Ontario Entrepreneur stream issues 26 Invitation to Apply (ITA) on April 22
Ontario Immigration Nominee Program (OINP) invites 26 applicants with a CRS score between 132 and 200 from its Entrepreneur stream.
On April 22, Ontario held its latest immigration draw. It invited 26 entrepreneurs who had the skills and experience to meet the province’s labour market and economic needs. The OINP helps in hiring and retaining foreign skilled workers.
In specific, the Entrepreneur Stream selects entrepreneurs who have the skill and intent to buy or run a business in the province. Because these applicants add to the business environment and create new opportunities for the people of the province.
OINP: ES selects 27 entrepreneurs
Applicants selected in OINP: ES had submitted their Expression of Interest (EOI) profiles between Nov 22, 2019, and April 17, 2020. Also, these profiles received scores as per the EOI point grid system which includes factors such as:
- Human Capital Factors
- Business Experience
- Past specific work experience
- Education level
- Language skills
- Investment Factors
- Net worth
- Investment amount
- Eligible investments
- Investments made before applying
- Business-related visits
- Business Concept Factors
- Business Model
- Proposed Business Location
- Job Creation
Ontario’s Entrepreneur draw slashes minimum criteria
Earlier in 2019, Ontario issued 66 Invitation to Apply (ITA) to applicants to apply for nomination for permanent residence in Canada. However, so far the province has selected 46 entrepreneurs under this stream.
The April 22 draw is unique as the OINP slashed its minimum eligibility criteria for factors such as:
- Firstly, minimum net worth for proposed businesses in Greater Toronto Area (GTA) has been reduced from $1.5 million to $800,000 and for businesses outside GTA; it has been reduced from $800,000 to $400,000.
- Secondly, the minimum investment for proposed businesses in GTA has been reduced from $1 million to $600,000 and for businesses outside GTA it is lowered from $500,000 to $200,000.
- Also, the minimum business experience required as an owner or senior manager has changed. Applicants now must have 24 months of work experience within 60 months as compared to the earlier 36 months of work experience in 60 months.
In conclusion, such changes only hint at the positive trends of Canada immigration. The latest changes in the OINP: ES terms will attract more entrepreneurs from all over the world. As a result, Ontario will continue to be the best destination for moving to Canada.
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