This stream under the OPNP has been designed in order to help people from abroad either buy an existing business in Ontario, or create one from the scratch. As the business is established, the entrepreneurs behind the operation can get a nomination to become permanent residents, under this stream.
For one to qualify under this sub-category, they would have to satisfy the following set of requirements:
- A minimum of 500,000 CAD investment will have to be made by each person who seeks nomination under this stream. Therefore, it would involve the entrepreneur themselves, their business partner, if any, and every other potential nominee. The criteria for investment will change, if say, the business is to be located in the Greater Toronto Area. The minimum investment will then rise to 1,000,000 CAD, except if the business is digital in nature, or related to the IT sector.
- Tenet worth of each of these people will have to be at least 800,000 CAD. Again, if the business is looking to get established in the GTA, then this sum will increase to 1,500,000. But, the sum remains unchanged, if the business is digital in its nature, or belongs to the IT sector.
- This business will have to create at least two positions that are both full-time as well as permanent, for the citizens and permanent residents of Canada.
- The entrepreneur, as well as their business partner, if they have one, will have 2 years to satisfy every minimum requirement of the program, if they’re to receive a nomination for PR.
- The entrepreneur will need to have an experience of at least 3 years, any time in the last 5 years, at a senior management level, or as an owner of a business.
Whether the prospective nominee builds a new business, or invests in an existing one, they would need to have a minimum 33.3% ownership of the total shares, in order for them to qualify under this stream of immigration. The immigration officials, in addition, will also inquire about the viability of this business, as a part of the process of application. A performance agreement will also be needed which will clearly outline commitments regarding job creation, and the investment made into the business.