Entrepreneur candidates are invited by Ontario
The Ontario Immigration Nominee Program (OINP) has invited 21 entrepreneur candidates. Candidates are invited through Entrepreneur stream who have Expression Of Interest scores between 142 to 200. Candidates with an invitation to apply are not needed to contact the program. The Ontario Immigration Nominee Program usually sends two emails to the candidates. One mail contains login information and the other contains instructions to complete the application.
Candidates who are not invited yet but are eligible, have a chance to be invited within 12 months from the date of submitting an application.
A total number of 112 entrepreneurs are invited in 2020 and it was the fifth entrepreneur draw of this year.
Eligibility depends on where in Ontario the business is being proposed. According to recent reforms, net worth and investment requirements are minimized. Net worth in the Greater Toronto Area for the proposed business is now $800,000 which is decreased from $1.5 million. While the required investment is $600,000 now decreased from $1 million. Net worth outside the Greater Toronto Area is $400,000 instead of $800,000. And the minimum investment needed is $200,000 decreased from $500,000.
As an owner, candidates need 24 months of business experience within the past 60 months. This time frame is decreased from 36 months of experience.
Minimum requirements for a nomination
Entrepreneur Stream is to attract candidates who want to start a new business or want to buy an existing one in Ontario. A temporary work permit support letter is issued to the applicant till that they establish their business in Ontario. It is actually a performance agreement if the investment and job creation targets are achieved, candidates are nominated for Canadian permanent residence.
After establishing the business candidates have to fulfill the following requirements to be nominated. Nomination certificate allows applicants to go for the application for Canadian permanent residence. Following criteria must be met to apply for a nomination from Ontario.
- Canadian Language Benchmark CLB level 4 to demonstrate language proficiency.
- During establishing a business in Ontario, applicants should reside 75 percent there.
- Show involvement in the daily management of business activities.
- Continue to meet the conditions of the performance agreement within 20 months of arriving in Ontario. This includes the information provided in the Expression of Interest and business plan.
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