Ontario immigration issued 20 ITAs in the first draw of 2020 through the province’s Entrepreneur Stream. The February 26 draw saw ITAs rolled out to Ontario Immigrant Nominee Program (OINP) applicants scoring between 136 and 200 points.
People who submitted an Expression of Interest between November 22, 2019, and February 14, 2020, were qualified for consideration.
This was the first Ontario Entrepreneur draw conducted in 2020 and the first since December 2, 2019, when sixteen (16) applicants were invited with a minimum score of 118.
It was also the third since a series of changes were introduced on July 8, 2019.
Ontario Entrepreneur Streams: 2020 Draws
|Date||NOIs||Minimum score range|
The changes included cutting down net worth requirements from $1.5 million to $800,000 for businesses inside the Greater Toronto Area, and from $800,000 to $400,000 for those outsides.
The minimum investment requirements also went down from $1 million to $600,000 for businesses inside the Greater Toronto Area, and from $500,000 to $200,000 for those outsides.
The required business experience was cut from thirty-six (36) months within the last sixty (60) to twenty-four (24) months within the last sixty (60).
Summary of Changes Introduced To The Ontario Entrepreneur Stream
|Requirement Descriptions||Before July 8, 2019||After July 8 2019|
|Net worth for proposed business inside Greater Toronto Area||$1.5 million||$800,000|
|Net worth for proposed business outside Greater Toronto Area||$800,000||$400,000|
|Net worth for proposed business is involved in Information Communication Technology or Digital Communications||$800,000||$400,000|
|The minimum investment for proposed business inside Greater Toronto Area||$1 million||$600,000|
|The minimum investment for proposed business outside Greater Toronto Area||$500,000||$200,000|
|The minimum investment for the proposed business is involved in Information Communication Technology or Digital Communications||$500,000||$200,000|
|Business experience as an owner or senior manager||36 months within the last 60 months||24 months within the last 60 months|
The changes also saw Ontario terminate the unpopular Corporate Stream, which was targeted at established international corporations that wish to bring their business into Ontario or buy an existing Ontario business.
Ontario Entrepreneur Streams: Financial Requirements
1) Net Worth
- The minimum net worth of $800,000 if your proposed business ventures or company will be in the Greater Toronto Area (GTA). If located outside the GTA, minimum net worth is $400,000.
- Proposed business in either ICT or digital communication, a minimum net worth of $400,000 anywhere in Ontario.
2) Investment and Ownership
- Invest a minimum of $600,000 in an Ontario business and own at least thirty-three (33) per cent if the business is in GTA.
- If located outside GTA, invest a minimum of $200,000 and own at least 33 per cent.
- Proposed business in either ICT or digital communication, invest a minimum of $200,000 and own at least thirty-three (33) per cent anywhere in the province.
Ontario Entrepreneur Stream: Non-Financial Requirements
- At least twenty-four (24) months of full-time business experience in the past sixty (60) months, as an owner or senior manager.
- Create two full-time jobs for Canadian citizens or Canadian permanent residents in the proposed business or company is located inside the GTA. Business located outside the GTA, or in either ICT or digital communication, must create one full-time job.
- Make an exploratory visit to Ontario in the twelve (12) months prior to application.
- Must have a minimum CLB 4 in English or French.
- Physically settle in Ontario for at least seventy-five (75) per cent of the time you are managing the business.