Indians Can Now Start A Business In Ontario: Are you an entrepreneur in India looking to purchase or start a business in Ontario, Canada? If yes, Ontario will be given an opportunity to do this through a program that we discuss in the upcoming paragraphs.
In this article, we will discuss Indians can now start a business in Ontario and recognize the significant number of talented entrepreneurs from India suited to benefit from the Ontario Entrepreneur Success Initiative program.
Indians Can Now Start A Business In Ontario
The Ontario Entrepreneur Success Initiative (ESI) is a program for Indians to start a business in Ontario. The ESI was established to extend the advantages of business immigration beyond the Greater Toronto Area (GTA).
It provides various services to help individuals identify business prospects and apply for the Entrepreneur Stream of the Ontario Immigrant Nominee Program (OINP). ESI is a fast-track immigration program to attract immigrant entrepreneurs to Ontario regions outside the GTA.
The ESI program also helps people obtain a work visa and PR (Permanent residency) in Ontario earlier than other business immigration streams in Canada. Also, it is an industry under the OINP, the region of Ontario’s economic immigration program.
The primary purpose of the OINP is to bring in and keep talented workers, international students, and business entrepreneurs in Ontario to contribute to the economy’s growth and create employment.
OINP Gives Ontario Entrepreneurs Opportunities For Succession Planning
Are you a business owner in Ontario who wants to sell their business? The OINP Entrepreneur Success Initiative can help connect you with international entrepreneurs interested in buying businesses in Ontario. Indian is one of the big talent pools of successful entrepreneurs. OINP ESI program can be a good choice for succession planning and securing your business growth even after you retire.
Also, the Ontario government is dedicated to helping the economy’s growth in the region. One way they do this is by funding the Ontario Entrepreneur Success Initiative, which helps connect Ontario firm owners with immigrant entrepreneurs interested in buying a business in Ontario.
After Knowing Indians can now start a business in Ontario, you must know the benefits of ESI.
Benefits Of the Ontario Entrepreneur Success Initiative Program
- ESI includes language requirements lower than the other entrepreneur or skilled worker streams offering PR in Canada. ESI program participants need French or English language ability at the lowest Canadian Language Benchmark 4 in writing, reading, speaking, and listening.
- The next benefit of ESI is the needed net worth. It only needs a net price of $400,000, significantly lower than the required $800,000 for the OINP Entrepreneur Stream when investing in a business inside the GTA.
- Entrepreneurs can promote their businesses through the program’s social media, website, and other marketing media and gain increased visibility. This increased visibility can help them reach a wider audience and attract new customers.
Process For Starting a Business In Ontario
- First, apply for an expression of interest (EOI). If your EOI application is successful, you will be invited to an interview.
- After passing the interview, you will be asked to sign a performance bond and acquire a support letter to apply for a work visa.
- You can establish a business project in the (GTA) Greater Toronto Area within 20 months of reaching Canada.
- Submit a documentation report confirming that you have met all the performance bond requirements and apply for PR under the OINP ESI program.
- With a nomination certificate from Ontario, apply for Canadian PR with IRCC.
If you’re a successful applicant, you can move to Canada on a work permit within 12 months of expressing interest. Once you have fulfilled all the terms and conditions for temporary admission, you can receive your PR within 24-36 months.
So, it is all about Indians Can Now Start A Business In Ontario.
For more information, keep visiting Course Mentor.
Source:-immigration.ca
