Ontario Targets Entrepreneurs In The New Invitation Round

Ontario is one of the most popular provinces in Canada. Several immigrants around the world immigrate to Ontario every year. The Ontario Immigrant Nominee Program (OINP) allows the province to nominate candidates to apply for permanent residence. Recently, Ontario has invited 26 entrepreneurs to apply for a provincial nomination through the Entrepreneur Stream of the OINP. These 26 candidates had submitted their Expression of Interest for the ONIP between 22/11/2019 and 17/04/2020. And, candidates receive scores based on their Expression of Interest profiles. The invited entrepreneurs had a score in the range of 132 to 200. Read More: Requirements for Canada PR Visa This was the second draw this year for the Ontario Entrepreneur Stream. With this draw, the province has invited 46 entrepreneurs so far.

Eligibility Requirements Weakened

The net worth required for setting up a business within the Greater Toronto Area was reduced to $800,000 from $1.5 million and outside the GTA the net worth was lowered from $800,000 to $400,000. The minimum investment needed for an entrepreneur in the GTA was decreased from a huge sum of $1 million to $600,000. And, outside the GTA, an entrepreneur needed an investment of $200,000 from the previous $500,000. Also Read: Benefits of Immigration to Canada Earlier, the candidate needed to have 36 months of work experience as a business owner or a senior manager. Now, the candidate required only 2 years of work experience within the last five years.

What is the Ontario Entrepreneur Stream?

The Ontario Entrepreneur Stream is for those applicants who are looking to setting up a new business or buying an existing business in Ontario. First, an entrepreneur will get a temporary work permit to establish a new business or support existing business in Ontario. Next, if the conditions for investment and job creation are met, entrepreneurs might get nominated by the province of Ontario for the status of a Canadian Permanent Resident. The Entrepreneur stream of the OINP is based on an ‘Expression of Interest’ system. This means that eligible applicants must be first invited to apply by the province before they submit a complete application. Candidates who have received the invitations must submit their complete application. And the recent changes that have been adopted by Ontario will manage to attract more entrepreneurs around the world to come and settle in the province. So, business owners looking for a chance to settle in Canada can get an opportunity to be invited by the Entrepreneur Immigration Stream of Ontario.