The Ontario Entrepreneur Stream update its list of qualified vendors
The Ontario Immigrant Nominee Program (OINP) has updated the list of approved vendors for its Entrepreneur Stream. The vendors are third-party organizations that evaluate the financial documents (net worth and legal accumulation of funds) of the applicants. Effective June 1, 2022, Ontario accepts reports from the following organizations only:
| MNP LLP ATTN: Dennis Dai 300-111 Richmond Street West Toronto, Ontario M5H 2G4 Tel: 647-775-1773 [email protected] | KPMG LLP ATTN: Immigration Verification Services 333 Bay Street, Suite 4600 Toronto, Ontario M5H 2S5 Tel: 416-777-3887 [email protected] | Grant Thornton LLP Accounting and Advisory Firm 200 King St West, 20th Floor. Toronto, Ontario M5H 3T4 +1 416 366 4240, +1 416 360 4944 |
However, any reports applicants received from vendors up to and including May 31, 2022, remain valid, according to the OINP website.
About the Ontario Entrepreneur Stream
The Entrepreneur Stream is a pathway for entrepreneurs from outside Canada interested in starting a new business or buying an existing business in Ontario. Moreover, it gives an entrepreneur (and up to one foreign national business partner) the opportunity to be nominated for permanent residence once their business has been established in Ontario.
<<Also Read: Ontario is Getting Ready to Launch the Entrepreneur Pilot>>
The Entrepreneur Stream application process
The Entrepreneur Stream application is a two-stage process. For the first stage, you have to register an expression of interest by email. Then, if you are invited, you have to submit an online application. Further, you and your business partner (if applicable) attend a mandatory interview. If your stage 1 application is successful, you must sign a performance agreement.
For stage 2, the OINP issues a temporary work permit support letter so that you can apply to IRCC for a temporary work permit. In this stage, you have to establish your business.
Please be aware that you have only 20 months from the date you arrive in Ontario to implement your business plan and submit a final report. Finally, if your business meets all requirements, the OINP asks for your documentation to make sure you are eligible for nomination for permanent residence.
Although this sounds quite easy, the details of the process are not necessarily. Our CEO and RCIC, Al Parsai has prepared several articles that explain in detail the requirements and steps to follow:
- Ontario Entrepreneur Stream Process,
- Ontario Entrepreneur Stream Minimum Requirements, also
- OINP – What is a good business model?
In addition, we have designed a proprietary calculator that helps you estimate your EOI score.
Other options to immigrate to Canada
Please be aware that there are other 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.
- Further, 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.
- For more Business immigration options to Canada.
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. You can also fill out our assessment form for other immigration options. If you are filling out the following form, make sure to be as thorough as possible.
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