The third draw of 2020 through Ontario’s Entrepreneur Stream saw 24 Invitations to Apply issued.
The June draw saw ITAs issued to Ontario Immigrant Nominee Program (OINP) candidates scoring between 134 and 200 points.
Candidates who submitted an Expression of Interest between November 22, 2019 and June 19, 2020 were eligible for consideration.
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|Date||NOIs||Minimum score range|
This was the fifth since a raft of changes were introduced on July 8, 2019.
The changes included reducing net worth requirements from $1.5 million to $800,000 for businesses inside the GTA, and from $800,000 to $400,000 for those outside.
The minimum investment requirement was also cut from $1 million to $600,000 for businesses inside the GTA, and from $500,000 to $200,000 for those outside.
Required business experience was reduced from 36 months within the last 60 to 24 months within the last 60.
Summary of Changes To The Ontario Entrepreneur Stream
|Requirement Description||Before July 8, 2019||After July 8 2019|
|Net worth for proposed business inside GTA||$1.5 million||$800,000|
|Net worth for proposed business outside GTA||$800,000||$400,000|
|Net worth for proposed business in involved in Information Communications Technology or Digital Communications||$800,000||$400,000|
|Minimum investment for proposed business inside GTA||$1 million||$600,000|
|Minimum investment for proposed business outside GTA||$500,000||$200,000|
|Minimum investment for proposed business in involved in Information Communications Technology or Digital Communications||$500,000||$200,000|
|Business experience as owner or senior manager||36 months within last 60 months||24 months within last 60 months|
The changes also saw Ontario terminate the unpopular Corporate Stream, which was aimed at established international corporations that wanted to expand into Ontario or buy an existing Ontario business.
Ontario Entrepreneur Stream: Financial Requirements
1) Net Worth
- Minimum net worth of $800,000 if your proposed business will be in the Greater Toronto Area (GTA). Outside the GTA, minimum net worth is $400,000.
- Proposed business in either ICT or digital communications, minimum net worth is $400,000 anywhere in province.
2) Investment and Ownership
- Invest at least $600,000 in an Ontario business and own at least 33 per cent if business is in GTA.
- Outside GTA, invest at least $200,000 and own at least 33 per cent.
- Proposed business in either ICT or digital communications, invest at least $200,000 and own at least 33 per cent anywhere in province.
Ontario Entrepreneur Stream: Non-Financial Requirements
- At least 24 months of full-time business experience in the past 60 months, as an owner or senior manager.
- Create two full-time jobs for Canadian citizens or permanent residents in the proposed company if located inside the GTA. Business located outside the GTA, or in either ICT or digital communications, must create one full time job.
- Make exploratory visit to Ontario in the 12 months prior to application. Note: This only applies to those buying an existing business.
- Minimum CLB 4 in English or French.
- Physically reside in Ontario for at least 75% of the time you are managing the business.
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