– Overview and advantages
The Ontario Immigrant Nominee Program (OINP) allows for candidates to apply for a working permit for the creation of a business in Canada’s commercial center: the province of Ontario. The selected applicants who successfully create a business in Ontario will then have the opportunity to be nominated for Canadian Permanent Residency, which can eventually lead to full citizenship.
Demonstration of a personal net worth of at least CAD $800,000 (the candidate may be required to demonstrate a higher net worth depending on the city of establishment and industry);
Create an economically beneficial business (not all business proposals shall be considered, and are subject to the pre-approval and analysis of the Provincial Government). This business must employ at least two Canadian citizens or permanent residents on a full-time basis;
Commit to making the required investment (see investment section below);
Proof of no criminal record;
The program requires the applicant to make an investment of CAD $500,000 in the proposed business. As with the demonstration of the candidate’s net worth, this figure is subject to increase depending of the location of establishment and sector.
– Application Process
– Preparation of the documentation, and submission of the file;
– File processing by the Government, and decision regarding the business proposal;
– Should the Government approve the proposal, the candidate will obtain a work permit and begin the establishment of the company;
– The candidate will then be able to apply for permanent residence nomination.