Ontario Provincial Nominee Program draw under Entrepreneur stream issued invitations to 10 candidates on January 27, 2023. The EOI for this draw had to be submitted on January 20, 2023. Candidates with the score between 137 and 162 were invited in this draw.
Financial requirements for the Entrepreneur stream of OINP draw
The financial requirements for this draw are as follows:
Business proposal inside Greater Toronto Area needs an investment of $800,000
An investment of $400,000 is needed for a business proposal outside the Greater Toronto Area
Business proposals can also be for ICT or digital communication and an investment of $400,000 is needed
Ownership and investment for the OINP Entrepreneur stream draw
For a business in Greater Toronto Area, $600,000 have to be invested and ownership should be of 33 percent
An investment of $200,000 and ownership of 33 percent is needed for a business outside the GTA
A business in ICT or digital communications needs an investment of $200,000 and ownership of 33 percent.
Non-financial requirements for OINP Entrepreneur stream
Non-financial requirements for the Ontario Entrepreneur stream draw are as follows:
Business experience should be of 2 years in the past 60 months as a senior manager or owner
If the business is in the GTA, it has to create at least two jobs for Canadian citizens or permanent residents
For a business outside GTA, ICT, or digital communications, one job has to be created
A visit to Ontario has to be made 12 months before submitting the application. This condition has to be fulfilled by the immigrants who have plans to buy an existing business
The English or French language proficiency should be CLB 4
Candidates have to reside 75 percent of the time in Ontario to manage the business
Previous Ontario Entrepreneur draw
Ontario held its previous draw under the Entrepreneur stream on August 16, 2022, in which invitations were issued to 28 candidates. The minimum score for this draw was between 138 and 160.