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In a draw announced on November 23, the Government of Ontario issued 15 invitations to apply to immigrant entrepreneurs under the Entrepreneur stream of Ontario Immigrant Nominee Program (OINP). Candidates with a minimum score of 112 points were selected to be invited. In the previous Ontario Entrepreneur stream draw held on October 23, 2018 in which 18 candidates were invited, the minimum required score was 110 points.
OINP Entrepreneur Stream
OINP Entrepreneur Stream aims to invite eligible candidates who wish to start a new business or take over an existing business in Ontario. Those interested to apply under this stream must first create and ‘Expression of Interest’ (EOI) profile with the EoI system of OINP and provide information on factors such as work experience and investments. Based on the information provided, a score out of 170 will be awarded to each candidate. The highest scoring candidates will be invited to apply.
Those who apply successfully will receive a Temporary Work Permit support letter based on a performance agreement. If the investment and job creation requirements in the performance agreement are met, the OINP may nominate the candidate for permanent residence in Canada.
Eligibility requirements to apply for OINP Entrepreneur Stream
- Minimum 36 months of full-time business experience in the last 60 months as a business owner or senior manager
- Minimum net worth, which varies depending on the region where the candidate is planning to start the business
- A third party verification report prepared by an authorized service provider to demonstrate net worth
- Minimum personal investment, which also varies depending on the region where the candidate is planning to start the business
- Minimum equity ownership of 33.3 percent(one-third)
- Create minimum two permanent, full-time jobs for Canadian citizens and/or permanent residents
- If the candidate is purchasing an existing business, he must have visited Ontario in the 12 months prior to submitting the Expression of Interest
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