The Ontario Entrepreneur Stream is a development stream under the Ontario Immigrant Nominee Program (OINP).
This Ontario entrepreneur stream is for business visionaries from outside of Canada enthused about starting another business or buying a present business in the province of Ontario.
It allows a business visionary to be nominated for permanent residency plans once their business has been developed in Ontario.
If you are nominated, the accompanying stage will be to apply to the federal government through Immigration, Refugees and Citizenship Canada (IRCC). IRCC is responsible for the ultimate decision on which applicant transforms into a permanent resident.
The April 23, 2020, Draw
The province of Ontario under Ontario migration gave 26 Invitations to Apply in the second draw of 2020 through the province’s Entrepreneur Stream.
This most recent draw was the first since February 26 when 20 applicants were welcomed with a base score of 136 and the second Ontario Entrepreneur draw of 2020.
Applicants scoring in the range of 132 and 200 points were issued invitations to apply (ITA), in this draw held by the Ontario Immigrant Nominee Program.
Qualified for consideration by OINP are applicants who presented an Expression of Interest between November 22, 2019, and April 17, 2020.
It was additionally the fourth since a heap of changes was presented on July 8, 2019.
The progressions included lessening total assets prerequisites from $1.5 million to $800,000 for organizations inside the GTA, and from $800,000 to $400,000 for those outside the GTA perimeter.
The necessary business experience was decreased from three years inside the last 60 to two years inside the last 60.
The base speculation prerequisite was likewise sliced from $1 million to $600,000 for organizations inside the GTA, and from $500,000 to $200,000 for that outside.
The Entrepreneur Stream application is a two-stage procedure:
- Register a statement of keenness by email. This is synonymous with EOI in other immigration pathways.
- If invited, present an online application
- You and your associate go to a compulsory in-person interview at the OINP office in Toronto, Canada
- If your stage 1 application is productive, you should agree to a presentation plan
- You will be issued a temporary work permit support letter with the objective that you can apply to IRCC for a concise work permit
- Establish your business – you have 20 months to complete your field-tried strategy and present the final report to OINP.
- If your business meets all necessities, you will be approached for documentation to guarantee you are qualified for selection for Canadian permanent residence.