OINP invited 14 business candidates under the Entrepreneur Stream
Ontario Immigration Nominee Program (OINP) released the results of the new draw under the Entrepreneur Stream. Province invited 14 business candidates to this draw, on December 22, 2022,
The minimum score of this round was 140, two points more compared to the August 16 draw. The OINP noted that those whose Expressions of Interest were scored by December 15, 2022, were eligible for this draw. This year, the Government of Ontario invited 96 business candidates to apply for the provincial nomination.
Entrepreneur Stream Overview
The Ontario Immigrant Nominee Program has an immigration stream named the Entrepreneur Stream (OINP). It was created in accordance with the 2015 Ontario Immigration Act and its regulations. This stream is for entrepreneurs from outside Canada who want to launch a new business or acquire an existing company in Ontario. When a firm is created in Ontario, it provides an entrepreneur the chance to be nominated for permanent residence.
There are two stages to applying for the Entrepreneur Stream.
- submit an expression of interest.
- submit an application if selected.
- You must appear in person for a required interview with your business partner, if applicable.
- You must sign a performance agreement if your stage 1 application is approved.
- Ontario offers you a letter of support for a temporary work permit so you can submit an application to IRCC.
- Establish your business: You have 20 months from the day you arrive in Ontario to put your business plan into action and submit a final report.
- Ontario asks for paperwork to confirm that you are qualified for nomination for permanent residence if your company satisfies all requirements.
Ontario Immigration Nominee Program
The province’s program for economic immigration is named the Ontario Immigrant Nominee Program (OINP). Immigration, Refugees and Citizenship Canada, works with the government of Canada (IRCC).
Foreign workers, foreign students, business candidates, and individuals with the required education, training, and experience submit nomination applications to the OINP.
People with the knowledge and experience that the Ontario economy requires are identified by the OINP and nominated for permanent residency; however, the final decision to grant applications for permanent residence belongs to the Government of Canada. You can read more about OINP here
Expressions of Interest
An expression of interest (EOI) is not the same as an application. Under the Entrepreneur Stream, you must be invited before you may submit an application for nomination for permanent residence in Canada. The registration of an EOI is free.
For a maximum EOI score of 200 points, the EOI consists of the following two stages:
- self-declared score (maximum 126 points).
- business concept score (maximum 74 points).
To find out more details about “OINP invited 14 business candidates under the Entrepreneur Stream” you can contact one of our immigration specialists at Gunness & Associates.
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