Maple News reports that the Ontario Immigrant Nominee Program (OINP) has issued 21 invitations to entrepreneur candidates through its Entrepreneur Stream as part of a draw conducted on October 26. Candidates selected had Expression of Interest (EOI) scores ranging from 142 to 200.
This marks Ontario’s fifth entrepreneur draw of 2020, bringing the total number of invited candidates in this category to 112 for the year. The Entrepreneur Stream aims to attract skilled business owners and investors who wish to start or acquire a business in the province.
According to the program guidelines, candidates who received an invitation will automatically receive two emails from OINP—one with login credentials and the other with instructions on how to complete the application process. They are not required to contact the program directly.
Those who were eligible but didn’t receive an invitation in this round still remain in the pool for 12 months from the date they submitted their Expression of Interest. This gives them further opportunities to be invited as more draws are conducted.
Ontario has made recent policy changes to make the Entrepreneur Stream more accessible. The province significantly lowered the financial thresholds for investment and net worth. For businesses proposed within the Greater Toronto Area (GTA), the minimum net worth requirement has been reduced to $800,000 CAD (previously $1.5 million), and the minimum investment is now $600,000 CAD (down from $1 million).
Outside of the GTA, these thresholds are even lower. Entrepreneurs need to demonstrate a minimum net worth of $400,000 CAD and an investment of at least $200,000 CAD. These reductions aim to attract more diverse business interest across Ontario, including in smaller communities.
Another key change involves the experience requirement. Candidates now only need 24 months of business ownership or senior management experience within the last 60 months. This is a reduction from the previous requirement of 36 months.
Applicants who fulfill all eligibility criteria and receive an invitation are issued a temporary work permit support letter after signing a performance agreement with the province. If the entrepreneur meets the investment and job creation targets outlined in this agreement, they become eligible for nomination for Canadian permanent residence.
The Entrepreneur Stream continues to be a strategic pathway for business-minded immigrants seeking long-term opportunities in Canada’s largest province.