Why an EB2 NIW Business Plan and an Ontario Business Plan are Not That Different

Why an EB2 NIW Business Plan and an Ontario Business Plan are Not That Different

An aspiring businessperson with possibilities of immigrating to the United States or Ontario, Canada can either take the EB2 NIW way or OINP Entrepreneur Stream respectively. Both these options ask for business plan as an integral part of the application process. Interestingly, the EB2 NIW Business Plan and Ontario Business Plan shares a lot of similarities despite being intended for two different countries. Read on to know more…

What is EB2 NIW? EB2 NIW (National Interest Waver) is a second preference immigrant visa for individuals with exceptional abilities. It is open for budding entrepreneurs from around the world with a business idea that can benefit Americans and the American economy. These foreign entrepreneurs can apply for EB2 NIW applications if they meet the following criteria · Academic qualification from a well-recognized college or university, supported by a degree or diploma or certificate. · An official document to prove the exceptional abilities in the field of Science, Arts and Business, which can be a certificate, professional testimonies, or holding certain professional title like CEO, Executive Manager, etc. · A license or certificate that allows practicing the profession you are in. · Full-time work experience for a minimum of 10 years in the chosen profession. · Acknowledgement of your accomplishments and contributions in the associated field.

Besides these criteria, it takes careful research and planning to establish your worth for an EB2

NIW status. Thus, a well-drafted EB2 NIW Business Plan is a necessity to accentuate your proven track record as an entrepreneur.

What is Ontario Immigrant Nominee Program (OINP)?

On the other hand, Ontario Immigrant Nominee Program (OINP) in Canada aims at attracting foreign entrepreneurs seeking to establish their businesses in the Ontario province. The OINP program has an Entrepreneur Stream that allows the aspirants to go through a 2-step process to start and establish a business in the province. The eligibility criteria to apply under the entrepreneur stream includes – · A viable business idea with positive effect on the local and Canadian economy as a whole by making profit and creating employment opportunities. · Academic qualifications backed by degree, diplomas or certificates. · Full-time work experience of minimum 2 years as a senior manager or business owner in the last 60 months. · Personal net worth of minimum CAD 800,000 within Greater Toronto Area while for outside GTA, it should be CAD 400,000. Besides this, you must invest at least CAD 600,000 and CAD 200,000 within GTA and outside GTA respectively. · Active involvement in the business on day-to-day basis.

If you are eligible, the first step under the Entrepreneur Stream is an online Expression of Interest (EOI) application. On the basis of the filled application form, the applicants get a score. High scorers – compared to other applicants - receive invites for the second step to submit a complete application along with a comprehensive Ontario Business Plan.

Similarity in EB2 NIW Business Plan and Ontario Business Plan In simpler words, no matter how different the eligibility criteria might be for EB2 NIW and OINP visa applications, well-crafted EB2 NIW business plan and Ontario business plan are a must for them! These EB2 NIW business plan and Ontario business plan place major emphasis on – · The substantial merits of the proposed business idea and its positive contribution towards the national economy & its people. · Creating enough employment possibilities for locals and hiring citizens and permanent residents for full-time positions. · Meeting or exceeding the minimum wage level set out by the Employment Standard Regulations of the respective country or province.

Additionally, a winning EB2 NIW business plan or Ontario business plan must emphasize the proven track record of the foreign entrepreneur. The well-written business plan strategically elaborates on the business idea, its goals & objectives, ownership structure, products or

services, competitors, marketing plan and financial projections.

So, don’t waste time! Join hands with experts and cash in on their skills for writing persuasive business plans and get started on your Entrepreneur Pathway.