Ontario

Ontario Invites 24 Immigrant Entrepreneurs

Ontario

Ontario has issued 24 invitations to apply for Immigrant Entrepreneurs under the Entrepreneur Stream.

Ontario Immigrant Nominee Program (OINP) held the draw on June 24 and overall OINP has now invited 70 Entrepreneur Stream candidates in 2020

The immigration candidates who received their Expressions of Interest (EOI) scores between 22nd Nov 2019 and 19th June 2020 were considered for this draw.

The invitations were issued to the immigration candidates who had Expression of Interest (EOI) scores between 134 and 200.

This is the 3rd draw of its kind in 2020 and bringing the total number of entrepreneurs invited up to 70.

The eligibility requirements for the Entrepreneur stream depend on where in Ontario the business is being to be proposed and in recent reforms they have also lowered minimum net worth and investment requirements according to their rules.

The required net worth for the preferred business within the Greater Toronto Area is now $800,000, down from $1.5 million. The required investment is now lowered to $600,000 down from $1 million.

The Entrepreneurs looking outside the Greater Toronto Area must need $400, 00 in net worth instead of $800,000 and now they need a minimum investment of $200,000 instead of $500, 00.

The immigration candidates need 24 months of business experience as an owner or senior manager within the past 60 months where previously the candidates needed 36 months of experience within the same timeframe and please visit this website for further updates.

 

 

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