On August 26, 2020, the Ontario Immigrant Nominee Program (OINP) issued 21 invitations to apply under the entrepreneur stream. Candidates who submitted their expression of interest between November 22, 2019 and August 21, 2020 were considered for this round of invitation.
Invitations were sent to those who had an expression of interest (EOI) score between 144 and 200.
To date, this is the fourth draw this year which brings the total invitations to 91.
This stream is for entrepreneurs from outside Canada who are interested in starting a new business or buying an existing business in Ontario. It enables an entrepreneur, and one business partner the opportunity to be nominated for permanent residence once their business has been established in Ontario.
Financial Requirement
Net Worth
• in the Greater Toronto Area (GTA), minimum net worth of 800,000. Outside GTA minimum net worth of $400,000.
• proposed business either in the information and communications technology/digital communications, minimum net worth of $400,000 anywhere in the province.
Investment and Ownership
• in the GTA, minimum investment of $600,000 and control at least 33 per cent of the equity in the business
• outside the GTA, minimum investment of $200,000 and control at least 33 per cent in the business
• if the business is in the information and communications technology/digital communications sector, minimum investment of $200,000 and control at least 33 per cent in the business
Non-Financial Requirements
• have 24 months of full-time business experience in the last 60 months
• be actively involved, on an ongoing basis, in the management of the business
• create two full time jobs for Canadians or permanent residents if the business is in the GTA. If the business will be located out of the GTA or in the information and communications technology or digital communications sector, create one permanent full-time job for a Canadian or permanent resident anywhere in the province. Jobs must be created within the first 20 months of establishing or acquiring the business
• have CLB in English or French
• live in Ontario for 75% of the time
• make an exploratory visit to Ontario 12 months before applying; this is only if buying an existing business
Need more information contact JM Immigration at info@onecanadavisa.com
