What is a good business model?
Business immigration to Canada
Please be aware that there are several options to immigrate to Canada if you are self-employed or have a business mind and enough expertise:
- Self-employed: This option is available to self-employed or world-class professionals in athletics or cultural activities. Of course, you must meet the strict criteria.
- Start-up visa: You may pick this option if you have an innovative idea. However, a designated organization must support your proposal. Also,
- IMP C11: lets entrepreneurs and self-employed individuals apply for a work permit that does not require LMIA.
As a business person, you may also target a specific province or territory in Canada. Here are more options:
- Ontario Entrepreneur Stream
- Alberta Foreign Graduate Start-Up Visa Stream
- Direct permanent residence
- Work-permit first
- Quebec options, also
- Provinces that do not support business immigration
Let us help!
If you intend to immigrate to Canada as a business person in 2022, consider contacting us. You may alternatively book a consultation session or fill out our assessment form. If you are filling out the following form, make sure to be as thorough as possible.
You can also read this in Spanish
Share it!
Fill our Free Canada Immigration Assessment Form in your language!
