Entrepreneur stream draw in Ontario invites 20 candidates

Entrepreneur stream draw in Ontario invites 20 candidates

Ontario invites 20 in the first Entrepreneur draw of the year

Ontario issued 20 invitations to candidates in the province’s entrepreneur immigration stream for the first time in 2020. This stream deals with the immigration process for entrepreneurs. The Ontario Entrepreneur Stream (OES) is for individuals from outside Canada looking to start a business in Ontario. They may even buy an existing business in Ontario.

The draw was conducted on February 26, 2020. ITAs (Invitation to Apply) were issued to candidates from Ontario Immigrant Nominee Program (OINP). They scored between 136 and 200 points. Candidates who submitted an Expression of Interest (EOI) between November 22, 2019, and February 14, 2020, were eligible for the draw.

Since the entrepreneur stream draw conducted on December 2, 2019, this was the first one in 2020. In the 2019 Ontario Entrepreneurship draw, 16 candidates were invited. They had a stipulated minimum score of 118.

The latest entrepreneur stream draw was also the third since the significant changes that were introduced on July 8, 2019. Here is a look at the changes introduced to the migration overseas requirements for entrepreneurs outside Canada.

Requirement Description    Before July 8, 2019 After July 8, 2019
Net worth for the proposed business inside GTA $1.5 million $800,000
Net worth for the proposed business outside GTA $800,000 $400,000
The minimum investment for the proposed business inside GTA $1 million $600,000
The minimum investment for the proposed business outside GTA $500,000 $200,000
Net worth for the proposed business involved in digital Communications or Information Communications Technology $800,000 $400,000
The minimum investment for the proposed business involved in Digital Communications or Information Communications Technology $500,000 $200,000
Business experience as an owner or senior manager 36 months within the last 60 months 24 months within the last 60 months

As part of the changes, Ontario also terminated the unpopular Corporate Stream. That stream was meant for international corporations. They would want to expand into Ontario or buy an existing business in Ontario.

The following is a brief of the more recent draws under Ontario Entrepreneurship stream:

Date Number of invitations Minimum score
Ontario Entrepreneur Stream: 2020 Draws
26-02-2020 20 136-200
Ontario Entrepreneur Stream: 2019 Draws
02-12-2019 16 118
20-09-2019 15 127
05-04-2019 22 112
17-01-2019 13 115

Ontario Entrepreneur Stream – Financial Requirements

Net Worth ·        A net worth not less than $800,000 if your business will be established in the Greater Toronto Area (GTA). Outside the GTA, the net worth needed is at least $400,000.

·        If your business is in either digital communications or ICT, the least net worth needed is $400,000 anywhere in the province.

Investment and Ownership ·        Invest at least $600,000 in an Ontario business and own at least 33% if the business is in GTA.

·        Outside GTA, you must invest a minimum of $200,000 and own at least 33%.

·        If your business is in either digital communications or ICT, you must invest a minimum of $200,000 and own at least 33% anywhere in the province.

Ontario Entrepreneur Stream – Non-Financial Requirements

  • In the past 60 months, you must have at least 24 months of full-time business experience. You must have worked as a senior manager or been the owner for the business.
  • You must create full-time jobs for Canadian citizens or permanent residents in the proposed company:
    • 2 jobs if located inside the GTA.
    • 1 job if your business is located outside the GTA, or in either ICT or digital communications
  • If you are buying an existing business, you must visit Ontario to explore it. This must be done in the 12 months before your application.
  • You must have a minimum CLB (Canadian Language Benchmarks) score of 4 in English or French.
  • For at least 75% of the time that you are managing the business, you must physically reside in Ontario.

If you are looking to Study, Work, Visit, Invest or Migrate to Canada, talk to Y-Axis, the World’s No.1 Immigration & Visa Company.

If you found this blog engaging, you may also like…

Manitoba’s latest draw furthers its legacy in migration

About author View all posts

Y-Axis Dubai

Leave a Reply

Your email address will not be published. Required fields are marked *

12 − five =