The OINP Entrepreneurship stream follows a two-stage process for applicants interested in starting or purchasing a business in Ontario. The process consists of Stage 1 and Stage 2, each with specific requirements and milestones.

Stage 1:

During Stage 1, applicants need to complete the following steps:

• Register an Expression of Interest (EOI): Applicants submit an EOI to the OINP, providing information about their business experience, net worth, personal investment, and proposed business concept.

• Invitation to Apply (ITA): Based on the EOI score and program criteria, the OINP selects the highest-ranking candidates and issues ITAs to apply for the Entrepreneur Stream.

• Application Submission and Interview: Once invited, applicants need to submit a detailed online application (which includes the business plan) and attend a mandatory interview with the OINP. The application requires supporting documentation to validate eligibility requirements, such as business ownership or senior management experience.

• Performance Agreement: If the Stage 1 application is successful, applicants must sign a Performance Agreement with the OINP, outlining the commitments and obligations they need to fulfill in Stage 2.

Stage 2:

After successfully completing Stage 1, applicants progress to Stage 2, which involves the following steps:

• Temporary Work Permit Support Letter: The OINP issues a temporary work permit support letter, allowing applicants to apply for a temporary work permit from Immigration, Refugees and Citizenship Canada (IRCC).

• Business Establishment and Final Report: Applicants have 20 months from the date they arrive in Ontario to implement their business plan and submit a final report. During this period, they must establish their business, meet job creation requirements, and adhere to program guidelines.

• Nomination for Permanent Residence: If the business meets all requirements and the final report demonstrates fulfillment of the Performance Agreement, applicants can submit documentation to the OINP for nomination consideration for permanent residence. The OINP then makes a recommendation to IRCC, which makes the final decision on permanent residency.

Throughout the two-stage process, applicants are assessed on various criteria, including business experience, net worth, personal investment, active involvement in the business, capital investment purpose, job creation, and compliance with program requirements. Adhering to the obligations outlined in the Performance Agreement is essential for eligibility for nomination for permanent residence.

You will need to provide supporting documents to substantiate the information in your Expression of Interest and business plan. These may include financial statements, tax records, sales forecasts, competitor analysis, industry statistics, market trend data, employee staffing plans, risk assessments, applications for licenses or permits, and industry association memberships. The list of required documents is not exhaustive, and additional documentation may be requested by the OINP or the qualified vendor assessing your net worth.

Once you receive an invitation to apply, you have 90 calendar days to complete and submit your online application through the OINP e-Filing Portal (as of July of 2023). It is important to adhere to this deadline to ensure your application is considered.

The business plan plays a vital role in the application process as it demonstrates the viability and economic benefits of your proposed business. It is a crucial document that is assessed to evaluate your understanding of the industry, market research, financial projections, job creation potential, and overall business acumen. A strong and well-prepared business plan greatly enhances your chances of success in the OINP Entrepreneurship Stream.

Yes, the OINP Entrepreneurship Stream is considered one of the direct pathways to permanent residency in Ontario. Successful applicants who meet the program requirements and are nominated by the OINP have the opportunity to apply for permanent residency through the federal government's immigration process. This stream provides a pathway for eligible entrepreneurs to establish and operate a business in Ontario, contributing to the province's economic growth and development, with the ultimate goal of obtaining permanent resident status in Canada.