The Ontario Immigrant Nominee Program’s Entrepreneur Success Initiative offers foreign entrepreneurs a fast-track opportunity to move to Canada by acquiring an existing business.
Canada’s most populous province wants foreign entrepreneurs to bring their expertise to businesses outside of the Greater Toronto Area. It has opportunities for 200 entrepreneurs to move to Canada and either start their own businesses or buy an existing business.
Candidates can initially move to Canada on a work permit and qualify for permanent residence after 20 months, provided they meet the terms of the program.
The Entrepreneur Success Initiative is managed by the Toronto Business Development Centre, whose team of experts will help the foreign investor every step of the way.
The TBDC will assist in either helping an investor find the right business to buy, or identify new businesses that will benefit a community outside the GTA.
TBDC experts will help interested candidates prepare their expression of interest application for submission to the Ontario Immigrant Nominee Program. Once approved, OINP will nominate entrepreneurs and their dependents for permanent residence at the end of the 20-month period.
The TBDC works with both candidates and Ontario business owners who are looking to sell their operations.
The process of securing a work permit can take between one and two months, after which the candidate can move to Canada and start business operations. After 20 months, nomination through the OINP can be secured.