published on 10 November 2022 @ 1:26 pm · COMMENT
Ontario Immigrant Nominee Program Launches New Entrepreneur Success Initiative Pilot Program
On November 9, 2022, the Ontario Immigrant Nominee Program (OINP) announced a new Entrepreneur Success Initiative (ESI) pilot program. The program will be administered by the Toronto Business Development Centre.
The ESI pilot program is designed to attract foreign entrepreneurs who intend to establish a new business or purchase an existing business outside of the Greater Toronto Area (GTA). The goal of the pilot is to accept 100 new entrepreneurs to promote economic growth outside of the Toronto region.
Applicants under this category must still meet the requirements of the OINP Entrepreneur Stream program, including the following:
- Have at least 24 months of full-time experience as either a business owner or senior manager, within the last five years
- Have a minimum personal net worth of at least CAD $400,00.00 (for businesses outside of the GTA)
- Intend to make a minimum personal investment in the business of at least CAD $200,000.00 (for businesses outside of the GTA)
- Must intend to be actively involved in the day-to-day management of the Canadian business
The pilot program will run initially for two (2) years.