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Ontario Declares the Latest Draw Under Entrepreneur Stream

Aug 19,2022

Ontario Declares the Latest Draw Under Entrepreneur Stream

Ontario Immigrant Nominee Program (OINP) issued 30 invitations to apply under the Entrepreneur Stream. Those candidates are nominated under the stream who have a score between 138 to 160 points. The draw has been declared on  August 16, 2022.

About an Entrepreneur Stream

The purpose of the Ontario Immigrant Nominee Program’s (OINP) Entrepreneur Stream is to support those entrepreneurs and business professionals who would like to start or buy a business in Ontario province. This Entrepreneur Stream provides a Pathway to Canada PR for entrepreneurs and business professionals once their business has been successfully established in Ontario. Based on the profile candidates may receive nominations from the province. Once the nominations have been received candidates are required to Apply to Immigration, Refugees and Citizenship Canada (IRCC) for their Canadian permanent residence.

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Eligibility Criteria for Entrepreneur Stream

Here are the basic eligibility criteria for the Entrepreneur Stream. The criteria are divided into two segments.

Minimum Requirements

Experience

  • At least 24 months of full-time business experience in the last 60 months.
  • Your experience must be as a business owner OR as a senior manager (business management).
  • If you have experience as a business owner and as a senior manager, you must choose only ONE to use (i.e. whichever is the most recent or has more relevance to your proposed business).

Net Worth

  • If your proposed business will be located within the GTA, you must have a minimum net worth of $800,000.
  • If your proposed business will be located outside the GTA, you must have a minimum net worth of $400,000.
  • For the Information and Communications Technology (ICT)/Digital Communications sector, you must have a minimum net worth of $400,000 irrespective of business location.

Personal Investment Funds

  • Personal investments will only be considered if it comes after excluding cash, cash equivalents, working capital, or wages paid to you or a family member.
  • As per mentioned-above, the business must be located within the GTA area and the requirement of personal investment will be $600,000
  • Candidates who are proposing a business outside GTA or in ICT sector are required to make a personal investment of $200,000.`

Active Involvement

  • Candidates’ involvement is a must in the proposed or ongoing business.

Minimum Equity

  • One-third of equity must be controlled by a candidate in the proposed business.

Capital Investment Purpose

  • The Capital must not be invested in the proposed business for the primary purpose.

Job Creation

  • The proposed business must create at least two permanent full-time jobs for Canadian citizens/permanent residents for a business located within the GTA. OR
  • If a proposed business is outside GTA or in the ICT sector then it must be generated at least one permanent full-time job for Canadian citizens/permanent residents.

Business-Related Visit

  • You must visit Ontario in the past 12 months from the date of EOI submitted and if you have purchased or planning to purchase a business.

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Nomination Requirements

Language Requirement

Residency Requirement

  • As per the criteria, candidates must physically reside in Ontario for 75 percent (nine months out of the year).

Active Management

  • Candidates who qualified for the nomination must have to involve in the day-to-day management activities of their business.

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Conclusion

If candidates would like to Apply for the Canada Permanent Residency through OINP Entrepreneur Stream then they must have to meet the above-mentioned criteria. However, there is a list of other streams also available for entrepreneurs and business professionals to Apply for Permanent Residency in Canada.

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