The Ontario Immigrant Nominee Program (OINP) issued 26 invitations to apply for entrepreneurs under its Entrepreneur Stream.
The OINP Entrepreneur Stream is structured to encourage overseas entrepreneurs and business owners to come to Canada to either start a new business or acquire an established business in Ontario.
Candidates with scores ranging between 132 and 200 got the invitations. Only candidates which had an Expressions of Interest (EOI) received by the OINP between 22 November 2019 and 17 April 2020 were eligible.
This is their second draw of this sort in 2020. The province has now invited 46 entrepreneurs so far this year, since issuing 66 invitations in 2019. This is the fourth draw after significant adjustments have been introduced to the basic qualifying criteria for the programme.
The net worth necessary for the proposed business within the Greater Toronto Area (GTA) has been lowered from $1.5 million to $800,000, and from $800,000 outside the GTA. The minimum investment for the new GTA business was cut from $1 million to $600,000, and from $500,000 to $200,000 outside of the GTA.
A candidate’s required business experience as an owner or senior manager had also changed. A candidate now has to have 24 months of experience over the last 60 months. A candidate was previously required to have 36 months’ experience within the same time period.
Such changes may draw many business owners and entrepreneurs across the globe to the prospect of relocating to Ontario. The province is the prime immigrant destination in the maple leaf country. Need assistance on how to immigrate through the OINP? Get in touch with authorized immigration consultants in Delhi now!
