OINP updates list of vendor organisations for the Entrepreneur Stream

Ontario Immigration has announced an updated list of organisations that are used in the verification process to determine the net worth of the candidate applying to the Entrepreneur Stream under the OINP.

The list has now been updated to include:

• MNP LLP
• Grant Thornton LLP
• KPMG LLP

OINP also announced the following on their website: “Any reports on applicants received from vendors up to and including May 31, 2022 remain valid”

 

Requirements to qualify for the Entrepreneur Stream:

● Have at least 2 years of experience as an owner or senior manager of a full-time business experience in the last 60 months.

● Finish making an exploratory visit to Ontario no more than 12 months before the date of applying. 

● Should score at least 4 points on the Canadian Language Benchmark (CLB) for English or French. Employers and regulatory bodies may ask for higher

● Intend to create at least two full-time jobs for the provincial citizens or permanent residents if the proposed business is located in the Greater Toronto Area. Businesses that are located outside the area must be able to create at least one full-time job.

● Must show proof of physically residing in the province for at least 75% of the time spent in managing the business.

● Have a minimum net worth of $800,000 if the proposed business will be in the Greater Toronto Area. Outside the area, the minimum net worth is $400,000.

● Invest a minimum of $600,000 in an Ontario-based business and own at least 33 percent if the business is in the Greater Toronto Area. Outside of the area, invest a minimum of $200,000 and own at least 33 per cent.

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