India's Most Eminent Visas and Immigration Consultant

Start Your Free Assesment Here..

Where do you live?
Where do you want to go?
Complete our Free visa assessment form today to make the complex visa application process simple.

Quick Enquiry Pointer

Click here to submit

Quick Enquir

Y

I agree with the T&C and Privacy Policy

Ontario Holds First Entrepreneur Draw after Reducing Its Requirements

September 2019, 24
EMAIL  Print A+

Ontario Holds First Entrepreneur Draw after Reducing Its Requirements
On September 20th Ontario conducted an Entrepreneur Stream draw after reducing its requirements in net worth, business experience and investment significantly in the Ontario Immigrant Nominee Program.

In it authorities issued 15 invitations and the minimum score was 127 points. The qualifying candidates having the Expressions of Interest on September 12, 2019, were successful in this draw. The earlier rounds in 2019 were conducted on April 5th, inviting 22 candidates with a score of 112. Many changes were introduced on July 8, 2019 in it.  On 17-01-2019 it invited 13  candidates with a score of 115.

After the changes there was reduction in net worth requirements effectively making them to $800,000 from $1.5 million for all businesses in the GTA, and $400,000 from $800,000 for all businesses outside GTA.

Also there were changes in the requirement for minimum investment from $1 million to $600,000 for all businesses in the GTA, and $200,000 from the earlier $500,000 for all businesses outside GTA.

Also the business experience Requirement was reduced to 24 months in the past 60 from 36 months in the last 60 months.

Summary of Changes to the Ontario Entrepreneur Stream

Requirement Description

Before July 8, 2019

After July 8 2019

Net worth for proposed business inside GTA

$1.5 million

$800,000

Net worth for proposed business outside GTA

$800,000

$400,000

Net worth for proposed business in involved in Information Communications Technology or Digital Communications

$800,000

$400,000

Minimum investment for proposed business inside GTA

$1 million

$600,000

Minimum investment for proposed business outside GTA

$500,000

$200,000

Minimum investment for proposed business in involved in Information Communications Technology or Digital Communications

$500,000

$200,000

Business experience as owner or senior manager

36 months in last 60 months

24 months in last 60 months

Additionally, after the changes Ontario terminated the Corporate Stream that had aimed to attract established global corporations intending to expand in Ontario for buying an existing business.

Financial Requirements in the Ontario Entrepreneur Stream:

1) Net Worth

  • Minimum net worth is $800,000, in case the proposed business is in the Greater Toronto Area, but if it is Outside the GTA, the net worth norm is $400,000.
  • Proposed business belonging to ICT, digital communications, needs a minimum net worth of $400,000 everywhere in province.

2) Investment and Ownership

  • Investment of $600,000 in a local business and owning 33 per cent in case the proposed business is in GTA.
  • Outside of GTA, investing $200,000 and owning 33 percent.
  • Proposed business if it is in either ICT, digital communications, investing norm is $200,000 and owning 33 per cent everyplace in province.

Non-Financial Requirements in the Ontario Entrepreneur Stream:

  • 24 months experience (full-time) in business during the past 60 months, in the capacity of senior manager or owner
  • Creating two jobs (full-time) for Canadian permanent residents or citizens, in the proposed company, if its location is inside GTA
  • All Businesses located outside the GTA, or in ICT or digital communications, need the creation of a full time job.
  • Making an exploratory visit in Ontario in the 12 months before application
  • CLB Minimum norm is 4 in English or French
  • Physically residing in Ontario for 75% of the time when you manage the business.

We bring all the news and trends for our patrons and they can contact us. 

HaHa , This number is not the website Hits count.
This is the Counseling Count.

1,678,165

Amazing Counseling Sessions
Offered, Free of Cost

Disclaimer - MoreVisas immigration service Pvt.Ltd. does not offer consulting on student visas/ Overseas jobs/work permits/international or domestic placements.
X
Chat Icon

Hi! How can we help you?

Click below button to start chat

chat icon