• Tue. May 28th, 2024

OINP Entrepreneur Success Initiative providing business opportunities for Indian entrepreneurs.

Indian-Entrepreneurs-can-start-or-own-a-business-in-Canada-through-OINP-Entrepreneur-Success-Initiative-(ESI)

Highlights: Business Opportunities for Indian Entrepreneurs through OINP Entrepreneur Success Initiative

  • The Ontario Entrepreneur Success Initiative offers opportunities for Indian entrepreneurs to start businesses in Ontario.
  • The ESI aims to attract immigrant entrepreneurs to regions out of the Greater Toronto Area (GTA).
  • The ESI is immigration program that allows entrepreneurs to acquire work permits and permanent residency in Ontario.
  • The initiative also benefits Ontario business owners looking to sell their businesses by connecting them with international entrepreneurs.
  • The ESI has a lower language requirement compared to other skilled worker and entrepreneur streams.

* Check your eligibility through Y-Axis Canada Immigration points calculator.

Advantages of the Ontario Entrepreneur Success Initiative

The Ontario Entrepreneur Success Initiative presents a new way for Indian entrepreneurs looking to establish businesses in Ontario.

The Ontario Entrepreneur Success Initiative was specifically designed to attract immigrant entrepreneurs to regions outside the Greater Toronto Area (GTA). By providing comprehensive services, the ESI aims to make the identification of business opportunities and help entrepreneurs in applying to the Entrepreneur Stream of Ontario Immigrant Nominee Program.

The ESI offers a fast-track immigration program, enabling entrepreneurs to have work permits and permanent residency in Ontario.

Ontario business owners’ succession planning

For Ontario business owners considering selling their businesses, the OINP Entrepreneur Success Initiative serves as a connection point. This initiative helps connect Ontario business owners with aspiring immigrant entrepreneurs, particularly from India. Engaging with the ESI can provide a seamless succession planning solution, ensuring continuity in growth of the business even after the original owner is retired.

Ontario government’s initiative

The government of Ontario is dedicated to foster economic growth within the province through various means, including funding the Ontario Entrepreneur Success Initiative. This funding aims to make the connection between business owners and immigrant entrepreneurs interested in businesses within the province.

Lower language requirement and net worth

One important advantage of ESI program is the lower language requirement. Candidates in the ESI program must have language proficiency in either English or French.

The ESI has a more net worth requirement, requiring entrepreneurs to have $400,000 net worth, lower than the $800,000 net worth requirement for the Entrepreneur Stream in the GTA.

Steps to apply – Ontario ESI

The ESI program has four-step application process:

Step 1: Entrepreneurs are required to submit an expression of interest (EOI), which, if successful, leads to an interview. After interview, entrepreneurs will be invited to sign a performance bond and get a support letter to apply for a work permit.

Step 2: Entrepreneurs are expected to establish their business project within the Greater Toronto Area within 20 months of arriving in Canada.

Step 3:  Entrepreneurs must submit a report confirming the fulfilment of their performance bond’s terms and apply for permanent residence nomination under the OINP ESI program.

Step 4:  With a nomination certificate from Ontario supporting their application for Canadian permanent residence with the Immigration, Refugees, and Citizenship Canada (IRCC).

Successful ESI candidates can relocate to Canada on a work permit within 12 months from the submission of their expression of interest. The ESI program attracts entrepreneurs to regions outside the GTA, which offer a high quality of life and lower cost of living.

Don’t delay! 2023 is the right time to migrate to Canada. Apply now!

Need step-by-step guidance to apply for Canada PR visa? Talk to Y-Axis, the world’s no. 1 Overseas Immigration Consultant.

Also Read: Top 3 industries with maximum jobs in Canada
Web Story: Indian Entrepreneurs can start or own a business in Canada through OINP Entrepreneur Success Initiative (ESI)

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