In the latest draw of the Ontario Entrepreneur Stream held on April 5th, invitations were issued to 22 candidates with the minimum required score being 112 points. This is three points lower than the minimum score requirement for the previous draw held on January 17, in which 13 invitations were issued to candidates with a score of at least 115.’
The Ontario Entrepreneur Stream is one of two business immigration categories under the Ontario Immigrant Nominee Program (OINP), the other being the Ontario Corporate Stream. In 2018, a total of 10 draws were conducted under the Entrepreneur Stream in which invitations were issued to a total of 149 candidates. In the two draws conducted under the Stream in 2019 so far, 35 invitations have been issued.
Ontario Entrepreneur Stream
Ontario Entrepreneur Stream allows the province to select eligible individuals who are looking to launch a new business initiative or to buy an existing business in Ontario. The candidates selected by Ontario will receive a temporary work permit support letter, based on a performance agreement, to start the business in Ontario. If a candidate fulfills the investment and job creation requirements in the performance agreement, Ontario will nominate them for permanent residence in Canada.
The Ontario Entrepreneurs Stream operates on the basis of an Expression of Interest system which means, the candidates must first submit an Expression of Interest and based on their eligibility, they will be invited to apply for starting a business in Ontario. The online application process for submitting the Expression of Interest was introduced by the OINP in 2016. The system has also made it easier to apply to the Entrepreneur Stream if invited and improved the processing times for applicants.
Do you want to know more about your options for investment starting a business in Ontario? Contact us now!