OINP Business Category
The Business Category is for those applicants who want to start a business or buy an existing business in Ontario. There is currently only one stream under the Business Category – Entrepreneur Stream. The application fee is CAD $3500 and processing of Expression of Interest takes around a month. The Application processing varies on the type of business and complexity.
Minimum Requirements:
- Must have business experience of 24 months in the last 60 months
- Must be actively involved in the management and control at least one-third of the equity in the business. The main purpose of investing must be to make a profit.
- Must create at least two permanent full-time jobs for Canadian citizens or permanent residents, if it will be in GTA, or one permanent full-time job if the business will be outside the GTA.
- Must have a net worth of CAD $800,000 in the Greater Toronto Area (GTA) or CAD $400,000 if the business will be located outside the GTA
- Must make a minimum personal investment of CAD $600,000 in the GTA or CAD $200,000 if the business will be located outside the GTA
- Must meet additional requirements if you are purchasing an existing business. If the business is in the information and communications sector, or digital communications sector, only one full-time job is required, regardless of location.
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