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

• Are you an entrepreneur in India looking to start or purchase a business in Canada? If so, the Ontario Entrepreneur Success Initiative (ESI) may be the right program for you.

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.
• This program can help you acquire a work permit and permanent residency in Ontario earlier than many other business immigration streams in Canada. 
• The ESI is an initiative under the Ontario Immigrant Nominee Program (OINP), which is the province of Ontario’s economic immigration program. 
• The OINP aims to attract and retain skilled workers, international students, and business entrepreneurs to Ontario to help build the economy and create employment.

Ontario business owners’ succession planning

• If you are a business owner in Ontario looking to sell your business, the OINP Entrepreneur Success Initiative can connect you with international entrepreneurs who are interested in buying a business in Ontario. India is a large talent pool of successful entrepreneurs. The OINP ESI can be a great option for succession planning and ensuring that your business continues to thrive after you retire.

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 of the interesting advantages of the ESI is that the language requirement is lower than other entrepreneur and skilled worker streams offering permanent residence in Canada. Participants in the ESI require language ability in English or French at minimum Canadian Language Benchmark 4 in reading, writing, listening, and speaking.

 

 Personal Net Worth

• Another advantage of ESI is the required net worth. The ESI requires a net worth of $400,000, which is significantly lower than the net worth requirement of $800,000 for the Entrepreneur Stream of the OINP when investing in a business inside 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).

Processing Time

• Successful applicants can relocate to Canada on a work permit within approximately 12 months from submitting an expression of interest.  Successful applicants who meet their terms and conditions of temporary admission to Canada can expect to receive permanent residence within 24-36 months.

Quality of Life is High Outside the GTA

• The ESI looks to attract entrepreneurs to regions outside of the GTA. Some of Canada’s most sought-after places to live are outside the GTA. These areas generally have a lower cost of living and can provide a high quality of life. If you’re looking for big-city life, there are plenty of options outside of the GTA, including Ottawa, Kitchener-Waterloo, and Kingston.

Entrepreneurs Get Help Along the Way

• The Entrepreneur Success Initiative is administered by the Toronto Business Development Centre (TBDC). The TBDC team of experts will help the foreign investor up until they submit their application. They will assist in helping an investor find the right business to buy or identify new businesses that will benefit a community outside the GTA. TBDC experts will also give resources for interested candidates to help prepare their expression of interest application for submission to the Ontario Immigrant Nominee Program.

Increased Visibility

• Entrepreneurs who participate in the ESI program can benefit from increased visibility. The program promotes its participants’ businesses through its website, social media channels, and other marketing channels.
• This increased visibility can help entrepreneurs reach a broader audience and attract new customers.
• In conclusion, the Ontario Entrepreneur Success Initiative helps attract immigrant entrepreneurs to regions outside of the Greater Toronto Area.

Through the ESI, TDBC offers services to help prospective immigrants and business owners connect. TDBC will:

• Identify business opportunities outside the Greater Toronto Area.
• Market those opportunities to potential international entrepreneurs.
• Support entrepreneurs interested in either establishing a business or buying an existing business outside the GTA.
• Match entrepreneurs to business opportunities.
• Help candidates create expressions of interest in high-quality applications to the OINP Entrepreneur Stream.

If you are an entrepreneur in India with interest to settle in the province of Ontario, look no further than the ESI under OINP.