The Ontario province originally got its name from the Lake Ontario which means “Great Lake”. Ontario is one of the thirteen provinces of Canada and the one which has the country’s most populated city, Toronto. Ontario is known for quite the number of freshwater lakes the province has (250,000) and the diverse range of noticeable food dishes it has. Ontario Entrepreneur Program has been started as an initiative to provide young & successful entrepreneurs more opportunities, thereby improving the economic growth.
What is Ontario Entrepreneur Program?
The Ontario Entrepreneur Program enables individuals from all over the world to immigrate to Canada and start off with a new business or buy an existing & established business in the province of Ontario. Ontario offers its immigrant a lot of perks and at the same time imposes a few eligibility terms.
Eligibilities for Ontario Entrepreneur Program: –
Like every single entrepreneur program, Canadian government offers, Ontario Entrepreneur Program to has certain eligibility criteria that the applicant should meet if he wants to immigrate to Canada through the Ontario Entrepreneur Program.
- The applicant interested to immigrate to Canada through the Ontario Entrepreneur Program should be having a minimum verifiable net worth of CAD$ 1,500,000 if the candidate has ideas to start a business within the Greater Toronto Area and CAD4 800,00 if it is outside the Greater Toronto Area.
- The candidate should be willing to invest a sum of CAD$ 1,000,000 if he/she is about to start a business within the GTA and a sum of CAD$ 500,00 If he/she is about to start a business outside the GTA.
- The candidate’s age limit should be between 21 – 55 years.
- The candidate should hold a minimum experience of 3 years in a Business Ownership or should have worked in a Senior Management Experience within the past 5 years.
- The candidate should have enough proficiency in the English Language which means he/she should procure standard quality scores in IELTS examinations.
- The applicant should have an education equal to Canadian Higher Secondary or above.
- The candidate should not have any criminal records in the past and should be free from all serious health issues.
- The candidate should make at least one visit related to his business to Ontario during the last 12 months expressing interest in purchasing/planning to purchase a business which is already existing.
Important Things You Should Know About Ontario Entrepreneur Program: –
- Upon applying & qualifying for Ontario Entrepreneur Program, the applicant will get a Temporary Residence Visa for 2 years.
- Permanent Residency can be obtained when the candidate fulfills 20 months of business commitment.
- Canadian Passport can be obtained when the candidate stays for 3 years out of 4 years in his Permanent Resident Status.
- The processing time will vary depending on the complexity of each individual application.
- Ontario Entrepreneur Program application costs around CAD$ 3,500.
To know more about Ontario Entrepreneur Program, speak to our experts.