oinp entrepreneur stream

If you are relocated to another country to work, at some point you may wish to switch to a different company or an employer. In Canada, if you want to come and work, you need to get a work permit. In general, these are temporary closed work permits having certain restrictions attached to it. Meaning, you can’t just simply switch your company or your employer. This is the basic difference between an open work permit and a closed work permit. In this blog, we will learn about the things a person holding a closed work permit can do if he/she wish to change their employer.

CLOSED WORK PERMIT: Any person holding a closed work permit is bound to work for that particular company or employer till the duration of his work permit. An Employer-specified work permit allows you to work in accordance with the conditions of your work permit. This could include:

Ontario has announced a new Entrepreneur stream of Ontario Immigration Nomination Program. It’s a pilot program by the name ‘OINP Entrepreneur Success Initiative’. This program is aiming to invite 100 newcomers outside Toronto. The duration of this Piot program will be 2 years.

The OINP entrepreneur stream can be facilitated by the foreign entrepreneurs who are willing to buy an existing business or establish a new venture in Ontario.

The OINP Entrepreneur Success Initiative OINP-ESI will assist prospective foreign entrepreneurs prepare and submit applications to Entrepreneur Stream. The aim of the initiative is to draw and support 100 new applications. This program will be managed by TBDC (Toronto Business Development Centers). TBDC will be working to secure applications for the Entrepreneur Stream of the Ontario Immigration Nominee Program.

Entrepreneur Success Initiative (the new Entrepreneur Success Initiative) is an innovative program that helps entrepreneurs establishes businesses in communities outside of the Greater Toronto Area. These are the communities that fall under GTA.

Toronto

Durham Region

Halton Region

York Region

Peel Region

Basic Eligibility Criteria for this Pilot Program

Below are the requirements one must keep in mind before applying under this program:

The net worth of the applicant should be CAD 400,000
The applicant must be eligible to make an investment of at-least CAD 200,000.
The applicant should have a ownership of 33% in the business

Ontario

Changing jobs or employers on Canadian Closed Work Permit.

Ontario’s New Entrepreneur Pilot Program