Ontario invites 20 in the first Entrepreneur draw of the year

Ontario issued 20 invitations in the first Entrepreneur draw of 2020 held on 26^th February.

The OINP considered candidates who had submitted an EOI between 22^nd November 2019 and 14^th February 2020. The scores of invited candidates ranged between 136 and 200 points.

The last Ontario Entrepreneur draw was held on 2^nd December 2019 which invited 16 applicants with a minimum cut-off score of 118.

Ontario had introduced several changes to its Entrepreneur Immigration Program on 8^th July 2019. The significant changes included reducing the minimum net worth requirement from $1.5 million to $800,000 for businesses inside the Greater Toronto Area. For businesses outside the Greater Toronto Area, the net worth requirement was reduced from $800,000 to $400,000.

Ontario also reduced the minimum investment amount for the Entrepreneur Program. For businesses inside the Greater Toronto Area, the investment was reduced to $600,000 from the earlier $1 million. The investment amount for businesses outside the Greater Toronto Area was cut down from $500,000 to $200,000.

Changes were also made to the business experience requirement. The requirement was reduced from 36 months in the recent five years to 24 months.

Requirement Description	Before 8th July 2019	After 8th July 2019
Net worth for prospective business inside GTA	$1.5 million	$800,000
Net worth for prospective business outside GTA	$800,000	$400,000
Net worth for prospective business involved in ICT or Digital Communications	$800,000	$400,000
The minimum investment for prospective business inside GTA	$1 million	$600,000
The minimum investment for prospective business outside GTA	$500,000	$200,000
The minimum investment for a prospective business involved in ICT 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

 

To qualify under the Ontario Entrepreneur Program, you must submit a feasible business proposal that will bring economic benefit to the province. You also must meet the required net worth and minimum investment criteria. You must also be actively involved in the day-to-day management of the business.

Among other eligibility requirements, you must be able to create two jobs if your business is within the Greater Toronto Area. For business outside the Greater Toronto Area or in ICT, you must be able to create at least one, full-time, permanent job. These jobs should be for Canadian citizens or Permanent Residents.

You must create the required number of jobs within the first 20 months of setting up or acquiring the business in Ontario.

The business you set up or acquire in Ontario must meet the legal, provincial, regulatory and licensing requirements. You cannot set up a seasonal or project-based business in the province.

The following businesses are not eligible for the Ontario Entrepreneur Program:

• Automated car wash business
• Holding companies
• Pawnbrokers
• Laundromats
• Scrap metal recycling
• Payday loan and related businesses
• Tyre recycling
• A business involved in pornography or sexually explicit products or services
• Businesses which have been owned or operated previously by current or former business stream nominees of the OINP

If you plan to set up your business within the Greater Toronto Area, the following businesses are also ineligible:

• Existing Franchises in Ontario (new overseas franchises expanding into Ontario are allowed)
• Gas stations
• Bed and breakfasts

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