6 Things That Improve Your Chances for the OINP Entrepreneur Stream Draw

Canada welcomes newcomers with different skills, work experience, and education to contribute to the economy and make a new life here.

While many immigrants apply to settle in Canada as permanent residents (PR) through the Express Entry system, there are other programs that might make it easier for you to move from your home country.

One of those is the Ontario Immigrant Nominee Program (OINP). As Ontario’s business immigration program, the OINP recognizes and nominates foreign nationals who have the skills and experience Ontario needs for permanent residence.

For those who have applied to the OINP Entrepreneur Stream Draw, it’s important to stay up-to-date with the latest OINP updates. The processing time for the OINP can vary, so it’s important to keep an eye on your application status.

Here are a few things that will make sure you can be qualified for the OINP Entrepreneurship Stream Draw

1. Have A Viable Business Plan

One of the requirements for the OINP Entrepreneurship Stream Draw is to have a viable business plan. This means that your business has the potential to succeed in the Ontario market. Or, that you are purchasing a business with clear intent to grow it.

Your business plan should include:
• A detailed description of your product or service
• The target market for your product or service
• How you will reach your target market
• Your marketing strategy
• The financial projections for your business
• A plan to employee 1-2 full-time Canadian resident employees
• A timeline for implementation

2. Demonstrated Business Experience

To be chosen for the OINP Entrepreneurship Stream Draw, you’ll need to prove 24-60 months of recent business experience. This experience can be in a number of areas, such as:

• Owning and operating your own business
• Working in a management role for a company with at least $500,000 in annual revenue
• Being self-employed for 24 or more months within the last five years

3. Meet Minimum Net Worth Requirements

The OINP Entrepreneurship Stream Draw has minimum net worth requirements.

You’ll need to prove that you have at least $400,000-$800,000 in personal net worth. This number will include the value of your business and any investments you may hold.

4. Be Ready To Move To Ontario

If you are selected as a nominee, you will be required to move to Ontario within a certain amount of time. Make sure that you are prepared to make the move and have all of your paperwork in order.

5. Meet All Language Requirements

The OINP Entrepreneurship Stream Draw requires that all applicants demonstrate proficient English language skills. You will need to provide language test results that meet the program’s minimum requirements.

6. Have A Business Idea That Meets Program Requirements

The OINP Entrepreneurship Stream Draw is for individuals who have a business idea that meets certain criteria. The business must be innovative, have the potential for growth and job creation, and generate significant economic benefit to the province.

Get Started With The OINP Entrepreneurship Stream Draw

If you think you qualify for The OINP Entrepreneurship Stream Draw, don’t wait. Get started today by preparing your application and meeting the program requirements.

The OINP is constantly updating its processes, so make sure to check back for the latest information. The processing time for the OINP can vary, depending on the stream you’re applying under and other factors.

Fill out your assessment today if you qualify!