On October 26, 2020, the province of Ontario issued 21 invitations to the candidates who applied under the Entrepreneur Stream of Ontario Immigrant Nominee Program (OINP). 112 invitations have been sent under the Entrepreneur stream of Ontario Immigrant Nominee Program as far as this year is concerned despite the Corona outbreak
The candidates who received an invitation in the latest OINP draw must have Expression of Interest (EOI) scores between 142 and 200. Now, the candidates who didn’t receive an invitation in the latest OINP draw held by the province of Ontario still have a chance to get an invitation for 12 months from the date it was submitted.
The candidates who received an invitation in the latest OINP draw don’t need to contact the program, as they will receive two emails, one will contain the login credentials and the other one will contain the instructions about how to complete the application. The eligibility requirements are based on where your business is proposed in Ontario.
The minimum net worth for the proposed business within the GTA (Greater Toronto Area) is now set at $800,000 and moreover, the required investment is now $600,000. Recent reforms have lowered the minimum net worth and required investments.
The entrepreneurs who’re looking forward to applying outside the GTA (Greater Toronto Area) need $40,000 in net worth and a minimum investment of $200,000. As per the latest information, the candidates need to have 24 months of business experience as a senior manager or an owner within the past 60 months, instead of 36 months of business experience within the same time-frame.
The Entrepreneur stream is designed to attract the aspiring candidates who have the dream of starting a new business or buy an existing one in the beautiful province of Ontario. The successful candidates are then given a temporary work permit to establish their business in Ontario.
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