Ontario has conducted its first Entrepreneur Stream draw since significantly reducing net worth, investment and business experience requirements for the Ontario Immigrant Nominee Program category.
In a September 20 draw, 15 invites are issued with a minimum score of 127 points. Only candidates with Expressions of Interest scored as of September 12, 2019, qualified for the draw.
This was the third Ontario Entrepreneur draw of 2019 and the first since April 5, when 22 candidates were invited with a minimum score of 112.
It was also the first since a raft of changes were introduced on July 8, 2019.
Ontario Entrepreneur Stream: 2019 Draws
The changes included reducing net worth requirements from $1.5 million to $800,000 for businesses inside the GTA, and from $800,000 to $400,000 for that outside.
The minimum investment requirement was also cut from $1 million to $600,000 for businesses inside the GTA, and from $500,000 to $200,000 for that outside.
The required business experience was reduced from 36 months within the last 60 to 24 months within the previous 60.
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 is involved in Information Communications Technology or Digital Communications||$800,000||$400,000|
|The minimum investment for proposed business inside GTA||$1 million||$600,000|
|The minimum investment for proposed business outside GTA||$500,000||$200,000|
|The minimum investment for proposed business in involved in Information Communications Technology or Digital Communications||$500,000||$200,000|
|Business experience as an owner or senior manager||36 months within the last 60 months||Twenty-four months within the last 60 months|
The changes also saw Ontario terminate the unpopular Corporate Stream, which was aimed at established international corporations that wanted to expand into Ontario or buy an existing Ontario business.
Ontario Entrepreneur Stream: Financial Requirements
1) Net Worth
- The minimum net worth of $800,000 if your proposed business will be in the Greater Toronto Area (GTA). Outside the GTA, minimum net worth is $400,000.
- Proposed business in either ICT or digital communications, minimum net worth is $400,000 anywhere in the province.
2) Investment and Ownership
- Invest at least $600,000 in an Ontario business and own at least 33 percent if the business is in GTA.
- Outside GTA, invest at least $200,000 and own at least 33 percent.
- Proposed business in either ICT or digital communications, invest at least $200,000 and own at least 33 percent anywhere in the province.
Ontario Entrepreneur Stream: Non-Financial Requirements
- At least 24 months of full-time business experience in the past 60 months, as an owner or senior manager.
- Create two full-time jobs for Canadian citizens or permanent residents in the proposed company, if located inside the GTA. Business located outside the GTA, or in either ICT or digital communications, must create one full-time job.
- Make an exploratory visit to Ontario in the 12 months before application. Note: This only applies to those buying an existing business.
- Minimum CLB 4 in English or French.
- Physically reside in Ontario for at least 75% of the time you are managing the business.