Study Overseas Process

Sign up for free

expert consultation

Down Arrow

I accept the Terms & Conditions

Personalized Services
Don't know what to do?

Get Free Counseling

Posted on August 18 2022

Ontario PNP draw: 28 foreign entrepreneurs invited, offered nomination

profile-image
By  Editor
Updated November 22 2023

Highlights of Ontario PNP draw held on August 16, 2022

  • An Ontario PNP draw was held on August 16, 2022.
  • 28 Canada immigration candidates were offered a chance to apply for a provincial nomination.
  • The invitations were issued to immigration candidates under the Entrepreneur Stream.

On August 16, 2022, an Ontario PNP draw was held in which 28 Canada immigration candidates were offered a chance to apply for a provincial nomination. Potential entrepreneurs who are interested in settling in Ontario were invited through the Entrepreneur Stream.

Here are the details of the Ontario PNP draw:

Date No. of Invitations Issued Min. Score Range
August 16, 2022 28 138-160

Also read....

 A $3 million contribution for start-ups in Canada announced for Ontario

The Ontario Entrepreneur Stream is meant for entrepreneurs from outside Canada who are willing to start a new business or buy an existing business in Ontario. Through this Stream, a foreign entrepreneur gets the opportunity to receive a nomination for Canada PR once their business has been established in Ontario.

Also read...

 How does OINP work? Here’s how Ontario helps you obtain Canada PR

Ontario Entrepreneur Stream - Eligibility requirements

Financial requirements

Net Worth

  • The minimum net worth of CAD800,000 if your proposed business will be in the GTA (Greater Toronto Area). The minimum net worth required for businesses outside GTA is CAD400,000.
  • The minimum net worth required for the proposed business in either ICT or digital communications is CAD400,000 at any location in Ontario.

Investment and Ownership

  • Invest a minimum of CAD600,000 in a business in Ontario and own a minimum of 33% if the business is in the GTA.
  • Outside GTA, invest a minimum of CAD200,000 and own a minimum of 33%.
  • Invest a minimum of CAD200,000 and own a minimum of 33% anywhere in the province if the proposed business is in either ICT or digital communications.

Non-Financial Requirements

  • Have a minimum of 24 months of experience in a full-time business in the past 60 months, in the capacity of an owner or senior manager.
  • Create at least 2 full-time jobs for Canadian PR/citizens in the proposed company if it’s located inside the GTA.
  • Create at least one full-time job if the business is located outside the GTA or either in ICT or digital communications.
  • Make an exploratory visit to Ontario in the 12 months preceding the date of application. (Applies to those buying an existing business)
  • Have a minimum CLB 4 in the English/French language.
  • Physically reside in Ontario for at least 75% of the time you are engaged with the management of the business.

*Know your eligibility to immigrate to Canada through Y-Axis Canada Immigration Points Calculator.

Application for Entrepreneur Stream

The Entrepreneur Stream application is a two-stage process. Here’s how the process goes:

Stage 1

  • Register an EOI (Expression of Interest) using email.
  • In case you receive an invitation, submit an application online.
  • Attend a mandatory interview (take your business partner too, if applicable).
  • Sign a performance agreement if our Stage 1 is successful.

Stage 2

  • You get a support letter for a temporary work permit that will enable you to lodge an application to IRCC for a temporary work permit.
  • Establish your business - you have 20 months from the date of arrival in Ontario for the implementation of your business plan. Then, submit a final report.
  • If your business satisfies all requirements then you have to submit documentation to ensure that you have eligibility for nomination for Canada PR.

If you are willing to migrate to Canada, talk to Y-Axis, the leading immigration and career consultant in the UAE.

If you find this blog engaging, you may also like:

BC PNP draw: 228 invitations sent on August 16; nominations offered

Tags:

canada immigration

Migrate to Canada

Ontario PNP

Share

Y-Axis Services

Personalized Services

Get it on your mobile

Personalized Services

Get News alerts

Personalized Services

Contact Y-Axis

Latest Article

Popular Post

Trending Article

Top 5 Safest Countries in Europe in 2024

Posted On May 25 2024

Top 5 Safest Countries in Europe in 2024